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Household Demand for Money in Poland

Household Demand for Money in Poland »

Source: Household Demand for Money in Poland : Theory and Evidence

Volume/Issue: 1992/6

Series: IMF Working Papers

Author(s): Timothy Lane

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1992

ISBN: 9781451842234

Keywords: inflation, black market, money demand, foreign currency

This paper examines the household demand for narrow money in Poland during the 1980s. At that time, there were shortages, but informal trade in both goods and foreign exchange was common, and holdings of foreign cu...

General Equilibrium Under Shortage

General Equilibrium Under Shortage »

Source: General Equilibrium Under Shortage : A Generalized Barro-Grossman Model

Volume/Issue: 1991/59

Series: IMF Working Papers

Author(s): Kent Osband

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 1991

ISBN: 9781451965667

Keywords: black market, real money, inflation, general equilibrium

In several recent articles, the Barro-Grossman model of general equilibrium under shortage has been modified to incorporate money demand and alternative retail sales mechanisms. This paper extends this work to allo...

A Simple Monetary Model of a Shortage Economy

A Simple Monetary Model of a Shortage Economy »

Source: A Simple Monetary Model of a Shortage Economy

Volume/Issue: 1992/69

Series: IMF Working Papers

Author(s): Shoukang Lin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 1992

ISBN: 9781451960662

Keywords: wage, black market, wages, inflation, money supply

During the transition from a centrally planned economy to a market economy, many countries seem to have experienced some degree of macroeconomic instability. This paper attempts to provide a theoretical explanation...

Foreign Exchange Queues, Informal Traders, and a Zero Premium in the Black Market

Foreign Exchange Queues, Informal Traders, and a Zero Premium in the Black Market »

Source: Foreign Exchange Queues, Informal Traders, and a Zero Premium in the Black Market : A Cape Verdean Puzzle

Volume/Issue: 1999/110

Series: IMF Working Papers

Author(s): Jan-Peter Olters

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 1999

ISBN: 9781451853322

Keywords: Foreign exchange queues, black markets, unrequited transfers, foreign exchange, exchange rate, foreign currency, black market, foreign exchange market

During 1996–98, several indicators hinted at the apparent unsustainability of Cape Verde’s exchange rate peg. The country, faced with a considerable backlog of approved but unmet applications for fore...

Index Number Biases During Price Liberalization

Index Number Biases During Price Liberalization »

Source: Index Number Biases During Price Liberalization

Volume/Issue: 1991/76

Series: IMF Working Papers

Author(s): Kent Osband

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 1991

ISBN: 9781451849776

Keywords: inflation, black market, money supply, inflation rates, inflation rate

When a formerly centrally-planned economy frees prices and allows or compels producers to respond to market signals, conventional measures tend to severely overstate short–run output decline and inflation. I...

Multiple Exchange Rates, Fiscal Deficits and Inflation Dynamics

Multiple Exchange Rates, Fiscal Deficits and Inflation Dynamics »

Source: Multiple Exchange Rates, Fiscal Deficits and Inflation Dynamics

Volume/Issue: 1996/56

Series: IMF Working Papers

Author(s): Vincent Bodart

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 1996

ISBN: 9781451968378

Keywords: exchange rate, exchange rates, foreign exchange, black market

The paper explores the inflationary implications of exchange rate regime reforms in a small open economy model combining the public finance view of inflation with multiple exchange markets. To account for the exper...

Exchange-Rate Unification with Black Market Leakages

Exchange-Rate Unification with Black Market Leakages »

Source: Exchange-Rate Unification with Black Market Leakages : Russia 1992

Volume/Issue: 1993/13

Series: IMF Working Papers

Author(s): Linda Goldberg

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 1993

ISBN: 9781451924794

Keywords: foreign exchange, exchange rate, black market, exchange rates, market exchange rate

In 1992 Russia unified the multiple exchange rates that had applied to international transactions. This paper describes the multiple exchange rate system that existed in Russia prior to mid-1992 and undertakes a th...

Once Again, is Openness Good for Growth?1

Once Again, is Openness Good for Growth?1 »

Source: Once Again, is Openness Good for Growth?

Volume/Issue: 2004/135

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2004

ISBN: 9781451855739

Keywords: Trade openness, endogeneity, identification through heteroskedasticity, black market, equations, equation, black market premium, correlation, Trade: General, Economic Growth of Open Economies

Rodriguez and Rodrik (2000) argue that the relation between openness and growth is still an open question. One of the main problems in the assessment of the effect is the endogeneity of the relation. In order to ad...

Inflation and the Black Market Exchange Rate in a Repressed Market

Inflation and the Black Market Exchange Rate in a Repressed Market »

Source: Inflation and the Black Market Exchange Rate in a Repressed Market : A Model of Venezuela

Volume/Issue: 2016/159

Series: IMF Working Papers

Author(s): Valerie Cerra

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 August 2016

ISBN: 9781475523201

Keywords: inflation; black market; exchange rate; Venezuela; foreign exchange rationing; scarcity; cash in advance constraint; oil revenue; fiscal dominance

This paper presents a stylized general equilibrium model of the Venezuelan economy. The model explains how the recent sharp fall in oil revenue combines with foreign exchange rationing to produce a steep rise in in...

Inflation and Conflict in Iraq

Inflation and Conflict in Iraq »

Source: Inflation and Conflict in Iraq : The Economics of Shortages Revisitedont

Volume/Issue: 2010/159

Series: IMF Working Papers

Author(s): Udo Kock , and David Grigorian

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2010

ISBN: 9781455201426

Keywords: shortages, strategic behavior, black market, money supply, monetary policy, price level, Studies of Particular Policy Episodes, Socialist Enterprises and Their Transitions,

Containing inflation has turned out to be one of the most challenging aspects of economic management in Iraq. This paper posits that conventional as well as unconventional factors explain inflation dynamics in the...