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Inflation and Money Demand in Albania

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  • Sanja Kalra
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    Abstract

    The paper uses a simple analytical framework to estimate relationships between prices, money the exchange rate, and interest rates in Albania during 1993–97. The estimated parsimonious error correction model extends the findings of a growing literature on inflation and money demand in transition economies. The results suggest that, after the one-time effects of the 1997 crisis are taken into account, the long-run determinants of inflation and money demand remained unchanged. Strong financial policies since mid—1997 appear to have helped to restore conditions for low inflation and stable money demand.

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    Bibliographic Info

    Paper provided by International Monetary Fund in its series IMF Working Papers with number 98/101.

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    Length: 34
    Date of creation: 01 Jul 1998
    Date of revision:
    Handle: RePEc:imf:imfwpa:98/101

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    Cited by:
    1. Erjon Luci & Marta Muco & Peter Sanfey, 2001. "Stabilization, monetary policy and financial institutions in Albania," wiiw Balkan Observatory Working Papers, The Vienna Institute for International Economic Studies, wiiw 16, The Vienna Institute for International Economic Studies, wiiw.
    2. Mauricio Hernández Monsalve & Munir A. Jalil Barney & Carlos Esteban Posada, 2006. "¿Por qué ha crecido tanto la cantidad de dinero?: teoría y Evidencia Internacional (1975-2002)," BORRADORES DE ECONOMIA 003821, BANCO DE LA REPÚBLICA.
    3. Erjon Luci & Marta Muco & Elvira Sojli, 2006. "Euroisation in Albania: From Spontaneous to Consensual," wiiw Balkan Observatory Working Papers, The Vienna Institute for International Economic Studies, wiiw 71, The Vienna Institute for International Economic Studies, wiiw.
    4. Marek Dabrowski & Wojciech Paczynski & Lukasz Rawdanowicz, 2002. "Inflation and Monetary Policy in Russia: Transition Experience and Future Recommendations," CASE Network Studies and Analyses, CASE-Center for Social and Economic Research 0241, CASE-Center for Social and Economic Research.
    5. Pelipas, Igor, 2006. "Money demand and inflation in Belarus: Evidence from cointegrated VAR," Research in International Business and Finance, Elsevier, Elsevier, vol. 20(2), pages 200-214, June.
    6. Mauricio A. Hernández & Munir Jalil Barney & Carlos Esteban Posada, . "¿Por qué ha crecido tanto la cantidad de dinero?: teoría y evidencia internacional (1975-2002)§," Borradores de Economia 402, Banco de la Republica de Colombia.
    7. repec:wii:bpaper:bowp:071 is not listed on IDEAS

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