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Output Changes and Inflationary Bias in Transition

Author

Listed:
  • 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.

Suggested Citation

  • Randall K. Filer & Jan Hanousek, 2001. "Output Changes and Inflationary Bias in Transition," Macroeconomics 0012010, University Library of Munich, Germany.
    • Handle: RePEc:wpa:wuwpma:0012010
    Note: Type of Document - Adobe PDF; pages: 17 ; figures: included
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    References listed on IDEAS

    as
    1. Gylfason, Thorvaldur & Herbertsson, Tryggvi Thor, 2001. "Does inflation matter for growth?," Japan and the World Economy, Elsevier, vol. 13(4), pages 405-428, December.
    2. International Monetary Fund, 2000. "The Great Contractions in Russia, the Baltics and the Other Countries of the Former Soviet Union: A View From the Supply Side," IMF Working Papers 2000/032, International Monetary Fund.
    3. Vincent Koen, 1997. "Price Measurement and Mismeasurement in Central Asia," Palgrave Macmillan Books, in: Jane Falkingham & Jeni Klugman & Sheila Marnie & John Micklewright (ed.), Household Welfare in Central Asia, chapter 2, pages 21-41, Palgrave Macmillan.
    4. Ms. Paula De Masi & Mr. Vincent Koen, 1997. "Prices in the Transition: Ten Stylized Facts," IMF Working Papers 1997/158, International Monetary Fund.
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    Keywords

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    JEL classification:

    • C8 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs
    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles
    • P2 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies

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