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Inflation in Albania

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  • Philipp Rother

Abstract

As Albania has succeeded in reducing inflation to very low levels, understanding the driving forces behind the behaviour of the price level becomes increasingly important for policy design. In particular, persistent changes in relative prices may contribute to movements of the aggregate price level, and policy makers need to decide to what extent such effects should be accommodated. This article provides insight into the nature and extent of relative price adjustments during the transition period, and argues that some of their inflationary effects should not be resisted.

Suggested Citation

  • Philipp Rother, 2002. "Inflation in Albania," Post-Communist Economies, Taylor & Francis Journals, vol. 14(1), pages 85-107.
  • Handle: RePEc:taf:pocoec:v:14:y:2002:i:1:p:85-107
    DOI: 10.1080/14631370120116707
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    References listed on IDEAS

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    1. Daniel Münich & Jan Svejnar & Katherine Terrell, 2005. "Returns to Human Capital Under The Communist Wage Grid and During the Transition to a Market Economy," The Review of Economics and Statistics, MIT Press, vol. 87(1), pages 100-123, February.
    2. Sharmini Coorey & Mauro Mecagni & Erik Offerdal, 1996. "Disinflation in Transition Economies; The Role of Relative Price Adjustment," IMF Working Papers 96/138, International Monetary Fund.
    3. Ball, Laurence & Mankiw, N Gregory, 1994. "Asymmetric Price Adjustment and Economic Fluctuations," Economic Journal, Royal Economic Society, vol. 104(423), pages 247-261, March.
    4. Robert J. Flanagan, 1995. "Wage Structures in the Transition of the Czech Economy," IMF Staff Papers, Palgrave Macmillan, vol. 42(4), pages 836-854, December.
    5. Thierry Pujol & Mark E Griffiths, 1996. "Moderate Inflation in Poland; A Real Story," IMF Working Papers 96/57, International Monetary Fund.
    6. Laurence Ball & N. Gregory Mankiw, 1995. "Relative-Price Changes as Aggregate Supply Shocks," The Quarterly Journal of Economics, Oxford University Press, vol. 110(1), pages 161-193.
    7. C. McNeilly & Doris Schiesser-Gachnang, 1998. "Reducing Inflation; Lessons From Albania's Early Success," IMF Working Papers 98/78, International Monetary Fund.
    8. Christopher J. Jarvis, 1999. "The Rise and Fall of the Pyramid Schemes in Albania," IMF Working Papers 99/98, International Monetary Fund.
    9. Jan Rutkowski, 1996. "High skills pay off: the changing wage structure during economic transition in Poland," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 4(1), pages 89-112, May.
    10. Robert J. Flanagan, 1995. "Wage Structure in the Transition of the Czech Economy," IMF Working Papers 95/36, International Monetary Fund.
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    Cited by:

    1. Marek Dabrowski & Wojciech Paczynski & Lukasz Rawdanowicz, 2002. "Inflation and Monetary Policy in Russia: Transition Experience and Future Recommendations," CASE Network Studies and Analyses 0241, CASE-Center for Social and Economic Research.
    2. Pelipas, Igor, 2006. "Money demand and inflation in Belarus: Evidence from cointegrated VAR," Research in International Business and Finance, Elsevier, vol. 20(2), pages 200-214, June.
    3. Erjon Luci & Marta Muco & Peter Sanfey, 2001. "Stabilization, monetary policy and financial institutions in Albania," wiiw Balkan Observatory Working Papers 16, The Vienna Institute for International Economic Studies, wiiw.
    4. repec:onb:oenbfi:y:2005:i:1:b:5 is not listed on IDEAS

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