How Long to Read Why Do Many Disinflations Fail? the Importance of Luck, Timing, and Political Institutions

How Long Does it Take to Read Why Do Many Disinflations Fail? the Importance of Luck, Timing, and Political Institutions?

It takes the average reader 1 hour and 8 minutes to read Why Do Many Disinflations Fail? the Importance of Luck, Timing, and Political Institutions by Mr. A. Javier Hamann

Assuming a reading speed of 250 words per minute. Learn more

Description

Many inflation stabilizations succeed only temporarily. Using a sample of 51 episodes of stabilization from inflation levels above 40 percent, we show that most of the failures are explained by bad luck, unfavorable initial conditions, and inadequate political institutions. The evolution of trading partners'' demand and U.S. interest rates captures the effect of bad luck. Past inflation affects the outcome in two different ways: a long history of high inflation makes failure more likely, while a high level of inflation prior to stabilization increases the chances of success. Countries with short-lived political institutions, a weak executive authority, and proportional electoral rules also tend to fail. After controlling for all these factors, we find that exchange-rate-based stabilizations are more likely to succeed. These findings are robust across measures of failure (two dichotomous and one continuous), sample selection criteria, and estimation techniques, including Heckman''s correction for the endogeneity of the anchor.

How long is Why Do Many Disinflations Fail? the Importance of Luck, Timing, and Political Institutions?

Why Do Many Disinflations Fail? the Importance of Luck, Timing, and Political Institutions by Mr. A. Javier Hamann is 67 pages long, and a total of 17,219 words.

This makes it 23% the length of the average book. It also has 21% more words than the average book.

How Long Does it Take to Read Why Do Many Disinflations Fail? the Importance of Luck, Timing, and Political Institutions Aloud?

The average oral reading speed is 183 words per minute. This means it takes 1 hour and 34 minutes to read Why Do Many Disinflations Fail? the Importance of Luck, Timing, and Political Institutions aloud.

What Reading Level is Why Do Many Disinflations Fail? the Importance of Luck, Timing, and Political Institutions?

Why Do Many Disinflations Fail? the Importance of Luck, Timing, and Political Institutions is suitable for students ages 8 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

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