The Monetary and Fiscal History of Peru, 1960-2017: Radical Policy Experiments, Inflation and Stabilization

Descripción del Articulo

Documento de trabajo; 468
Detalles Bibliográficos
Autores: Martinelli, César, Vega, Marco
Formato: documento de trabajo
Fecha de Publicación:2018
Institución:Pontificia Universidad Católica del Perú
Repositorio:PUCP-Institucional
Lenguaje:español
OAI Identifier:oai:repositorio.pucp.edu.pe:20.500.14657/175842
Enlace del recurso:http://repositorio.pucp.edu.pe/index/handle/123456789/175842
http://doi.org/10.18800/2079-8474.0468
Nivel de acceso:acceso abierto
Materia:Monetary policy
Fiscal policy
Inflation
Stagflation
http://purl.org/pe-repo/ocde/ford#5.02.00
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spelling Martinelli, CésarVega, Marco2021-04-15T00:30:55Z2021-04-15T00:30:55Z2018-12http://repositorio.pucp.edu.pe/index/handle/123456789/175842http://doi.org/10.18800/2079-8474.0468Documento de trabajo; 468We show that Peru’s chronic inflation through the 1970s and 1980s was the result of the need for inflationary taxation in a regime of fiscal dominance of monetary policy. Hyperinflation occurred when debt accumulation became unavailable, and a populist administration engaged in a counterproductive policy of price controls and loose credit. We interpret the fiscal difficulties preceding the stabilization as a process of social learning to live within the realities of fiscal budget balance. The credibility of the policy regime change in the 1990s may be linked ultimately to the change in public opinion giving proper incentives to politicians, after the traumatic consequences of the hyperstagflation of 1987–1990.spaPontificia Universidad Católica del Perú. Departamento de EconomíaPEurn:issn:2079-8466urn:issn:2079-8474info:eu-repo/semantics/openAccesshttp://creativecommons.org/licenses/by-nc-nd/2.5/pe/Monetary policyFiscal policyInflationStagflationhttp://purl.org/pe-repo/ocde/ford#5.02.00The Monetary and Fiscal History of Peru, 1960-2017: Radical Policy Experiments, Inflation and Stabilizationinfo:eu-repo/semantics/workingPaperDocumento de trabajoreponame:PUCP-Institucionalinstname:Pontificia Universidad Católica del Perúinstacron:PUCPhttps://orcid.org/0000-0001-9632-8585​CC-LICENSElicense_rdflicense_rdfapplication/rdf+xml; charset=utf-8811https://repositorio.pucp.edu.pe/bitstreams/28fa1b9b-0ffa-4e2b-b61e-9aa8c1175b73/download3655808e5dd46167956d6870b0f43800MD52falseAnonymousREADORIGINALDDD468.pdfDDD468.pdfTexto completoapplication/pdf1916988https://repositorio.pucp.edu.pe/bitstreams/ba131162-997f-480d-b780-36ae261531b8/download7ece5785f277e50d06d66ff3cd42d827MD53trueAnonymousREADTHUMBNAILDDD468.pdf.jpgDDD468.pdf.jpgIM Thumbnailimage/jpeg42362https://repositorio.pucp.edu.pe/bitstreams/fdc4e35d-b996-4673-9c6a-54088b94bdab/downloadb85c86383f0eaef3e87802e43781032dMD54falseAnonymousREADTEXTDDD468.pdf.txtDDD468.pdf.txtExtracted texttext/plain101811https://repositorio.pucp.edu.pe/bitstreams/12e7dfc2-ab31-4309-b6ca-464cc7dea47f/download3993d99bd3152fdb1357df16ae890b69MD55falseAnonymousREAD20.500.14657/175842oai:repositorio.pucp.edu.pe:20.500.14657/1758422025-03-26 08:32:54.154http://creativecommons.org/licenses/by-nc-nd/2.5/pe/info:eu-repo/semantics/openAccessopen.accesshttps://repositorio.pucp.edu.peRepositorio Institucional de la PUCPrepositorio@pucp.pe
dc.title.es_ES.fl_str_mv The Monetary and Fiscal History of Peru, 1960-2017: Radical Policy Experiments, Inflation and Stabilization
title The Monetary and Fiscal History of Peru, 1960-2017: Radical Policy Experiments, Inflation and Stabilization
spellingShingle The Monetary and Fiscal History of Peru, 1960-2017: Radical Policy Experiments, Inflation and Stabilization
Martinelli, César
Monetary policy
Fiscal policy
Inflation
Stagflation
http://purl.org/pe-repo/ocde/ford#5.02.00
title_short The Monetary and Fiscal History of Peru, 1960-2017: Radical Policy Experiments, Inflation and Stabilization
title_full The Monetary and Fiscal History of Peru, 1960-2017: Radical Policy Experiments, Inflation and Stabilization
title_fullStr The Monetary and Fiscal History of Peru, 1960-2017: Radical Policy Experiments, Inflation and Stabilization
title_full_unstemmed The Monetary and Fiscal History of Peru, 1960-2017: Radical Policy Experiments, Inflation and Stabilization
title_sort The Monetary and Fiscal History of Peru, 1960-2017: Radical Policy Experiments, Inflation and Stabilization
author Martinelli, César
author_facet Martinelli, César
Vega, Marco
author_role author
author2 Vega, Marco
author2_role author
dc.contributor.author.fl_str_mv Martinelli, César
Vega, Marco
dc.subject.es_ES.fl_str_mv Monetary policy
Fiscal policy
Inflation
Stagflation
topic Monetary policy
Fiscal policy
Inflation
Stagflation
http://purl.org/pe-repo/ocde/ford#5.02.00
dc.subject.ocde.none.fl_str_mv http://purl.org/pe-repo/ocde/ford#5.02.00
description Documento de trabajo; 468
publishDate 2018
dc.date.accessioned.none.fl_str_mv 2021-04-15T00:30:55Z
dc.date.available.none.fl_str_mv 2021-04-15T00:30:55Z
dc.date.issued.fl_str_mv 2018-12
dc.type.none.fl_str_mv info:eu-repo/semantics/workingPaper
dc.type.other.none.fl_str_mv Documento de trabajo
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dc.identifier.doi.none.fl_str_mv http://doi.org/10.18800/2079-8474.0468
url http://repositorio.pucp.edu.pe/index/handle/123456789/175842
http://doi.org/10.18800/2079-8474.0468
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dc.publisher.es_ES.fl_str_mv Pontificia Universidad Católica del Perú. Departamento de Economía
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The Monetary and Fiscal History of Peru, 1960-2017: Radical Policy Experiments, Inflation and Stabilization
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