| Description |
1 online resource (iii, 22 pages) : illustrations |
| Series |
IMF working paper ; WP/92/60 |
|
IMF working paper ; WP/92/60.
|
| Summary |
The introduction of a new currency has often occured as part of a program to fight hyperinflation. In this context, non-uniform conversion rates for different types of assets and liabilities have been used as a means of reducing an initial "excess" stock of liquidity. The paper examines the anticipatory dynamics associated with such reforms The analysis suggests that monetary reforms of this type have a deflationary effect upon announcement as well as during the transition period. Under uncertainty about the reform date, the direction of the initial jump in prices upon announcement is a priori ambiguous. Upon implementation, a monetary reform leads to a downward jump in prices |
| Notes |
Caption title |
|
"August 1992." |
| Bibliography |
Includes bibliographical references (page 22) |
| 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. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL |
|
English |
|
Print version record |
|
digitized 2011 HathiTrust Digital Library committed to preserve pda MiAaHDL |
| Subject |
Inflation
|
|
Monetary policy.
|
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International finance.
|
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International finance.
|
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Monetary policy.
|
| Form |
Electronic book
|
| Author |
Lennblad, Anna, author.
|
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International Monetary Fund. European II Department, issuing body.
|
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International Monetary Fund. Research Department, issuing body.
|
| ISBN |
1455290742 |
|
9781455290741 |
|
1462378269 |
|
9781462378265 |
|
