Many inflation stabilizations succeed only temporarily. Using a sample of 51 episodes of stabilization from inflation levels above 40 percent, we show that most

This paper describes the importance of luck, timing, and political institutions in beating inflation. The paper highlights that countries experiencing high infl

Based on the observed behavior of monetary aggregates and exchange rates, we classify inflation-stabilization episodes into two categories: de facto exchange ra

Latin America and the Caribbean has been one of the regions of the world with the greatest inequality. This book explores why the region suffers from such persi

"Coercive isomorphism is a prominent source of institutional change. The literature to date has emphasized how actors that are powerful and legitimate (for exam