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Book Cover
Author Sahay, Ratna, author

Title Inflation and stabilization in transition economies : a comparison with market economies / prepared by Ratna Sahay and Carlos Végh
Published [Washington, D.C.] : International Monetary Fund, [1995]
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Description 1 online resource (iv, 44 pages) : illustrations
Series IMF working paper ; no. 95/8
IMF working paper ; WP/95/8
Summary Annotation A simple model is developed to understand inflationary pressures and stabilization in nonmarket economies. In light of the model, the paper reviews the inflation and stabilization experiences of several transition economies in Eastern Europe and the former Soviet Union. These experiences are then compared to those of high inflation market economies. the paper concludes that, despite significant differences in the economic structure and institutional framework, the inflation and stabilization experiences in transition and market economies are similar in many respects. In particular, monetary accommodation and lack of fiscal discipline are critical in sustaining inflation, and exchange rate-based anchors seem more successful than money anchors in bringing down inflation. on the other hand, wage policies appear to be more critical in reigning inflation in transition economies than in market economies
Bibliography Includes bibliographical references
Notes Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. MiAaHDL
digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL
Print version record
Subject Inflation (Finance) -- Europe, Eastern.
Inflation (Finance) -- Soviet Union.
Price regulation -- Europe, Eastern.
Price regulation -- Soviet Union.
Form Electronic book
Author Végh Gramont, Carlos A., 1958- author
International Monetary Fund. Research Department, issuing body
ISBN 1281988901