Similar Search Results

Index Number Biases During Price Liberalization

Osband, Kent - 1991

When a formerly centrally-planned economy frees prices and allows or compels producers to respond to market signals, conventional measures tend to severely overstate short–run output decline and inflation. In part the overstatement stems from neglect of private sector activity, or from belated...

Persistent link: https://www.econbiz.de/10014398096

Market Liberalization Policies in a Reforming Socialist Economy

Dinopoulos, Elias - 1991

The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and...

Persistent link: https://www.econbiz.de/10014395972

Price Liberalization in a Reforming Socialist Economy : A Search Equilibrium Approach

Fanizza, Domenico - 1992

A bilateral search model of the commodity market is formulated to study the effects of liberalizing prices in a reforming socialist economy. The main result is that if the competitive structure of the economy is not quickly modified to eliminate supply rents, price liberalization may be...

Persistent link: https://www.econbiz.de/10014398133

The Austrian Theory of Business Cycles : Old Lessons for Modern Economic Policy?

Oppers, Stefan E. - 2002

This paper reviews the ""Austrian"" theory of the business cycle first proposed by Friedrich Hayek in the 1920s. His … theory claimed that credit creation by monetary authorities would push investment beyond society''s long-term willingness to … save, creating a mismatch between supply and demand that would inevitably cause recession. The theory argued, moreover …

Persistent link: https://www.econbiz.de/10014400055

The modern hyperinflation cycle : some new empirical regularities

Saboin-García, José Luis - 2018

Using a database of up to 62 variables for 196 countries over 57 years, a hyperinflation cycle has been characterized to propose a broader setting of stylized facts. Beyond the usual facts, the findings in this paper contribute to the literature of modern hyperinflations in that these cycles...

Persistent link: https://www.econbiz.de/10011978555

The Underground Economy : Estimation, and Economic and Policy Implications: The Case of Pakistan

Shabsigh, Ghiath - 1995

This paper estimates the size of the underground economy in Pakistan and analyzes its impact on Government fiscal position and the allocation of economic resources in the national economy. The results suggest that there is a mutual dependency between the size of the underground economy and...

Persistent link: https://www.econbiz.de/10014398070

Price Reform and Durable Goods in the Transition to a Market Economy

Agénor, Pierre-Richard - 1993

The paper examines the short- and long-term effects of price liberalization in a reforming socialist economy. The analysis is based on an optimizing framework that highlights hoarding behavior and the existence of parallel goods markets. The behavior of official and parallel market prices, stock...

Persistent link: https://www.econbiz.de/10014396041

Fiscal discipline and exchange rates : does politics matter?

Jalles, João Tovar; Mulas Granados, Carlos; Tavares, José - 2016

We look at the effect of exchange rate regimes on fiscal discipline, taking into account the effect of underlying political conditions. We present a model where strong politics (defined as policymakers facing longer political horizon and higher cohesion) are associated with better fiscal...

Persistent link: https://www.econbiz.de/10011715661

Political institutions, state building, and tax capacity : crossing the tipping point

Gaspar, Vítor; Jaramillo, Laura; Wingender, Philippe - 2016

An empirical finding by Gaspar, Jaramillo and Wingender (2016) shows that once countries cross a tax-to-GDP threshold of around 12 3/4 percent, real GDP per capita increases sharply and in a sustained manner over the following decade. In this paper, we attempt via four case studies-Spain, China,...

Persistent link: https://www.econbiz.de/10011716283

Fiscal politics in the euro area

Eyraud, Luc; Gaspar, Vítor; Poghosyan, Tigran - 2017

This paper provides evidence of fiscal procyclicality, excessive deficits, distorted budget composition and poor compliance with fiscal rules in the euro area. Our analysis relies on real-time data for 19 countries participating in the euro area over 1999-2015. We look for, but do not find,...

Persistent link: https://www.econbiz.de/10011716502

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