Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/123377
Authors: 
Bernholz, Peter
Kugler, Peter
Year of Publication: 
2007
Series/Report no.: 
WWZ Working Paper 13/07
Abstract: 
The estimation of an ordered probit model for currency reforms trying to end 31 hyperinflations and three big inflations of the 20th 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.
Subjects: 
Great inflations
currency reforms
central bank independence
fixed exchange rate
JEL: 
E31
E58
E65
Document Type: 
Working Paper

Files in This Item:
File
Size
239.63 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.