Ayuso, J.; Kaminsky, G.L.; Lopez-Salido, D. - 1998
During the 1970s and early 1980s, Spain suffered high rates of inflation but inflation declined and by 1997 inflation … had fallen to approximately 2 percent. To fight inflation, Spain implemented austere monetary programs, joined the EMS in … 1989, enacted central bank autonomy in 1994, and introduced inflation targets in January 1995. Certainly, these and other …