IMF Working Paper Series

RESEARCH - The paper 'Why Do Many Disinflations Fail? The Importance of Luck, Timing, and Political Institutions' published on 15 January considers why so many inflation stabilizations succeed only temporarily. The authors, Javier Hamann and Alessandro Prati, find most failures are explained by bad luck, unfavourable initial conditions, and inadequate political institutions.

Why Do Many Disinflations Fail? The Importance of Luck, Timing, and Political Institutions

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