Bernholz, Peter and Kugler, Peter. (2007) The Success of Currency Reforms to End Great Inflations: An Empirical Analysis of 34 High Inflations. WWZ Discussion Papers, 2007 (13).
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Abstract
The estimation of an ordered probit model for currency reforms trying to end 31 NEWLINE hyperinflations and three big inflations of the 20th century shows that the introduction of an NEWLINE independent central bank and the adoption of a credibly fixed exchange rate are crucial for the success NEWLINE of a currency reform. In addition, currency reforms are demonstrated to be more difficult in centrally NEWLINE planned economies than in market economies.
| Faculties and Departments: | 06 Faculty of Business and Economics > Departement Wirtschaftswissenschaften > Professuren Wirtschaftswissenschaften > Geld- und Währungsgeschichte (Kugler) 12 Special Collections > WWZ Publications > WWZ Discussion Papers and Working Papers |
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| UniBasel Contributors: | Bernholz, Peter and Kugler, Peter |
| Item Type: | Working Paper |
| Publisher: | WWZ, University of Basel |
| Number of Pages: | 12 |
| Note: | Publication type according to Uni Basel Research Database: Discussion paper / Internet publication |
| Language: | English |
| Identification Number: |
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| edoc DOI: | |
| Last Modified: | 09 Mar 2018 10:53 |
| Deposited On: | 07 Mar 2018 11:19 |
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