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A Simple Model of Inflation
Policy Options for Disinflation A Simulation Analysis
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acceleration aggregate demand aggregate supply ALTERNATIVE EXCHANGE Bank of Hungary based exchange rate Central Statistical Office coefficients consumer prices Countries CPI inflation current account demand and aggregate domestic EPnVP estimates of price exchange rate policy exchange rate-based stabilization exports external competitiveness fixed exchange rate fixing the exchange foreign inflation function GNFS imported intermediate inputs increase inflation rate inflationary process macroeconomic markets money growth money supply National Bank nominal anchor nominal exchange rate nominal wages October 1993 October output percent per month percentage points policy of fixing Policy Research policy simulations post-socialist transitions PPI equation PPP rule price equations price formation price level price of imported Producer Price Index rate of change rate of devaluation rate of growth rate of inflation rate of money real appreciation real exchange rate real interest rate recession reducing the rate reform relative prices Research Working Paper sector Stabilization Policies strategy Table transition economies