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Post-stabilization inflation dynamics in Slovenia

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  • Kevin Ross

Abstract

This paper investigates the inflation process in Slovenia through an examination of some commonly used determinants of inflation in transition economies. Granger causality tests and an analysis of unrestricted VAR models suggest a strong linkage between both growth in broader monetary aggregates and changes in the tolar-deutsche mark exchange rate on retail price inflation. While the growth in wages affects inflation, it appears that both changes in the exchange rate and growth in monetary aggregates provide the initial impulse. A discussion of the present money-exchange rate policy framework and its influence on inflation is also provided.

Suggested Citation

  • Kevin Ross, 2000. "Post-stabilization inflation dynamics in Slovenia," Applied Economics, Taylor & Francis Journals, vol. 32(2), pages 135-149.
    • Handle: RePEc:taf:applec:v:32:y:2000:i:2:p:135-149
    DOI: 10.1080/000368400322831
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    References listed on IDEAS

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    1. Mr. Carlos A. Végh Gramont & Ms. Ratna Sahay, 1995. "Inflation and Stabilization in Transition Economies: A Comparison with Market Economies," IMF Working Papers 1995/008, International Monetary Fund.
    2. Richards, Anthony J. & Tersman, Gunnar H. R., 1996. "Growth, Nontradables, and Price Convergence in the Baltics," Journal of Comparative Economics, Elsevier, vol. 23(2), pages 121-145, October.
    3. Ms. Sharmini Coorey & Mr. Mauro Mecagni & Mr. Erik Offerdal, 1996. "Disinflation in Transition Economies: The Role of Relative Price Adjustment," IMF Working Papers 1996/138, International Monetary Fund.
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    Cited by:

    1. Nikolay Nenovsky & Kalina Dimitrova, 2002. "Dual Inflation Under the Currency Board: The Challenges of Bulgarian EU Accession," William Davidson Institute Working Papers Series 487, William Davidson Institute at the University of Michigan.
    2. Erjavec, Natasa, 2003. "Applied macroeconometrics in transition economy: Croatian experience," LSE Research Online Documents on Economics 23444, London School of Economics and Political Science, LSE Library.
    3. Boriss Siliverstovs & Olena Bilan, 2006. "Modeling Inflation Dynamics in Transition Economies: The Case of Ukraine," Eastern European Economics, Taylor & Francis Journals, vol. 43(6), pages 66-81, December.
    4. Luis A. Gil-Alana & Andrea Mervar & James E. Payne, 2017. "The stationarity of inflation in Croatia: anti-inflation stabilization program and the change in persistence," Economic Change and Restructuring, Springer, vol. 50(1), pages 45-58, February.
    5. Khemraj, Tarron & Langrin, R. Brian, 2009. "Dynamic interactions of bank assets in two foreign currency constrained economies," MPRA Paper 36620, University Library of Munich, Germany, revised Nov 2010.
    6. Billmeier, Andreas & Bonato, Leo, 2004. "Exchange rate pass-through and monetary policy in Croatia," Journal of Comparative Economics, Elsevier, vol. 32(3), pages 426-444, September.
    7. Max Gillman & Anton Nakov, 2004. "Granger causality of the inflation–growth mirror in accession countries," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 12(4), pages 653-681, December.
    8. Vesna BUCEVSKA, 2010. "A Macroeconometric Model for the Republic of Macedonia," EcoMod2004 330600030, EcoMod.
    9. Payne, James E., 2002. "Inflationary dynamics of a transition economy: the Croatian experience," Journal of Policy Modeling, Elsevier, vol. 24(3), pages 219-230, June.
    10. Lena Malesevic-Perovic, 2009. "Cointegration Approach to Analysing Inflation in Croatia," Financial Theory and Practice, Institute of Public Finance, vol. 33(2), pages 201-218.

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