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https://hdl.handle.net/10419/39580
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DC Field | Value | Language |
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dc.contributor.author | Dibooglu, Selahattin | en |
dc.contributor.author | Kutan, Ali M. | en |
dc.date.accessioned | 2010-09-01T09:48:13Z | - |
dc.date.available | 2010-09-01T09:48:13Z | - |
dc.date.issued | 2001 | - |
dc.identifier.uri | http://hdl.handle.net/10419/39580 | - |
dc.description.abstract | This 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. | en |
dc.language.iso | eng | en |
dc.publisher | |aRheinische Friedrich-Wilhelms-Universität Bonn, Zentrum für Europäische Integrationsforschung (ZEI) |cBonn | en |
dc.relation.ispartofseries | |aZEI Working Paper |xB 16-2001 | en |
dc.subject.jel | E3 | en |
dc.subject.jel | P2 | en |
dc.subject.jel | O5 | en |
dc.subject.jel | C5 | en |
dc.subject.ddc | 330 | en |
dc.subject.keyword | Business Cycles | en |
dc.subject.keyword | Inflation | en |
dc.subject.keyword | Transition Economies | en |
dc.subject.keyword | Time Series Models | en |
dc.subject.stw | Inflation | en |
dc.subject.stw | Konjunktur | en |
dc.subject.stw | Schock | en |
dc.subject.stw | Übergangswirtschaft | en |
dc.subject.stw | Schätzung | en |
dc.subject.stw | VAR-Modell | en |
dc.subject.stw | U | en |
dc.title | Sources of inflation and output fluctuations in Poland and Hungary: Implications for full membership in the European Union | - |
dc.type | |aWorking Paper | en |
dc.identifier.ppn | 825487730 | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
dc.identifier.repec | RePEc:zbw:zeiwps:B162001 | en |
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