01786cas a2200265 a 4500 AALejournalIMF001860 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451965315 1018-5941 BD-DhAAL BD-DhAAL Agenor, Pierre-Richard. Inflation and Monetary Reform / Pierre-Richard Agenor, Anna Lennblad. Washington, D.C. : International Monetary Fund, 1992. 1 online resource (34 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The introduction of a new currency has often occurred as part of a program to fight hyperinflation. In this context, non-uniform conversion rates for different types of assets and liabilities have been used as a means of reducing an initial 'excess' stock of liquidity. The paper examines the anticipatory dynamics associated with such reforms. The analysis suggests that monetary reforms of this type have a deflationary effect upon announcement as well as during the transition period. Under uncertainty about the reform date, the direction of the initial jump in prices upon announcement is a priori ambiguous. Upon implementation, a monetary reform leads to a downward jump in prices. Mode of access: Internet Germany imf Lennblad, Anna. IMF Working Papers; Working Paper ; No. 1992/060 Full text available on IMF http://elibrary.imf.org/view/journals/001/1992/060/001.1992.issue-060-en.xml IMF e-Library