Exchange Rate-Based Stabilization in Western Europe: Greece, Ireland, Italy and Portugal
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| 520 | 3 | |a This paper compares the experience with exchange-rate-based stabilization (ERBS) of four Western European countries with that of high-inflation developing countries. In general, the behavior of key macroeconomic variables-inflation, output, demand, the real exchange rate and the current account-in the four countries examined did not correspond to the pattern observed in developing countries, although some resemblance to this pattern could be found in Italy in 1987-92 and Greece in 1994-96. The experience with ERBS in Western Europe highlights the importance of incomes policy as an ingredient of a successful stabilization program and shows that the adoption of a looser anchor does not necessarily reduce the output cost of disinflation | |
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| id | DE-604.BV048350262 |
| illustrated | Not Illustrated |
| indexdate | 2024-12-20T19:42:19Z |
| institution | BVB |
| isbn | 1451849699 9781451849691 |
| language | English |
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| publishDate | 1997 |
| publishDateSearch | 1997 |
| publishDateSort | 1997 |
| publisher | International Monetary Fund |
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| series2 | IMF Working Papers |
| spellingShingle | Detragiache, Enrica Exchange Rate-Based Stabilization in Western Europe Greece, Ireland, Italy and Portugal |
| title | Exchange Rate-Based Stabilization in Western Europe Greece, Ireland, Italy and Portugal |
| title_auth | Exchange Rate-Based Stabilization in Western Europe Greece, Ireland, Italy and Portugal |
| title_exact_search | Exchange Rate-Based Stabilization in Western Europe Greece, Ireland, Italy and Portugal |
| title_full | Exchange Rate-Based Stabilization in Western Europe Greece, Ireland, Italy and Portugal Detragiache, Enrica |
| title_fullStr | Exchange Rate-Based Stabilization in Western Europe Greece, Ireland, Italy and Portugal Detragiache, Enrica |
| title_full_unstemmed | Exchange Rate-Based Stabilization in Western Europe Greece, Ireland, Italy and Portugal Detragiache, Enrica |
| title_short | Exchange Rate-Based Stabilization in Western Europe |
| title_sort | exchange rate based stabilization in western europe greece ireland italy and portugal |
| title_sub | Greece, Ireland, Italy and Portugal |
| url | http://elibrary.imf.org/view/IMF001/02203-9781451849691/02203-9781451849691/02203-9781451849691.xml |
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