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Book Cover
Author Sobczak, Nicolas.

Title Disinflation in Spain : the recent experience / prepared by Nicolas Sobczak
Published [Washington, D.C.] : International Monetary Fund, European I Department, [1998]
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Description 1 online resource (30 pages) : illustrations
Series IMF working paper ; WP/98/106
IMF working paper ; WP/98/106
Summary Until recently, Spain was regarded as a country of moderate but persistent inflation. Indeed, after the long and sustained disinflation experienced from 1977 to 1987, Spain's inflation rate seemed to stabilize on a plateau between 4 percent and 6 percent (Figure 1), increasing with the overheating period in the end of the 1980s and decreasing with the slowdown of the early 1990s. Even in the wake of the severe recession of 1992-93, while unemployment increased by about 5 percentage points to exceed 24 percent of the labor force, inflation did not decline below 4 percent. As a consequence, inflation differentials between Spain and other countries of the European Monetary System remained significantly positive, contributing to the successive devaluations of the peseta until 1995, and to lingering doubts about Spain's qualification as a founding member of the European Monetary Union
Bibliography Includes bibliographical references (page 30)
Notes Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. MiAaHDL
digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL
Print version record
Subject Economic and Monetary Union -- Membership -- Economic aspects.
Deflation (Finance) -- Spain -- Mathematical models.
Inflation (Finance) -- Spain -- Mathematical models.
Labor market -- Supply and demand -- Spain.
Unemployment -- Effect of inflation on -- Spain -- Mathematical models.
Spain -- Fiscal policy
Form Electronic book
Author International Monetary Fund. European I Department.
ISBN 1281155780