Hidden Bibliographic Details
| Other authors / contributors: | Lennblad, Anna, author.
International Monetary Fund. European II Department, issuing body.
International Monetary Fund. Research Department, issuing body.
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| ISBN: | 1455290742
9781455290741
1462378269
9781462378265
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| Notes: | Caption title.
"August 1992."
Includes bibliographical references (page 22).
Restrictions unspecified
Electronic reproduction. [S.l.] : HathiTrust Digital Library, 2011.
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 2011 HathiTrust Digital Library committed to preserve
Print version record.
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| 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.
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| Other form: | Print version: Agénor, Pierre-Richard. Inflation and monetary reform. [Washington, D.C.] : International Monetary Fund, European II and Research Depts., ©1992
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