| Description |
1 online resource (iii, 49 pages) : illustrations |
| Series |
IMF working paper ; WP/96/51 |
|
IMF working paper ; WP/96/51.
|
| Summary |
Annotation This paper examines the behavior of private sector credit in chronic inflation countries that undergo exchange rate-based inflation stabilizations. It concludes that these programs are characterized by a strong increase in private sector credit, both in absolute terms and as a fraction of real economic activity. Empirical results using data for Mexico, Chile, Argentina, and Israel support a negative statistically significant relationship between credit and inflation for Mexico, Argentina, and Chile, but not for Israel. In addition, for both Chile and Mexico, dummy variables representing periods of inflation stabilization are positive and statistically different from zero indicating a stronger expansion in private sector credit during stabilization. These results could potentially explain the consumption boom that is usually present in the early stages of these programs |
| Bibliography |
Includes bibliographical references (pages 46-49) |
| Notes |
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 MiAaHDL |
|
digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL |
|
Print version record |
| Subject |
Credit -- Latin America
|
|
Credit -- Israel
|
|
Inflation (Finance) -- Latin America
|
|
Inflation (Finance) -- Israel
|
|
Economic stabilization -- Latin America
|
|
Economic stabilization -- Israel
|
|
Foreign exchange rates -- Latin America
|
|
Foreign exchange rates -- Israel
|
|
Credit.
|
|
Economic stabilization.
|
|
Foreign exchange rates.
|
|
Inflation (Finance)
|
|
Israel.
|
|
Latin America.
|
| Form |
Electronic book
|
| Author |
International Monetary Fund. Middle Eastern Department, issuing body.
|
| ISBN |
1455225142 |
|
9781455225149 |
|
