Moderate inflation: the experience of transition economies
International Monetary Fund, Jul 1, 1998 - Business & Economics - 283 pages
Many countries, including several transition economies, have in the last few years recorded a sharp decline in inflation, but have been unable to bring inflation down to lower single digits or to achieve price stability. In these countries, inflation has stabilized at moderate levels, with further progress becoming seemingly more difficult. What are the problems created by moderate inflation? What is the appropriate speed of disinflation? These and other issues related to disinflation in transition economies are taken up in this book, edited by Carlo Cottarelli and Gyorgy Szapáry.
What people are saying - Write a review
We haven't found any reviews in the usual places.
Inflation in Hungary 199097
6 other sections not shown
Other editions - View all
Moderate Inflation: The Experience of Transition Economies
Carlo Cottarelli,György Szapáry
Limited preview - 1998
achieved administered prices balance Balassa-Samuelson effect band Bank of Hungary Blanchard capital inflows central bank Chile consumer price cost of disinflation countries credibility Croatia Czech Republic debt decline demand devaluation disinflation domestic Eastern Europe estimates Estonia exchange rate policy exchange rate regime external f3tor factor fiscal adjustment fiscal deficit fiscal policy flation high inflation Hungary hyperinflation important incomes policy inertia inflation rate initial interest rates International Monetary Fund Latvia macroeconomic moderate inflation Moldova monetary policy money growth nominal anchor nominal exchange rate nominal wages nontradables paper percent of GDP period Poland policymakers problem real appreciation real exchange rate real wages reducing inflation reform relative price adjustment relative price changes relative price variability result role sacrifice ratio sector seigniorage shocks significant single-digit Slovenia stabilization structural substantial supply shocks sustained Table tightening tion transition economies U.S. dollar unemployment wage growth wage indexation