Are stabilization programs expansionary?

Authors

  • Federico Echenique Universidad de la República de Uruguay - University of California at Berkeley
  • Alvaro Forteza Universidad de la República de Uruguay

DOI:

https://doi.org/10.24201/ee.v15i1.219

Keywords:

positive external shocks, stabilization programs

Abstract

The empirical evidence presented in this paper casts doubts on the by now widely accepted “fact” that exchange rate based stabilization programs are expansionary. Even though these programs were associated with output booms, no evidence was found to support the thesis that the booms were caused by the stabilization programs. Rather, positive external shocks seem to have caused both the output booms and the stabilization programs.

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Published

2000-01-01

How to Cite

Echenique, F., & Forteza, A. (2000). Are stabilization programs expansionary?. Estudios Económicos De El Colegio De México, 15(1), 65–89. https://doi.org/10.24201/ee.v15i1.219

Issue

29-vol. 15, no. 1, january-june, 2000

Section

Articles

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