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Europe > Latvia, Republic of

You are looking at 1 - 3 of 3 items for :

  • Type: Journal Issue x
  • Money supply x
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Cover IMF Working Papers
Capital Inflows in the Baltic Countries, Russia, and Other Countries of the Former Soviet Union: Monetary and Prudential Issues
Mr. Alain Ize
Significant capital inflows were observed during the first half of 1995 in a number of FSU countries. This paper reviews the recent experience of those countries with significant inflows, examines policy responses in view of the current macroeconomic and institutional environment, discusses the use of monetary and prudential instruments to sterilize or discourage inflows, and reviews operational considerations for conducting sterilization operations.
Keywords:
WP; FSU; market; bank; monetary policy; cost; FSU country; nominal exchange rate; market liquidity; sterilization instrument; financial situation; Sterilization; Capital inflows; Inflation; Reserve requirements; Monetary base; Baltics
Cover Policy Experiences and Issues in the Baltics, Russia, and Other Countries of the Former Soviet Union
Policy Experiences and Issues in the Baltics, Russia, and Other Countries of the Former Soviet Union
Mr. Daniel Citrin
and
Ashok Lahiri

Abstract

This papers reviews the common challenges and key issues in the transition process, including the decline in output and determinants of future growth; the behavior of inflation and velocity and implications for stabilization policy; interenterprise arrears; fixed versus flexible exchange rates in stabilization; external financial assistance; and the political economy of macro stabilization, Russia and the IMF.

Keywords:
OP; country; enterprise; government; right; enterprise arrears; exchange rate peg; arrears problem; rate of inflation; financial support; Inflation; Arrears; Monetary base; Exchange rates; Value-added tax; Baltics; Eastern Europe; Central Asia; Central and Eastern Europe
Cover IMF Working Papers
Inflation and Stabilization in Transition Economies: A Comparison with Market Economies
Mr. Carlos A. Végh Gramont
and
Ms. Ratna Sahay
A simple model is developed to understand inflationary pressures and stabilization in nonmarket economies. In light of the model, the paper reviews the inflation and stabilization experiences of several transition economies in Eastern Europe and the former Soviet Union. These experiences are then compared to those of high inflation market economies. The paper concludes that, despite significant differences in the economic structure and institutional framework, the inflation and stabilization experiences in transition and market economies are similar in many respects. In particular, monetary accommodation and lack of fiscal discipline are critical in sustaining inflation, and exchange rate-based anchors seem more successful than money anchors in bringing down inflation. On the other hand, wage policies appear to be more critical in reigning inflation in transition economies than in market economies.
Keywords:
WP; exchange rate; money supply; price level; transition economy; free market; price liberalization; enterprise sector; Inflation; Wages; Monetary base; Wage policy; Nominal anchors; Eastern Europe; Baltics