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Chile's experience with stabilization, revisited

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Author Info
Corbo, Vittorio
Solimano, Andres
Abstract

This paper evaluates Chile's stabilization policies since the early 1970s. Four episodes are examined: (a) the high inflation at the beginning of the military regime when inflation was close to 1000 percent per year; (b) the orthodox stabilization program of 1975; (c) the exchange rate-based stabilization of February 1978-June 1982; and (d) the post-1984 adjustment period with a large real devaluation and low inflation. Finally an overall evaluation of the post-1973 experience with stabilization is provided.

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Paper provided by The World Bank in its series Policy Research Working Paper Series with number 579.

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Date of creation: 31 Jan 1991
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Handle: RePEc:wbk:wbrwps:579

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Related research
Keywords: Economic Theory&Research; Economic Stabilization; Environmental Economics&Policies; Macroeconomic Management; Access to Markets;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Edward, Sebastian, 1986. "Are Devaluations Contractionary?," The Review of Economics and Statistics, MIT Press, vol. 68(3), pages 501-08, August. [Downloadable!] (restricted)
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  2. Fischer, Stanley, 1988. "Real Balances, the Exchange Rate, and Indexation: Real Variables in Disinflation," The Quarterly Journal of Economics, MIT Press, vol. 103(1), pages 27-49, February. [Downloadable!] (restricted)
  3. Corbo, Vittorio & de Melo, Jaime, 1987. "Lessons from the Southern Cone Policy Reforms," World Bank Research Observer, Oxford University Press, vol. 2(2), pages 111-42, July.
  4. Stanley Fischer, 1988. "Real Balances, the Exchange Rate and Indexation: Real Variables in Disinflation," NBER Working Papers 1497, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  5. Corbo, Vittorio, 1982. "Monetary policy with an overrestricted demand for money equation : Chile in the 60's," Journal of Development Economics, Elsevier, vol. 10(1), pages 119-126, February. [Downloadable!] (restricted)
  6. Nadeem Ul Haque & Peter Montiel, 1990. "Capital Mobility in Developing Countries - Some Empirical Tests," IMF Working Papers 90/117, International Monetary Fund.
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Reinhart, Carmen & Calvo, Guillermo & Vegh, Carlos, 1994. "Targeting the real exchange rate: Theory and evidence," MPRA Paper 13412, University Library of Munich, Germany. [Downloadable!]
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  2. Robert S. Pindyck & Andres Solimano, 1993. "Economic Instability and Aggregate Investment," NBER Working Papers 4380, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  3. Laurence Ball, 1993. "The Dynamics of High Inflation," NBER Working Papers 4578, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  4. Dornbusch, Rudiger & Fischer, Stanley, 1991. "Moderate inflation," Policy Research Working Paper Series 807, The World Bank. [Downloadable!]
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  5. Vittorio Corbo & Klaus Schmidt-Hebbel, 2002. "Inflation Targeting in Latin America," Documentos de Trabajo 230, Instituto de Economía. Pontificia Universidad Católica de Chile.. [Downloadable!]
    Other versions:
  6. Fernando Lefort, 1997. "Crecimiento Económico en Chile: Evidencia de Panel," Working Papers Central Bank of Chile 18, Central Bank of Chile. [Downloadable!]
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