Bernholz, Peter and Kugler, Peter. (2009) The success of currency reforms to end great inflations: An empirical analysis of 34 high inflations. German Economic Review, 10 (2). pp. 165-175.
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Official URL: http://edoc.unibas.ch/dok/A5839431
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Abstract
The estimation of an ordered Probit model for currency reforms attempting to end 31 hyperinflations and three hughe inflations of the twentieth century shows that the introduction of an independent central bank and the adoption of a credibly fixed exchange rate are crucial for the success of a currency reform. In addition, currency reforms are demonstrated to be more difficult in centrally planned economies than in market economies.
Faculties and Departments: | 06 Faculty of Business and Economics > Departement Wirtschaftswissenschaften > Professuren Wirtschaftswissenschaften > Geld- und Währungsgeschichte (Kugler) |
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UniBasel Contributors: | Kugler, Peter |
Item Type: | Article, refereed |
Article Subtype: | Research Article |
Publisher: | Blackwell |
ISSN: | 1465-6485 |
e-ISSN: | 1468-0475 |
Note: | Publication type according to Uni Basel Research Database: Journal article |
Last Modified: | 24 Jul 2017 11:44 |
Deposited On: | 14 Sep 2012 07:09 |
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