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Inflation, its Dynamics, and its Possible Causes in Albania

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Author Info

  • Kunst, Robert M.

    (Institute for Advanced Studies, Vienna)

  • Luniku, Rubin

    (Bank of Albania)

Abstract

This paper attempts to analyze the causes of the inflationary developments in Albania in the years 1994-1997 with the help of econometric methods. We consider monetary and fiscal expansion, imported inflation, and direct demand pull as possible causes. Except for significant effects of direct demand pull and of exchange rate devaluation, the statistical results give only moderate support to the classical economic causes. Seen this way, Albanian inflation appears to be mainly determined by its own expectations and by singular political events.

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File URL: http://www.ihs.ac.at/publications/eco/east/ro-57.pdf
File Function: First version, 1998
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Bibliographic Info

Paper provided by Institute for Advanced Studies in its series East European Series with number 57.

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Length: 35 pages
Date of creation: Sep 1998
Date of revision:
Handle: RePEc:ihs:ihsrop:57

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Related research

Keywords: Transition economy; Causality; Coitegration; Consumer price index;

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Cited by:
  1. Marta Muço & Peter Sanfey & Erjon Luçi, 2001. "Stabilization, monetary policy and financial institutions in Albania," wiiw Balkan Observatory Working Papers 016, The Vienna Institute for International Economic Studies, wiiw.

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