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

The Two Monetary Approaches to the Balance of Payments : Keynesian and Johnsonian

Polak, J. J. - 2001

This paper emphasizes the distinction between two ‘monetary approaches to the balance of payments’, one developed in the IMF, the other under the leadership of Harry Johnson in Chicago. The IMF approach is presented as an evolutionary development of the Kahn/Keynes multiplier model in an...

Persistent link: https://www.econbiz.de/10014403615

Sovereign Debt : A Survey of Some Theoretical and Policy Issues

Arora, Vivek B. - 1993

This paper surveys the literature on sovereign debt that deals with the issues of a country’s ability-to-pay, its willingness-to-pay, and the policy responses to the debt crisis of the 1980s. The existence of an ability-to-pay problem suggests a need for debt reduction, but plans for debt...

Persistent link: https://www.econbiz.de/10014396219

Capital regulation, liquidity requirements and taxation in a dynamic model of banking

De Nicolò, Gianni; Gamba, Andrea; Lucchetta, Marcella - 2012

Persistent link: https://www.econbiz.de/10009572425

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