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Authordc.contributor.authorLeijonhufvud, Axel 
Admission datedc.date.accessioned2011-05-17T13:48:16Z
Available datedc.date.available2011-05-17T13:48:16Z
Publication datedc.date.issued1994-12
Cita de ítemdc.identifier.citationEstudios de Economía, Vol. 21, No. 2, Diciembre 1994 Págs. 163-177es_CL
Identifierdc.identifier.urihttps://repositorio.uchile.cl/handle/2250/128102
Abstractdc.description.abstractThe paper surveys the consequences of high inflation for the domestic financial system. The damage that these inflations do to the institutions and markets that finance the growth of financially stable countries is briefly described and explained. Among the effects considered: intermediation is strangled, financial institutions become overstaffed and inefficient, markets for bonds of medium and long term disappear as do contracts of all but the shortest maturities. Moreover, the financial innovation that high inflations trigger, such as indexation and dollarization of various kinds of transactions, are mostly evidence of diversion of talent and energies into financial activities that would be superfluous under conditions of monetary stability.es_CL
Lenguagedc.language.isoenes_CL
Publisherdc.publisherUniversidad de Chile. Facultad de Economía y Negocioses_CL
Keywordsdc.subjectFinancial systemes_CL
Títulodc.titleHigh inflations and the financial Systemes_CL
Document typedc.typeArtículo de revistaes_CL


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