Document details

The timing of inflation stabilization plans

Author(s): Veiga, Francisco José cv logo 1

Date: 1999

Persistent ID: http://hdl.handle.net/1822/1418

Origin: RepositóriUM - Universidade do Minho


Description
In some new political economic models, delays of stabilizations generally result from some sort of coordination problem caused by the mechanisms of making collective choices. Although several authors have tested the effects of political instability and fragmentation on seigniorage, deficits, or inflation, no direct tests of the influence of these factors on the timing of stabilizations have been undertaken. This is what I try to accomplish here with the use of a duration model. Empirical results identify the degree of fragmentation of the political system and the level of inflation as important determinants of the timing of inflation stabilizations.
Document Type Research paper
Language English
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Fundação para a Ciência e a Tecnologia Universidade do Minho   Governo Português Ministério da Educação e Ciência Programa Operacional da Sociedade do Conhecimento EU