Coorey, Sharmini
[Verfasser:in]
;
Mecagni, Mauro
[Sonstige Person, Familie und Körperschaft];
Offerdal, Erik
[Sonstige Person, Familie und Körperschaft]
Erschienen in:IMF Working Paper, Vol. , pp. 1-98, 1996
Umfang:
1 Online-Ressource (98 p)
Sprache:
Englisch
DOI:
10.2139/ssrn.883035
Identifikator:
Entstehung:
Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments December 1996 erstellt
Beschreibung:
In light of the persistence of moderate inflation in many transition economies, this paper analyzes whether inflation resulted from insufficiently tight financial policies and wage pressures or from the protracted adjustment of relative prices. Using a new database for 21 countries, the effect of relative price variability on inflation is estimated within a framework controlling for nominal and real shocks. Money and wage growth were the most important determinants of inflation; relative price variability had a sizable effect at high inflation during initial liberalization and a small effect at moderate inflation. Cost recovery may contribute to variability, particularly in the advanced stages of the transition