Inflation Stabilization, Fiscal Deficits and Public Debt Management in Poland
AbstractPoland edged towards hyperinflation towards the latter half of 1989,but inflation fell dramatically after drastic reformswere enacted in January of 1990. We analyse the consistency betweenfiscal deficits and inflation targets and assessPoland's domestic and foreign debt management policies and the impactof the Brady debt reduction agreement on therelationship between fiscal deficits and inflation. We also assessthe impact of financial sector measures on seignioragerevenue and the sustainability of the low inflation strategy. Suchpolicies are shown to have a direct impact on thesustainability of inflation targets.
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Bibliographic InfoPaper provided by Tinbergen Institute in its series Tinbergen Institute Discussion Papers with number 99-022/2.
Date of creation: 19 Mar 1999
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Fiscal deficits; Public debt; Money demand; Seigniorage;
Other versions of this item:
- van Wijnbergen, Sweder & Budina, Nina, 2001. "Inflation Stabilization, Fiscal Deficits, and Public Debt Management in Poland," Journal of Comparative Economics, Elsevier, vol. 29(2), pages 293-309, June.
- E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy
- F34 - International Economics - - International Finance - - - International Lending and Debt Problems
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
- E41 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Demand for Money
This paper has been announced in the following NEP Reports:
- NEP-ALL-1999-05-10 (All new papers)
- NEP-MON-1999-05-10 (Monetary Economics)
- NEP-PKE-1999-05-10 (Post Keynesian Economics)
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