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The business cycle associated with exchange-rate-based stabilization (Английский)

This paper deals with the effects of disinflation on economic activity in "chronic inflation" countries -- countries with a long inflationary history above the rates in industrialized countries, where labor and capital markets are adjusted to function in the inflationary environment. The sample is based on a number of Latin American countries and Israel. The main finding is that stabilization processes in chronic inflation countries do not...
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