01665cas a2200241 a 4500 AALejournalIMF010478 230101c9999 xx r poo 0 0eng d 15.00 USD 9781451973037 1020-7635 BD-DhAAL BD-DhAAL International Monetary Fund. Research Dept. IMF Staff papers : Volume 36 No. 3. Washington, D.C. : International Monetary Fund, 1989. 1 online resource (228 pages) IMF Staff 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. The causes of such changes for the high-inflation episodes immediately preceding the recent 'heterodox' attempts at stabilization in Argentina, Brazil, and Israel are examined by computing historical decompositions of these episodes based on vector autoregressions, distinguishing between the 'fiscal' and 'balance of payments' views of their causes. In all three cases, nominal exchange rate shocks played the dominant role in triggering an acceleration of inflation. [JEL 134]. Mode of access: Internet IMF Staff Papers; IMF Staff Papers ; No. 1989/003 Full text available on IMF http://elibrary.imf.org/view/journals/024/1989/003/024.1989.issue-003-en.xml IMF e-Library