Hidden Bibliographic Details
| Other authors / contributors: | International Monetary Fund. European I Department.
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| ISBN: | 1451898525
9781451898521
1281155780
9781281155788
146237011X
9781462370115
1452715939
9781452715933
9786613777140
6613777145
9781451852868
145185286X
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| Notes: | Includes bibliographical references (page 30).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
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
English.
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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| 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.
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| Other form: | Print version: Sobczak, Nicolas. Disinflation in Spain. [Washington, D.C.] : International Monetary Fund, European I Department, ©1998
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| Standard no.: | 10.5089/9781451898521.001
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