Suriname: A Case Study of High Inflation

November 1, 1999

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Sukhdev Shah, and Benedikt Braumann. Suriname: A Case Study of High Inflation, (USA: International Monetary Fund, 1999) accessed November 9, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

Suriname recently went through a period of destabilizationthat that bordered on hyperinflation. The country’s experience provides a good illustration to study the genesis and dynamics of high inflation and includes some unusual phenomena, such as a monetary overhang, an eight-tiered exchange rate, and inflationary gold purchases by the central bank. High inflation also had a significant impact on the real economy. This paper compares the experience of Suriname with other countries discussed in the recent stabilization literature. It finds strong evidence of intertemporal demand effects, which occurred as the public reacted to the temporary bout of high inflation.

Subject: Consumption, Foreign exchange, Government debt management, Inflation, Labor, National accounts, Prices, Public financial management (PFM), Real exchange rates, Real wages

Keywords: Budget deficit, Caribbean, Consumption, Eastern Europe, Excess supply, Exchange rate, Government debt management, Inflation, Inflation act, Inflation period, Inflation rate, Inflation result, Inflationary spiral, Monetary overhang, Multiple exchange rates, Non-neutralities, Phillips curve, Price level, Real exchange rates, Real wages, WP

Publication Details

Pages:

24
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 1999/157
Stock No:

WPIEA1571999
ISBN:

9781451857474
ISSN:

1018-5941

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