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In countries such as the Soviet Union, where wealth is mainly stored in monetary assets, the behavior of the money to income ratio is a poor indicator of the growth of undesired monetary balances (monetary overhang). In those countries a monetary overhang is primarily a wealth overhang, which...
Persistent link: https://www.econbiz.de/10014398228
This paper reviews the experience of 1990, the first year of Poland’s program of stabilization and reform. The background is described, including previous reform efforts and the crisis of the late 1980s. Then the various elements of the program are discussed, including fiscal adjustment, wage...
Persistent link: https://www.econbiz.de/10014398235
behavior, the fiscal deficit, inflation and the capital stock. Wage controls have been widely advocated as a response to the … capital decumulation and reduce inflation, since wage moderation implies higher government revenues from the profit tax and … degree of wage indexation is effective in lowering inflation if nominal wages do not provide, on average, full protection …
Persistent link: https://www.econbiz.de/10014398237
variability over a prolonged period of time, against a background of high inflation. Convergence toward international relative and …
Persistent link: https://www.econbiz.de/10014398244
This paper analyses inflation dynamics in the Central African Economic and Monetary Community (CEMAC) using a …. Imported commodity price shocks are significant in explaining inflation in the region. Governments are another driving force of … inflation dynamics mainly through controlled prices and the role of capital expenditure in domestic activity. In most CEMAC …
Persistent link: https://www.econbiz.de/10014398251
This paper studies the role of central bank communication of its economic assessment in shaping inflation dynamics … agents'' understanding of policy reasoning, could bring about less volatile inflation and interest rate dynamics, and afford …
Persistent link: https://www.econbiz.de/10014398309
regime with macroeconomic performance, inflation in particular. Stability of the exchange rate has generally been a by …-product of other policy choices. Even announcement effects of the regime on inflation-fighting credibility depend on the country …
Persistent link: https://www.econbiz.de/10014398350
determinants of inflation in GCC, using an empirical model that includes domestic and external factors. Inflation in major trading … through growth of credit and aggregate spending. In the short-run, binding capacity constraints also explain higher inflation … is easing capacity constraints and will ultimately help to moderate price inflation …
Persistent link: https://www.econbiz.de/10014398410
This paper examines the behavior of private sector credit in chronic inflation countries that undergo exchange rate …-based inflation stabilizations. It concludes that these programs are characterized by a strong increase in private sector credit, both …, and Israel support a negative statistically significant relationship between credit and inflation for Mexico, Argentina …
Persistent link: https://www.econbiz.de/10014398434
Since 1990 capital has started to move from industrial countries to developing regions like Latin America, the Middle East and parts of Asia. Reentry into international capital markets is a welcome turn of events for most countries. However, capital inflows are often associated with inflationary...
Persistent link: https://www.econbiz.de/10014398447