Arbeitspapier
Disinflations in Latin America and the Caribbean: A free lunch?
This paper challenges the conventional view according to which disinflations in LAC-even from low and moderate peaks-have been carried out at no cost to output. After suggesting a new methodology that allows for long-lived effects and inflation inertia when measuring costs of disinflations, large sacrifice ratios are obtained for the 1970s and 80s. Nevertheless, a new puzzle arises: disinflation costs in the 90s are negative, even with the new methodology. It is shown that an unusual combination of circumstances-i.e. capital inflows, structural reforms and the peculiar recent inflation history-can explain that fortunate result. Moreover, it is shown that LAC episodes exhibit a larger speed than G7 experiences. That speed differential explains why disinflation costs in developed nations are on average larger than LAC’s.
- Sprache
-
Englisch
- Erschienen in
-
Series: Working Paper ; No. 506
- Klassifikation
-
Wirtschaft
Price Level; Inflation; Deflation
Business Fluctuations; Cycles
Monetary Policy
Economic Growth of Open Economies
Macroeconomics and Monetary Economics: General
- Thema
-
Inflation
Growth
Disinflation costs
Inflationsbekämpfung
Wirtschaftswachstum
Lateinamerika
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Hofstetter, Marc
- Ereignis
-
Veröffentlichung
- (wer)
-
The Johns Hopkins University, Department of Economics
- (wo)
-
Baltimore, MD
- (wann)
-
2004
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:41 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Hofstetter, Marc
- The Johns Hopkins University, Department of Economics
Entstanden
- 2004
Ähnliche Objekte (12)
Prostitution in Latin America and the Caribbean
Regional competitiveness: Latin America and the Caribbean
Unemployment in Latin America and the Caribbean
Reducing Poverty in Latin America and the Caribbean
Emigrant Policies in Latin America and the Caribbean
Evaluation standards for latin america and the caribbean
Emigrant Policies in Latin America and the Caribbean
Music in Latin America and the Caribbean, Vol. 2.. Performing the Caribbean experience
Seeds of change in Latin America and the Caribbean
Violence against Women in Latin America and the Caribbean
New environmental histories of Latin America and the Caribbean
Accelerating digital trade in Latin America and the Caribbean
Prostitution in Latin America and the Caribbean
Regional competitiveness: Latin America and the Caribbean
Unemployment in Latin America and the Caribbean
Reducing Poverty in Latin America and the Caribbean
Emigrant Policies in Latin America and the Caribbean
Evaluation standards for latin america and the caribbean
Emigrant Policies in Latin America and the Caribbean
Music in Latin America and the Caribbean, Vol. 2.. Performing the Caribbean experience
Seeds of change in Latin America and the Caribbean
Violence against Women in Latin America and the Caribbean
New environmental histories of Latin America and the Caribbean
Accelerating digital trade in Latin America and the Caribbean
Prostitution in Latin America and the Caribbean
Regional competitiveness: Latin America and the Caribbean
Unemployment in Latin America and the Caribbean
Reducing Poverty in Latin America and the Caribbean
Emigrant Policies in Latin America and the Caribbean
Evaluation standards for latin america and the caribbean
Emigrant Policies in Latin America and the Caribbean
Music in Latin America and the Caribbean, Vol. 2.. Performing the Caribbean experience
Seeds of change in Latin America and the Caribbean
Violence against Women in Latin America and the Caribbean
New environmental histories of Latin America and the Caribbean