Yugoslav Inflation And Money
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Yugoslav Inflation And Money
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Author : Ashok Lahiri
language : en
Publisher: International Monetary Fund
Release Date : 1991-05-01
Yugoslav Inflation And Money written by Ashok Lahiri and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991-05-01 with Business & Economics categories.
Yugoslav inflation unfolded as a classic wage-price-exchange rate spiral through the 1970s and 1980s and exploded into hyperinflation in the last quarter of 1989. This paper examines the process of monetary accommodation of inflation, the behavior of demand for money, and the interaction between the two in Yugoslavia. The asset-liability structure of the Central Bank, together with the policy stance on exchange and interest rates, led to a significant feedback from inflation to money supply. Real money balances are found to have been cointegrated with other economic variables despite their explosive and seasonal nature, and hence in long-run equilibrium relationship as economic theory would suggest.
Yugoslav Inflation And Money
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Author : Ashok Kumar Lahiri
language : en
Publisher:
Release Date : 2006
Yugoslav Inflation And Money written by Ashok Kumar Lahiri and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.
Yugoslav inflation unfolded as a classic wage-price-exchange rate spiral through the 1970s and 1980s and exploded into hyperinflation in the last quarter of 1989. This paper examines the process of monetary accommodation of inflation, the behavior of demand for money, and the interaction between the two in Yugoslavia. The asset-liability structure of the Central Bank, together with the policy stance on exchange and interest rates, led to a significant feedback from inflation to money supply. Real money balances are found to have been cointegrated with other economic variables despite their explosive and seasonal nature, and hence in long-run equilibrium relationship as economic theory would suggest.
The Yugoslav Hyperinflation Causes And Remedies
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Author : Aleksander Bajt
language : en
Publisher:
Release Date : 1990
The Yugoslav Hyperinflation Causes And Remedies written by Aleksander Bajt and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990 with Economic stabilization categories.
With communism dead and buried, East European countries have entered a long and painful period of rebuilding their economies. In the years to come they will have to face two crucial problems: inflation and unemployment. Those problems are unavoidable consequences of economic mismanagement since the late 1940s. Professor Aleksander Bajt, a distinguished Yugoslav economist, recently wrote a paper on the causes of inflation, its propagation, and its remedies in Yugoslavia. We think that this paper captures the essence of economic issues in Eastern Europe.
The Role Of Income In Money Demand During Hyper Inflation The Case Of Yugoslavia
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Author : Zorica Mladenović
language : en
Publisher:
Release Date : 2009
The Role Of Income In Money Demand During Hyper Inflation The Case Of Yugoslavia written by Zorica Mladenović and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.
Inflation And Stabilization In Yugoslavia
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Author : Roberto Rezende Rocha
language : en
Publisher:
Release Date : 1991
Inflation And Stabilization In Yugoslavia written by Roberto Rezende Rocha and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with Economic stabilization categories.
A successful stabilization program in Yugoslavia requires more political resolve about wage indiscipline and loss-making enterprises than was observed in 1990. But the ultimate question is whether stabilization can succeed without a comprehensive privatization program.
Financial Arrangements Soft Budget Constraints And Inflation
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Author : C. E. V. Borio
language : en
Publisher:
Release Date : 1990
Financial Arrangements Soft Budget Constraints And Inflation written by C. E. V. Borio and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990 with Budget categories.
Monetary Accommodation In Transition Economies
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Author : Pavle Petrovic
language : en
Publisher:
Release Date : 2001
Monetary Accommodation In Transition Economies written by Pavle Petrovic and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with categories.
A conjecture, advanced by some ad hoc evidence and the theory that money accommodates wage inflation in transition economies, is tested and accepted for Yugoslavia's high inflation of the 1980's. Within a cointegration framework, an overidentified long-run structure is estimated and accepted, where money is cointegrated with wages while not with prices. Furthermore, two independent common stochastic trends emerge, suggesting that aggregate supply shocks (i.e. those to wages and prices) and exchange rate shocks were driving Yugoslavia's high inflation, while the impact of money supply shocks was transitory. These results are due to the presence of soft budget constraint where money passively validated wage and price decisions, and to the Yugoslav debt and balance of payments crises in the 1980's which triggered exchange rate shocks. The results on the role of aggregate supply shocks might bear general relevance for transition economies.
Monetary Reform And The Development Of A Yugoslav Market Economy
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Author : Steve H. Hanke
language : en
Publisher:
Release Date : 1991
Monetary Reform And The Development Of A Yugoslav Market Economy written by Steve H. Hanke and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with Commerce categories.
Financial Arrangements Soft Budget Constraints And Inflation
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Author : Claudio E. V. Borio
language : en
Publisher:
Release Date : 2013
Financial Arrangements Soft Budget Constraints And Inflation written by Claudio E. V. Borio and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
This paper explores primarily how financial arrangements may be responsible for creating or exacerbating inflationary pressures in Yugoslavia. The ways in which financial arrangements can contribute to inflation are discussed under three different headings: misallocation of savings and credit, failure to enforce financial discipline and accommodation by the monetary authorities. Ultimately, however, these are to a significant extent manifestations of the same phenomenon. They describe a situation where resources can be obtained without adequate screening and monitoring, where their apparent cost does not reflect their scarcity value, where agents are capable of shifting the costs of economic failure on to the quot;governmentquot;, where, therefore, there do not exist proper mechanisms for discriminating between productive and unproductive economic behaviour. Under these conditions, not only can inflation be generated or perpetuated, but traditional measures of government transfers and related monetary financing lose much of their significance.
The Yugoslav Hard Currency Debt And The Process Of Economic Reform Since 1948
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Author : Marko Milivojević
language : en
Publisher:
Release Date : 1989
The Yugoslav Hard Currency Debt And The Process Of Economic Reform Since 1948 written by Marko Milivojević and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989 with Debts, External categories.