High Inflation, Price Stability and Hysteresis Effect: Evidence from Argentina

dc.creator	Dabús, Carlos
dc.creator	Delbianco, Fernando
dc.creator	Fioriti, Andrés
dc.date	2016-04-25
dc.date.accessioned	2023-09-07T16:20:13Z
dc.date.available	2023-09-07T16:20:13Z
dc.identifier	https://www.rae-ear.org/index.php/rae/article/view/452
dc.identifier.uri	https://revistaschilenas.uchile.cl/handle/2250/233569
dc.description	We estimate a Currency Substitution model for 1980-2013 periods in Argentina. Following the Mongardini and Mueller (2000) specification, our paper studies the persistence of lower demand of local money, or dollarization, by including a hysteresis variable. By applying an ARDL (Auto Regressive Distributed Lags) model, we found a clear ratchet effect, which implies that in the short run agents do not adjust to changes on the fundamentals, leading to a significant hysteresis variable.	en-US
dc.format	application/pdf
dc.language	eng
dc.publisher	Universidad Alberto Hurtado - Facultad de Economía y Negocios	en-US
dc.relation	https://www.rae-ear.org/index.php/rae/article/view/452/580
dc.source	Revista de Análisis Económico ; Vol. 31 Núm. 1 (2016); 59-74	es-ES
dc.source	Economic Analysis Review; Vol. 31 No. 1 (2016); 59-74	en-US
dc.source	0718-8870
dc.source	0716-5927
dc.subject	Hysteresis Effect	en-US
dc.subject	Money Demand	en-US
dc.subject	Currency Substitution	en-US
dc.title	High Inflation, Price Stability and Hysteresis Effect: Evidence from Argentina	en-US
dc.type	info:eu-repo/semantics/article
dc.type	info:eu-repo/semantics/publishedVersion