Format:
Online-Ressource (36 p)
Edition:
Online-Ausg.
ISBN:
1451920954
,
9781451920956
Series Statement:
IMF Working Papers Working Paper No. 92/24
Content:
It is widely feared that, once prices are decontrolled in the formerly centrally–planned economies, households’ release of previously accumulated money will trigger a hyperinflation. This paper finds, instead, that whether a country’s fiscal, monetary, and labor market policies are destabilizing typically does not depend on the money stock. However, the release of a monetary overhang can precipitate a large initial real wage shock. To the extent such a shock is not feasible politically, there is a motive for monetary reform, which must be weighed against the cost of reduced public confidence in money
Additional Edition:
Erscheint auch als Druck-Ausgabe Osband, Kent Can the Release of a Monetary Overhang Trigger Hyperinflation? Washington, D.C. : International Monetary Fund, 1992 ISBN 9781451920956
Language:
English
DOI:
10.5089/9781451920956.001
