Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/39580
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dc.contributor.authorDibooglu, Selahattinen_US
dc.contributor.authorKutan, Ali M.en_US
dc.date.accessioned2010-09-01T09:48:13Z-
dc.date.available2010-09-01T09:48:13Z-
dc.date.issued2001en_US
dc.identifier.urihttp://hdl.handle.net/10419/39580-
dc.description.abstractThis paper examines the sources of fluctuations in inflation and output in two leading transitioneconomycandidates for admission to the European Union (EU), Poland and Hungary. Using arational expectations, dynamic open economy aggregate supply- aggregate demand model, weconsider real oil price, supply, balance of payments, demand, and monetary disturbancesincorporating important features of transition economies such as balance of payments disturbancesand finite capital mobility. Evidence indicates that supply shocks explain a sizable portion of pricelevel movements in Hungary while demand shocks are dominant in price level movements inPoland. Monetary shocks are an important source of output fluctuations in the short run inHungary suggesting nominal inertia. In Poland, real demand shocks affect output in the short run(up to one year), while monetary shocks are negligible. Estimates of “core inflation” based onhistorical realizations of the shocks suggest that a major component of inflation has been demanddriven, “core” inflation. Finally, policy implications of these findings regarding EU membershipare evaluated.-
dc.language.isoengen_US
dc.publisher|aZEI |cBonnen_US
dc.relation.ispartofseries|aZEI working paper |xB 16-2001en_US
dc.subject.jelE3-
dc.subject.jelP2-
dc.subject.jelO5-
dc.subject.jelC5-
dc.subject.ddc330en_US
dc.subject.keywordBusiness Cycles-
dc.subject.keywordInflation-
dc.subject.keywordTransition Economies-
dc.subject.keywordTime Series Models-
dc.subject.stwInflationen_US
dc.subject.stwKonjunkturen_US
dc.subject.stwSchocken_US
dc.subject.stwÜbergangswirtschaften_US
dc.subject.stwSchätzungen_US
dc.subject.stwVAR-Modellen_US
dc.subject.stwUen_US
dc.titleSources of inflation and output fluctuations in Poland and Hungary: Implications for full membership in the European Unionen_US
dc.type|aWorking Paperen_US
dc.identifier.ppn825487730en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:zeiwps:B162001-

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