As expected, the Fund's Board of Directors approved the review of Argentina's program, although it made it clear that Massa failed to meet all goals. The IMF applauds the fiscal effort promised by...
Disinflation speed and transmission channels
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Disinflation speed and transmission channels
Second week
December 2017
There are no doubts about the long-term benefits that would ensue from a decrease in inflation. However, a debate has been ignited recently regarding the short-term costs of fighting inflation with a floating exchange rate and the use of the interest rate as the main tool in a context of expansive fiscal policy.