Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/39642 
Erscheinungsjahr: 
1999
Schriftenreihe/Nr.: 
ZEI Working Paper No. B 21-1999
Verlag: 
Rheinische Friedrich-Wilhelms-Universität Bonn, Zentrum für Europäische Integrationsforschung (ZEI), Bonn
Zusammenfassung: 
This paper examines the ending of moderate rates of inflation in three transition economies, the Czech Republic, Hungary and Poland at the end of 1998. We argue that the institutions for the conduct of monetary policy in these countries were relatively weak and that monetary policy was unsupported by fiscal policy and hampered by multiple objectives. Using a VAR model of inflation, we show that, under a variety of assumptions, foreign prices and the persistence of inflation are the key determinants of inflation in these countries. From this finding we conclude that the end of moderate inflation in the Czech Republic, Hungary and Poland was largely due to the decline in import prices in the second half of 1998, and thus it may be a temporary phenomenon.
Schlagwörter: 
Monetary and fiscal Policy
transition economies
moderate inflation
inflation targeting
JEL: 
P2
E5
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
284.51 kB





Publikationen in EconStor sind urheberrechtlich geschützt.