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Inflation in Albania

  • Philipp Rother

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.

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Article provided by Taylor & Francis Journals in its journal Post-Communist Economies.

Volume (Year): 14 (2002)
Issue (Month): 1 ()
Pages: 85-107

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Handle: RePEc:taf:pocoec:v:14:y:2002:i:1:p:85-107
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  1. Münich, Daniel & Svejnar, Jan & Terrell, Katherine, 1999. "Returns to Human Capital Under the Communist Wage Grid and During the Transition to a Market Economy," CEPR Discussion Papers 2332, C.E.P.R. Discussion Papers.
  2. 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, 05.
  3. Ball, L. & Mankiw, N.G., 1992. "Asymmetric Price Adjustment and Economic Fluctuations," Harvard Institute of Economic Research Working Papers 1602, Harvard - Institute of Economic Research.
  4. C. McNeilly & Doris Schiesser-Gachnang, 1998. "Reducing Inflation; Lessons From Albania's Early Success," IMF Working Papers 98/78, International Monetary Fund.
  5. Robert J. Flanagan, 1995. "Wage Structure in the Transition of the Czech Economy," IMF Working Papers 95/36, International Monetary Fund.
  6. Christopher J. Jarvis, 1999. "The Rise and Fall of the Pyramid Schemes in Albania," IMF Working Papers 99/98, International Monetary Fund.
  7. 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.
  8. Ball, L. & Mankiw, G.H., 1992. "Relative-Price Change as Aggregate Supply Shocks," Harvard Institute of Economic Research Working Papers 1609, Harvard - Institute of Economic Research.
  9. Thierry Pujol & Mark E. L. Griffiths, 1996. "Moderate Inflation in Poland; A Real Story," IMF Working Papers 96/57, International Monetary Fund.
  10. 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.
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