Sustained inflation in response to price liberalization
The author demonstrates that sustained inflation is a predictable response to price liberalization in the countries of the former Soviet Union. The author models the phenomenon in a dynamic macroeconomic framework,and demonstrates the immediate price jump followed by sustained inflation that has characterized the transitional economies of the former Soviet Union. The author supports the theoretical derivation with a simulation exercise that demonstrates the scope of sustained inflation for specific parameters.
|Date of creation:||31 Oct 1994|
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- Campbell, John Y, 1987.
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IMF Working Papers
91/100, International Monetary Fund.
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- Conway, Patrick, 1994. "The economics of cash shortage," Policy Research Working Paper Series 1367, The World Bank.
- Ickes, B.W. & Ryterman, R., 1992. "Inter-Enterprise Arrears and Financial Underdevelopment in Russia," Papers 9-92-6, Pennsylvania State - Department of Economics.
- Dornbusch, Rudiger, 1992. "Lessons from Experiences with High Inflation," World Bank Economic Review, World Bank Group, vol. 6(1), pages 13-31, January.
- International Monetary Fund, 1992. "Bank Insolvency and Stabilization in Eastern Europe," IMF Working Papers 92/9, International Monetary Fund.
- Giovannini, Alberto & de Melo, Martha, 1993. "Government Revenue from Financial Repression," American Economic Review, American Economic Association, vol. 83(4), pages 953-63, September.
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