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Disinflation in Transition
			: 1993-97

Disinflation in Transition : 1993-97 »

Series: Occasional Papers

Author(s): Peter Doyle , and Carlo Cottarelli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 August 1999

DOI: http://dx.doi.org/10.5089/9781557757975.084

ISBN: 9781557757975

Keywords: inflation, monetary fund, moderate inflation, central bank, inflation stabilization

The latest in a series of papers published by the International Monetary Fund on economies in transition examines the experience of disinflation in Central and Eastern Europe, the Baltics, Russia, and other countri...

Back Matter

Back Matter »

Source: Disinflation in Transition : 1993-97

Series: Occasional Papers

Author(s): Peter Doyle , and Carlo Cottarelli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 August 1999

ISBN: 9781557757975

Keywords: inflation, monetary fund, moderate inflation, central bank, inflation stabilization

The latest in a series of papers published by the International Monetary Fund on economies in transition examines the experience of disinflation in Central and Eastern Europe, the Baltics, Russia, and other countri...

Front Matter

Front Matter »

Source: Disinflation in Transition : 1993-97

Series: Occasional Papers

Author(s): Peter Doyle , and Carlo Cottarelli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 August 1999

ISBN: 9781557757975

Keywords: inflation, monetary fund, moderate inflation, central bank, inflation stabilization

The latest in a series of papers published by the International Monetary Fund on economies in transition examines the experience of disinflation in Central and Eastern Europe, the Baltics, Russia, and other countri...

I Introduction

I Introduction »

Source: Disinflation in Transition : 1993-97

Series: Occasional Papers

Author(s): Peter Doyle , and Carlo Cottarelli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 August 1999

ISBN: 9781557757975

Keywords: inflation, monetary fund, moderate inflation, central bank, inflation stabilization

Almost all transition countries experienced an initial spike in inflation at the outset of the reform process as price controls were removed. The speed of the subsequent disinflations, however, varied marked...

II Inflation Developments

II Inflation Developments »

Source: Disinflation in Transition : 1993-97

Series: Occasional Papers

Author(s): Peter Doyle , and Carlo Cottarelli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 August 1999

ISBN: 9781557757975

Keywords: inflation, monetary fund, moderate inflation, central bank, inflation stabilization

By the end of 1992, major results in stabilizing inflation had been achieved only in the Central and Eastern European countries: inflation had dropped below 60 percent in the Czech Republic, Poland, and Slov...

III Disinflation, Output, and the Current Account Balance

III Disinflation, Output, and the Current Account Balance »

Source: Disinflation in Transition : 1993-97

Series: Occasional Papers

Author(s): Peter Doyle , and Carlo Cottarelli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 August 1999

ISBN: 9781557757975

Keywords: inflation, monetary fund, moderate inflation, central bank, inflation stabilization

Disinflation occurred while output was collapsing, and was often followed by large deteriorations in the external current account balance. This section discusses the links between these developments....

IV Inflation Inertia, Credibility, and Disinflation

IV Inflation Inertia, Credibility, and Disinflation »

Source: Disinflation in Transition : 1993-97

Series: Occasional Papers

Author(s): Peter Doyle , and Carlo Cottarelli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 August 1999

ISBN: 9781557757975

Keywords: inflation, monetary fund, moderate inflation, central bank, inflation stabilization

The speed of disinflation and the apparent resilience of output in that context are remarkable features of transition economies' disinflation experience, and they are evident in the stabilizations of cases o...

V Persistent Moderate Inflation

V Persistent Moderate Inflation »

Source: Disinflation in Transition : 1993-97

Series: Occasional Papers

Author(s): Peter Doyle , and Carlo Cottarelli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 August 1999

ISBN: 9781557757975

Keywords: inflation, monetary fund, moderate inflation, central bank, inflation stabilization

Having stabilized inflation rapidly and credibly, a number of advanced transition countries appear to have got stuck with moderate inflation in the 10–30 percent range (see Table 1, Section II, and Figure 4)...

VI Conclusions

VI Conclusions »

Source: Disinflation in Transition : 1993-97

Series: Occasional Papers

Author(s): Peter Doyle , and Carlo Cottarelli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 August 1999

ISBN: 9781557757975

Keywords: inflation, monetary fund, moderate inflation, central bank, inflation stabilization

The reduction in inflation since the early 1990s right across the transition area is remarkable, particularly given the chaotic conditions at the outset. Inflationary pressures that had long been suppressed...

I Introduction

I Introduction »

Source: IMF Conditionality : Experience Under Stand-By and Extended Arrangements, Part II: Background Papers

Series: Occasional Papers

Author(s): Adam Bennett , Louis Dicks-Mireaux , Miguel Savastano , María Carkovic S. , Mauro Mecagni , Susan Schadler , and James John

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 September 1995

ISBN: 9781557755001

Keywords: wage, inflation, private saving, interest rates, real interest rates

The IMF staff periodically carries out reviews of adjustment programs supported by IMF financial resources with the broad aim of evaluating the appropriateness of policies and the progress made toward sustai...