Institutions, credibility and crisis: the inconsistencies of Argentine exchange rate policy (1991-2006)

Detalhes bibliográficos
Autor(a) principal: CHERNY,NICOLÁS
Data de Publicação: 2015
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Revista de Economia Política
Texto Completo: http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572015000100095
Resumo: The purpose of this article is twofold. The first is to explain the time inconsistencies of the convertibility regime that led to the 2001 crisis. The argument suggests that the credibility requirements for convertibility induced a dynamic of legal, fiscal, financial and external commitments that increased exit costs and time inconsistencies. The second objective is to explain the tensions of the floating regime that replaced convertibility in 2002. We describe the effects of a floating exchange rate on macroeconomic imbalance and the growing tension between competitiveness and inflation.
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spelling Institutions, credibility and crisis: the inconsistencies of Argentine exchange rate policy (1991-2006)economic policyexchange rate crisisconvertibilityArgentinaThe purpose of this article is twofold. The first is to explain the time inconsistencies of the convertibility regime that led to the 2001 crisis. The argument suggests that the credibility requirements for convertibility induced a dynamic of legal, fiscal, financial and external commitments that increased exit costs and time inconsistencies. The second objective is to explain the tensions of the floating regime that replaced convertibility in 2002. We describe the effects of a floating exchange rate on macroeconomic imbalance and the growing tension between competitiveness and inflation.Centro de Economia Política2015-03-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersiontext/htmlhttp://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572015000100095Brazilian Journal of Political Economy v.35 n.1 2015reponame:Revista de Economia Políticainstname:EDITORA 34instacron:EDITORA_3410.1590/0101-31572015v35n01a06info:eu-repo/semantics/openAccessCHERNY,NICOLÁSeng2015-07-07T00:00:00Zoai:scielo:S0101-31572015000100095Revistahttps://centrodeeconomiapolitica.org.br/repojs/index.php/journalONGhttps://centrodeeconomiapolitica.org.br/repojs/index.php/journal/oai||cecilia.heise@bjpe.org.br1809-45380101-3157opendoar:2015-07-07T00:00Revista de Economia Política - EDITORA 34false
dc.title.none.fl_str_mv Institutions, credibility and crisis: the inconsistencies of Argentine exchange rate policy (1991-2006)
title Institutions, credibility and crisis: the inconsistencies of Argentine exchange rate policy (1991-2006)
spellingShingle Institutions, credibility and crisis: the inconsistencies of Argentine exchange rate policy (1991-2006)
CHERNY,NICOLÁS
economic policy
exchange rate crisis
convertibility
Argentina
title_short Institutions, credibility and crisis: the inconsistencies of Argentine exchange rate policy (1991-2006)
title_full Institutions, credibility and crisis: the inconsistencies of Argentine exchange rate policy (1991-2006)
title_fullStr Institutions, credibility and crisis: the inconsistencies of Argentine exchange rate policy (1991-2006)
title_full_unstemmed Institutions, credibility and crisis: the inconsistencies of Argentine exchange rate policy (1991-2006)
title_sort Institutions, credibility and crisis: the inconsistencies of Argentine exchange rate policy (1991-2006)
author CHERNY,NICOLÁS
author_facet CHERNY,NICOLÁS
author_role author
dc.contributor.author.fl_str_mv CHERNY,NICOLÁS
dc.subject.por.fl_str_mv economic policy
exchange rate crisis
convertibility
Argentina
topic economic policy
exchange rate crisis
convertibility
Argentina
description The purpose of this article is twofold. The first is to explain the time inconsistencies of the convertibility regime that led to the 2001 crisis. The argument suggests that the credibility requirements for convertibility induced a dynamic of legal, fiscal, financial and external commitments that increased exit costs and time inconsistencies. The second objective is to explain the tensions of the floating regime that replaced convertibility in 2002. We describe the effects of a floating exchange rate on macroeconomic imbalance and the growing tension between competitiveness and inflation.
publishDate 2015
dc.date.none.fl_str_mv 2015-03-01
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572015000100095
url http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572015000100095
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv 10.1590/0101-31572015v35n01a06
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv text/html
dc.publisher.none.fl_str_mv Centro de Economia Política
publisher.none.fl_str_mv Centro de Economia Política
dc.source.none.fl_str_mv Brazilian Journal of Political Economy v.35 n.1 2015
reponame:Revista de Economia Política
instname:EDITORA 34
instacron:EDITORA_34
instname_str EDITORA 34
instacron_str EDITORA_34
institution EDITORA_34
reponame_str Revista de Economia Política
collection Revista de Economia Política
repository.name.fl_str_mv Revista de Economia Política - EDITORA 34
repository.mail.fl_str_mv ||cecilia.heise@bjpe.org.br
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