01747cas a2200241 a 4500 AALejournalIMF010043 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451960969 1018-5941 BD-DhAAL BD-DhAAL International Monetary Fund. Empirical Analysis of High-Inflation Episodes in Argentina, Brazil, and Israel. Washington, D.C. : International Monetary Fund, 1988. 1 online resource (28 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 Although accommodative policies and widespread indexation may account for the persistence of high inflation, they cannot explain changes in the inflation rate. This paper examines the causes of such changes for the high-inflation episodes immediately preceding the recent 'heterodox' attempts at stabilization in Argentina, Brazil, and Israel. An attempt is made to distinguish between the 'fiscal' and 'balance of payments' views of the causes of high inflation by computing historical decompositions of these episodes based on vector autoregressions. In all three cases, the results indicate that nominal exchange rate shocks played the dominant role in triggering an acceleration of inflation. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1988/068 Full text available on IMF http://elibrary.imf.org/view/journals/001/1988/068/001.1988.issue-068-en.xml IMF e-Library