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Implications for Monetary Policy
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administrative price aggregate inflation Albania's inflation analysis asymmetric price adjustments average inflation Balassa-Samuelson effect behavior broad money Bulgaria Chow tests Coefficient of Variation cointegrating Coorey CPI basket cumulative price changes cumulative price increases decline dynamic specification error bands evidence Figure footwear foreign price full sample IMF Working Paper impact of skewed impact on inflation individual price changes induce inflation in 2000 inflation rates inflationary impact interest rate International Monetary Fund lagged macroeconomic macroeconomic variables menu costs monetary and fiscal monetary policy money supply nominal appreciation nominal exchange rate number of skewed percentage points positive price adjustments price distribution price level price liberalization price of nontradables pyramid schemes rates in Albania reflect relative price adjustments relative price changes relative wage adjustment remittances satellite dishes sector skewed price adjustments skewed relative price symmetric shocks transition economies transportation trend inflation underlying upward bias Wage Structure weight in percent