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Output Changes and Inflationary Bias in Transition

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Author Info

  • Randall K. Filer

    (Hunter College & The Graduate Center at City University of New York)

  • Jan Hanousek

    (CERGE-EI)

Abstract

Mismeasurement of inflation is likely to be more severe in a transition economy than in a more stable environment. Reasonable estimates of the size of the inflationary bias in the Czech Republic suggest that conventionally reported declines in real output and living standards during the transition may be a statistical artifact rather than a real phenomenon.

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File URL: http://128.118.178.162/eps/mac/papers/0012/0012010.pdf
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Bibliographic Info

Paper provided by EconWPA in its series Macroeconomics with number 0012010.

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Length: 17 pages
Date of creation: 05 Feb 2001
Date of revision:
Handle: RePEc:wpa:wuwpma:0012010

Note: Type of Document - Adobe PDF; pages: 17 ; figures: included
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Web page: http://128.118.178.162

Related research

Keywords: Inflation; Transition; Bias; GDP growth;

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  1. Vincent Koen, 1995. "Price Measurement and Mismeasurement in Central Asia," IMF Working Papers 95/82, International Monetary Fund.
  2. Gylfason, Thorvaldur & Herbertsson, Tryggvi Thor, 1996. "Does Inflation Matter for Growth?," CEPR Discussion Papers 1503, C.E.P.R. Discussion Papers.
  3. International Monetary Fund, 2000. "The Great Contractions in Russia, the Baltics and the Other Countries of the Former Soviet Union," IMF Working Papers 00/32, International Monetary Fund.
  4. Paula De Masi & Vincent Koen, 1997. "Prices in Transition," IMF Working Papers 97/158, International Monetary Fund.
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