Abstract
Common issues emerging from the recent experience with IMF-supported programs in Hungary, Poland, Czechoslovakia, Bulgaria, and Romania are analyzed. These comprise the initial price overshooting and output collapse and the financial and structural problems associated with bad loan portfolios and sluggish implementation of privatization programs. Substantial success has been achieved in the initial microstabilization and opening-up effort. But difficulties with fiscal and monetary control may be emerging as a result of social and political pressures and unclear policy signals on the micro issues involving the structural transformation of the productive and financial systems.
Volume 39 Index
Volume 39 (1992) comprises four issues, as follows:
March, pages 1–210
June, pages 211–464
September, pages 465–740
December, pages 741–987
Authors
Agénor, Pierre-Richard, Jagdeep S, Bhandari, and Robert P. Flood. Speculative Attacks and Models of Balance of Payments Crises 357
Agénor, Pierre-Richard, and Mark P. Taylor. Testing for Credibility Effects 545
Agénor, Pierre-Richard, and Robert P. Flood. Unification of Foreign Exchange Markets 923
Aizenman, Joshua. Exchange Rate Flexibility, Volatility, and Domestic and Foreign Direct Investment 890
Arnold, Ivo J.M. The Derivation of the Liquidity Ratio in the EMS: Comment on Kremers and Lane 195
Barr, David. The Demand for Money in Europe: Comment on Kremers and Lane 718
Bayoumi, Tamim. The Effect of the ERM on Participating Economies 330
Bhandari, Jagdeep S., Pierre-Richard Agénor, and Robert P. Flood. Speculative Attacks and Models of Balance of Payments Crises 357
Blejer, Mario I., and Carlo Cottarelli. Forced Saving and Repressed Inflation in the Soviet Union, 1986–90: Some Empirical Results 256
Boote, Anthony, Assessing Eastern Europe’s Capital Needs 948
Bruno, Michael. Stabilization and Reform in Eastern Europe: A Preliminary Evaluation 741
Chadha, Bankim, Paul R. Masson, and Guy Meredith. Models of Inflation and the Costs of Disinflation 395
Cnossen, Sijbren. Key Questions in Considering a Value-Added Tax for Central and Eastern European Countries 211
Cottarelli, Carlo, and Mario I. Blejer. Forced Saving and Repressed Inflation in the Soviet Union, 1986–90: Some Empirical Results 256
DeRosa, Dean A. Increasing Export Diversification in Commodity Exporting Countries: A Theoretical Analysis 572
Dinopoulos, Elias, and Timothy D. Lane. Market Liberalization Policies in a Reforming Socialist Economy 465
Dixit, Avinash. Theory and Policy: Reply to Tanzi 967
El-Erian, Mohamed A. Restoration of Access to Voluntary Capital Market Financing: The Recent Latin American Experience 175
Faruqee, Hamid. Dynamic Capital Mobility in Pacific Basin Developing Countries: Estimation and Policy Implications 706
Flood, Robert P., Pierre-Richard Agénor, and Jagdeep S. Bhandari. Speculative Attacks and Models of Balance of Payments Crises 357
Flood, Robert P., and Pierre-Richard Agenor. Unification of Foreign Exchange Markets 923
Guidotti, Pablo E., and Carlos A. Rodriguez. Dollarization in Latin America: Gresham’s Law in Reverse 518
Guide, Anne-Marie, and Holger C. Wolf, The Causes of Real Exchange Rate Variability: A Heretic View from the Interwar Period 696
Hardy, Daniel C. Soft Budget Constraints, Firm Commitments, and the Social Safety Net 310
Hardy, Daniel C, and Ashok Kumar Lahiri. Bank Insolvency and Stabilization in Eastern Europe 778
Hoffmaister, Alexander. The Cost of Export Subsidies: Evidence from Costa Rica 148
Husain, Aasim M., and Ratna Sahay. Does Sequencing of Privatization Matter in Reforming Planned Economies? 801
Kremers, Jeroen J.M., and Timothy D. Lane. The Derivation of the Liquidity Ratio in the EMS: Reply to Arnold 203
Kremers, Jeroen J.M., and Timothy D. Lane. The Demand for Money in Europe: Reply to Barr 730
Kumar, Manmohan S. The Forecasting Accuracy of Crude Oil Futures Prices 432
Lahiri, Ashok Kumar, and Daniel C. Hardy, Bank Insolvency and Stabilization in Eastern Europe 778
Lane, Timothy D., and Jeroen J.M. Kremers. The Derivation of the Liquidity Ratio in the EMS: Reply to Arnold 203
Lane, Timothy D., and Elias Dinopoulos. Market Liberalization Policies in a Reforming Socialist Economy 465
Lane, Timothy D., and Jeroen J.M. Kremers. The Demand for Money in Europe: Reply to Barr 730
Lane, Timothy D. Household Demand for Money in Poland: Theory and Evidence 825
MacDonald, Ronald, and Mark P. Taylor. Exchange Rate Economics: A Survey 1
Masson, Paul R. Portfolio Preference Uncertainty and Gains from Policy Coordination 101
Masson, Paul R., Bankim Chadha, and Guy Meredith. Models of Inflation and the Costs of Disinflation 395
Mendoza, Enrique G. Fisherian Transmission and Efficient Arbitrage Under Partial Financial Indexation: The Case of Chile 121
Mendoza, Enrique G. The Effects of Macroeconomic Shocks in a Basic Equilibrium Framework 855
Meredith, Guy, Bankim Chadha, and Paul R. Masson. Models of Inflation and the Costs of Disinflation 395
Montiel, Peter J., and Jonathan D. Ostry. Real Exchange Rate Targeting Under Capital Controls: Can Money Provide a Nominal Anchor? 58
Osband, Kent. Index Number Biases During Price Liberalization 287
Ostry, Jonathan D., and Peter J. Montiel. Real Exchange Rate Targeting Under Capital Controls: Can Money Provide a Nominal Anchor? 58
Ostry, Jonathan D., and Carmen M. Reinhart. Private Saving and Terms of Trade Shocks: Evidence from Developing Countries 495
Reinhart, Carmen M., and Jonathan D. Ostry. Private Saving and Terms of Trade Shocks: Evidence from Developing Countries 495
Rodriguez, Carlos A., and Pablo E. Guidotti, Dollarization in Latin America: Gresham’s Law in Reverse? 518
Sahay, Ratna, and Aasim M. Husain. Does Sequencing of Privatization Matter in Reforming Planned Economies? 801
Savastano, Miguel A. Collapse of a Crawling Peg Regime in the Presence of a Government Budget Constraint 79
Scott, Louis O. The Information Content of Prices in Derivative Security Markets 596
Tanzi, Vito. Theory and Policy: A Comment on Dixit and on Current Tax Policy 957
Taylor, Mark P., and Ronald MacDonald. Exchange Rate Economics: A Survey 1
Taylor, Mark P., and Pierre-Richard Agenor. Testing for Credibility Effects 545
Végh, Carlos A. Stopping High Inflation: An Analytical Overview 626
Wolf, Holger C., and Anne-Marie Guide. The Causes of Real Exchange Rate Variability: A Heretic View from the Interwar Period 696
Titles
Assessing Eastern Europe’s Capital Needs. By Anthony Boote 948
Bank Insolvency and Stabilization in Eastern Europe. By Daniel C. Hardy and Ashok Kumar Lahiri 778
The Causes of Real Exchange Rate Variability: A Heretic View from the Interwar Period, By Anne-Marie Guide and Holger C. Wolf 696
Collapse of a Crawling Peg Regime in the Presence of a Government Budget Constraint. By Miguel A. Savastano 79
The Cost of Export Subsidies: Evidence from Costa Rica. By Alexander Hoffmaister 148
The Demand for Money in Europe: Comment on Kremers and Lane. By David Barr 718
The Demand for Money in Europe: Reply to Barr. By Jeroen J.M. Kremers and Timothy D. Lane 730
The Derivation of the Liquidity Ratio in the EMS: Comment on Kremers and Lane. By Ivo J.M. Arnold 195
The Derivation of the Liquidity Ratio in the EMS: Reply to Arnold. By Jeroen J.M. Kremers and Timothy D. Lane 203
Does Sequencing of Privatization Matter in Reforming Planned Economies? By Aasim M. Husain and Ratna Sahay 801
Doliarization in Latin America: Gresham’s Law in Reverse? By Pablo E. Guidoni and Carlos A, Rodriguez 518
Dynamic Capital Mobility in Pacific Basin Developing Countries: Estimation and Policy Implications. By Hamid Faruqee 706
The Effect of the ERM on Participating Economies. By Tamim Bayoumi 330
The Effects of Macroeconomic Shocks in a Basic Equilibrium Framework. By Enrique G. Mendoza 855
Exchange Rate Economics: A Survey. By Ronald MacDonald and Mark P. Taylor 1
Exchange Rate Flexibility, Volatility, and Domestic and Foreign Direct Investment. By Joshua Aizenman 890
Fisherian Transmission and Efficient Arbitrage Under Partial Financial Indexation: The Case of Chile. By Enrique G. Mendoza 121
Forced Saving and Repressed Inflation in the Soviet Union, 1986–90: Some Empirical Results. By Carlo Cottarelli and Mario I. Blejer.. 256
The Forecasting Accuracy of Crude Oil Futures Prices. By Manmohan S. Kumar 432
Household Demand for Money in Poland: Theory and Evidence. By Timothy D. Lane 825
Increasing Export Diversification in Commodity Exporting Countries: A Theoretical Analysis. By Dean A. DeRosa 572
Index Number Biases During Price Liberalization. By Kent Osband .... 287
The Information Content of Prices in Derivative Security Markets. By Louis O. Scott 596
Key Questions in Considering a Value-Added Tax for Central and Eastern European Countries. By Sijbren Cnossen 211
Market Liberalization Policies in a Reforming Socialist Economy. By Elias Dinopoulos and Timothy D. Lane 465
Models of Inflation and the Costs of Disinflation. By Bankim Chadha, Paul R. Masson, and Guy Meredith 395
Portfolio Preference Uncertainty and Gains from Policy Coordination. By Paul R. Masson 101
Private Saving and Terms of Trade Shocks: Evidence from Developing Countries. By Jonathan D. Ostry and Carmen M. Reinhart 495
Real Exchange Rate Targeting Under Capital Controls: Can Money Provide a Nominal Anchor? By Peter J. Montiel and Jonathan D. Ostry 58
Restoration of Access to Voluntary Capital Market Financing: The Recent Latin American Experience. By Mohamed A. El-Erian 175
Soft Budget Constraints, Firm Commitments, and the Social Safety Net. By Daniel C. Hardy 310
Speculative Attacks and Models of Balance of Payments Crises. By Pierre-Richard Agénor, Jagdeep S. Bhandari, and Robert P, Flood 357
Stabilization and Reform in Eastern Europe: A Preliminary Evaluation. By Michael Bruno 741
Stopping High Inflation: An Analytical Overview. By Carlos A. Végh .. 626
Testing for Credibility Effects. By Pierre-Richard Agenor and Mark P. Taylor 545
Theory and Policy: A Comment on Dixit and on Current Tax Policy. By Vito Tanzi 957
Theory and Policy: Reply to Tanzi. By Avinash Dixit 967
Unification of Foreign Exchange Markets. By Pierre-Richard Agénor and Robert P. Flood 923
Subjects
To facilitate electronic storage and retrieval of bibliographic data, Staff Papers has adopted the subject classification scheme of the Journal of Economic Literature (Nashville, Tennessee).
A General Economics and Teaching
A10 General The Forecasting Accuracy of Crude Oil Futures Prices. By Manmohan S. Kumar 432
C Mathematical and Quantitative Methods
C22 Time-Series Models The Cost of Export Subsidies: Evidence from Costa Rica. By Alexander Hoftmaister 148
The Forecasting Accuracy of Crude Oil Futures Prices. By Manmohan S. Kumar 432
C4 Econometric and Statistical Methods: Special Topics Testing for Credibility Effects. By Pierre-Richard Agénor and Mark P. Taylor 545
C43 Index Numbers and Aggregation Index Number Biases During Price Liberalization. By Kent Osband 287
C52 Model Evaluation and Testing The Forecasting Accuracy of Crude Oil Futures Prices. By Manmohan S. Kumar 432
C73 Stochastic and Dynamic Games Portfolio Preference Uncertainty and Gains from Policy Coordination. By Paul R. Masson 101
D Microeconomics
D12 Consumer Economics: Empirical Analysis Forced Saving and Repressed Inflation in the Soviet Union, 1986–90: Some Empirical Results. By Carlo Cottarelli and Mario I. Blejer 256
D78 Positive Analysis of Policymaking and Implementation Soft Budget Constraints, Firm Commitments, and the Social Safety Net. By Daniel C. Hardy 310
E Macroeconomics and Monetary Economics
E21 Consumption; Saving Forced Saving and Repressed Inflation in the Soviet Union, 1986–90: Some Empirical Results. By Carlo Cottarelli and Mario I. Blejer 256
Private Saving and Terms of Trade Shocks: Evidence from Developing Countries. By Jonathan D. Ostry and Carmen M. Reinhart 495
E22 Capital; Investment (Including Inventories) Assessing Eastern Europe’s Capital Needs. By Anthony Boote .. 948
E3 Prices, Business Fluctuations, and Cycles Testing for Credibility Effects. By Pierre-Richard Agénor and Mark P. Taylor 545
E31 Price Level; Inflation; Deflation Models of Inflation and the Costs of Disinflation. By Bankim Chadha, Paul R. Masson, and Guy Meredith 395
The Causes of Real Exchange Rate Variability: A Heretic View from the Interwar Period. By Anne-Marie Guide and Holger C. Wolf 696
E32 Business Fluctuations; Cycles The Effects of Macroeconomic Shocks in a Basic Equilibrium Framework. By Enrique G. Mendoza 855
E37 Forecasting and Simulation The Forecasting Accuracy of Crude Oil Futures Prices. By Manmohan S. Kumar 432
E4 Money and Interest Rates Dollarization in Latin America: Gresham’s Law in Reverse? By Pablo E. Guidotti and Carlos A. Rodriguez 518
E41 Demand for Money Forced Saving and Repressed Inflation in the Soviet Union, 1986–90: Some Empirical Results, By Carlo Cottarelli and Mario L Blejer 256
Household Demand for Money in Poland: Theory and Evidence. By Timothy D. Lane 825
E42 Monetary Standards and Regimes; Government and the Monetary System Speculative Attacks and Models of Balance of Payments Crises. By Pierre-Richard Agenor, Jagdeep S. Bhandari, and Robert P. Flood 357
E43 Determination of Interest Rates; Term Structure of Interest Rates Fisherian Transmission and Efficient Arbitrage Under Financial Indexation; The Case of Chile. By Enrique G. Mendoza 121
Dynamic Capital Mobility in Pacific Basin Developing Countries: Estimation and Policy Implications. By Hamid Faruqee 706
E44 Financial Markets and the Macroeconomy Portfolio Preference Uncertainty and Gains from Policy Coordination. By Paul R. Masson 101
Fisherian Transmission and Efficient Arbitrage Under Financial Indexation: The Case of Chile. By Enrique G. Mendoza 121
Bank Insolvency and Stabilization in Eastern Europe. By Daniel C. Hardy and Ashok Kumar Lahiri 778
E52 Monetary Policy (Targets, Instruments, and Effects) Real Exchange Rate Targeting Under Capital Controls: Can Money Provide a Nominal Anchor? By Peter J. Montiel and Jonathan D. Ostry 58
Portfolio Preference Uncertainty and Gains from Policy Coordination. By Paul R. Masson 101
Fisherian Transmission and Efficient Arbitrage Under Financial Indexation: The Case of Chile. By Enrique G. Mendoza 121
Models of Inflation and the Costs of Disinflation. By Bankim Chadha, Paul R. Masson, and Guy Meredith 395
E6 Macro economic Aspects of Public Finance, Macroeconomic Policy, and General Outlook Testing for Credibility Effects. By Pierre-Richard Agenor and Mark P. Taylor 545
E61 Policy Objectives; Policy Designs and Consistency; Policy Coordination Real Exchange Rate Targeting Under Capital Controls: Can Money Provide a Nominal Anchor? By Peter J. Montiel and Jonathan D. Ostry 58
E63 Comparative or Joint Analysis of Fiscal and Monetary or Stabilization Policy Stabilization and Reform in Eastern Europe: A Preliminary Evaluation. By Michael Bruno 741
E65 Studies of Particular Policy Episodes Stabilization and Reform in Eastern Europe: A Preliminary Evaluation. By Michael Bruno 741
F International Economics
F11 Neoclassical Models of Trade Increasing Export Diversification in Commodity Exporting Countries: A Theoretical Analysis. By Dean A. DeRosa 572
F13 Commercial Policy; Protection; Promotion; Trade Negotiations The Cost of Export Subsidies: Evidence from Costa Rica. By Alexander Hoffmaister 148
F15 Economic Integration Increasing Export Diversification in Commodity Exporting Countries: A Theoretical Analysis. By Dean A. DeRosa 572
F17 Trade Forecasting and Simulation The Cost of Export Subsidies: Evidence from Costa Rica. By Alexander Hoffmaister 148
F21 International Investment; Long-Term Capital Movements Dynamic Capital Mobility in Pacific Basin Developing Countries: Estimation and Policy Implications, By Hamid Faruqee 706
Exchange Rate Flexibility, Volatility, and Domestic and Foreign Direct Investment. By Joshua Aizenman 890
F30 International Fianance—General Exchange Rate Economics: A Survey. By Ronald MacDonald and Mark P. Taylor 1
F31 Exchange Rates; Foreign Exchange Intervention Real Exchange Rate Targeting Under Capital Controls: Can Money Provide a Nominal Anchor? By Peter J. Montiel and Jonathan D. Ostry 58
Collapse of a Crawling Peg Regime in the Presence of a Government Budget Constraint. By Miguel A. Savastano 79
Portfolio Preference Uncertainty and Gains from Policy Coordination. By Paul R. Masson 101
Speculative Attacks and Models of Balance of Payments Crises. By Pierre-Richard Agénor, Jagdeep S. Bhandari, and Robert P. Flood 357
Unification of Foreign Exchange Markets. By Pierre-Richard Agénor and Robert P. Flood 923
F32 Current Account Adjustment; Short-Term Capital Movements Private Saving and Terms of Trade Shocks: Evidence from Developing Countries. By Jonathan D. Ostry and Carmen M. Reinhart 495
F33 International Monetary Arrangements and Institutions The Effect of the ERM on Participating Economies. By Tamim Bayoumi 330
The Causes of Real Exchange Rate Variability: A Heretic View from the Interwar Period. By Anne-Marie Guide and Holger C. Wolf 696
F34 International Lending and Debt Problems Restoration of Access to Voluntary Capital Market Financing: The Recent Latin American Experience. By Mohamed A. E1-Erian 175
F36 Financial Aspects of Economic Integration The Effect of the ERM on Participating Economies. By Tamim Bayoumi 330
Increasing Export Diversification in Commodity Exporting Countries: A Theoretical Analysis. By Dean A. DeRosa 572
Exchange Rate Flexibility, Volatility, and Domestic and Foreign Direct Investment. By Joshua Aizenman 890
F4 Macroeconomic Aspects of International Trade and Finance Exchange Rate Flexibility, Volatility, and Domestic and Foreign Direct Investment. By Joshua Aizenman 890
F41 Open Economy Macroeconomics Exchange Rate Economics: A Survey. By Ronald MacDonald and Mark P. Taylor 1
Real Exchange Rate Targeting Under Capital Controls: Can Money Provide a Nominal Anchor? By Peter J. Montiel and Jonathan D. Ostry 58
Collapse of a Crawling Peg Regime in the Presence of a Government Budget Constraint. By Miguel A. Savastano 79
Speculative Attacks and Models of Balance of Payments Crises. By Pierre-Richard Agenor, Jagdeep S. Bhandari, and Robert P. Flood 357
Private Saving and Terms of Trade Shocks: Evidence from Developing Countries. By Jonathan D. Ostry and Carmen M. Reinhart 495
Dollarization in Latin America: Gresham’s Law in Reverse? By Pablo E. Guidotti and Carlos A. Rodriguez 518
Stopping High Inflation: An Analytical Overview. By Carlos A. Végh 626
Stabilization and Reform in Eastern Europe: A Preliminary Evaluation. By Michael Bruno 741
Unification of Foreign Exchange Markets. By Pierre-Richard Agénor and Robert P. Flood 923
F42 International Policy Coordination The Effect of the ERM on Participating Economies. By Tamim Bayoumi 330
G Financial Economics
G12 Asset Pricing The Information Content of Prices in Derivative Security Markets. By Louis O. Scott 596
G13 Contingent Pricing; Futures Pricing The Information Content of Prices in Derivative Security Markets. By Louis O. Scott 596
G14 Information and Market Efficiency The Information Content of Prices in Derivative Security Markets. By Louis O. Scott 596
G15 International Financial Markets Restoration of Access to Voluntary Capital Market Financing: The Recent Latin American Experience. By Mohamed A. El-Erian 175
Dynamic Capital Mobility in Pacific Basin Developing Countries: Estimation and Policy Implications. By Hamid Faruqee 706
G21 Banks; Other Depository Institutions; Mortgages Bank Insolvency and Stabilization in Eastern Europe. By Daniel C. Hardy and Ashok Kumar Lahiri 778
H Public Economies
H6 National Budget, Deficit, and Debt
H20 Taxation and Subsidies—General Key Questions in Considering a Value-Added Tax for Central and Eastern European Economies. By Sijbren Cnossen 211
Theory and Policy: A Comment on Dixit and on Current Tax Theory. By Vito Tanzi 957
H21 Efficiency; Optimal Taxation Theory and Policy: A Comment on Dixit and on Current Tax Theory. By Vito Tanzi 957
H24 Income and Other Nonbusiness Taxes Theory and Policy: A Comment on Dixit and on Current Tax Theory. By Vito Tanzi 957
H32 Fiscal Policies and Behavior of Economic Agents—Firm Soft Budget Constraints, Firm Commitments, and the Social Safety Net. By Daniel C. Hardy 310
H73 Interjurisdictional Differentials and Their Effects Key Questions in Considering a Value-Added Tax for Central and astern European Economies. By Sijbren Cnossen 211
J Labor and Demographic Economics
J65 Unemployment Insurance; Severance Pay; Plant Closings Soft Budget Constraints, Firm Commitments, and the Social Safety Net. By Daniel C. Hardy 310
L Industrial Organization
L10 Market Structure, Firm Strategy, and Market Performance—General Does Sequencing of Privatization Matter in Reforming Planned Economies? By Aasim M. Husain and Ratna Sahay 801
N Economic History
N1 Macroeconomics; Growth and Fluctuations The Effects of Macroeconomic Shocks in a Basic Equilibrium Framework. By Enrique G. Mendoza 855
N24 Financial Markets and Institutions—Europe: 1913–71 The Causes of Real Exchange Rate Variability: A Heretic View from the Interwar Period, By Anne-Marie Guide and Holger C. Wolf 696
O Economic Development, Technological Change, and Growth
O10 Economic Development—General Private Saving and Terms of Trade Shocks: Evidence from Developing Countries. By Jonathan D. Ostry and Carmen M. Reinhart 495
O11 Macro economic Analyses of Economic Development Assessing Eastern Europe’s Capital Needs. By Anthony Boote... 948
O52 Economy-Wide Country Studies—Europe Assessing Eastern Europe’s Capital Needs. By Anthony Boote,.. 948
O53 Economy-Wide Country Studies—Asia, Including Middle East Private Saving and Terms of Trade Shocks: Evidence from Developing Countries. By Jonathan D. Ostry and Carmen M. Reinhart 495
O54 Economy-Wide Country Studies—Latin America; Caribbean Restoration of Access to Voluntary Capita! Market Financing: The Recent Latin American Experience. By Mohamed A. El-Erian 175
Private Saving and Terms of Trade Shocks: Evidence from Developing Countries. By Jonathan D. Ostry and Carmen M. Reinhart 495
O55 Economy-Wide Country Studies—Africa Private Saving and Terms of Trade Shocks: Evidence from Developing Countries. By Jonathan D. Ostry and Carmen M. Reinhart 495
O57 Comparative Studies of Countries Key Questions in Considering a Value-Added Tax for Central and Eastern European Countries. By Sijbren Cnossen 211
P Economic Systems
P21 Planning and Coordination of Socialist Economies Market Liberalization Policies in a Reforming Socialist Economy. By Elias Dinopoulos and Timothy D. Lane 465
Bank Insolvency and Stabilization in Eastern Europe. By Daniel C. Hardy and Ashok Kumar Lahiri 778
Does Sequencing of Privatization Matter in Reforming Planned Economies? By Aasim M. Husain and Ratna Sahay 801
P22 Prices Forced Saving and Repressed Inflation in the Soviet Union, 1986–90: Some Empirical Results. By Carlo Cottarelli and Mario I. Blejer 256
P24 Income Measurement and Growth Index Number Biases During Price Liberalization. By Kent Osband 287
P26 Political Economy of Socialism Soft Budget Constraints, Firm Commitments, and the Social Safety Net. By Daniel C. Hardy 310
P27 Socialist Systems—Performance and Prospects Bank Insolvency and Stabilization in Eastern Europe. By Daniel C. Hardy and Ashok Kumar Lahiri 778
P31 Socialist Enterprises Market Liberalization Policies in a Reforming Socialist Economy. By Elias Dinopoulos and Timothy D. Lane 465
P33 Socialist Institutions—Foreign Trade and Investment Market Liberalization Policies in a Reforming Socialist Economy. By Elias Dinopoulos and Timothy D. Lane 465
P34 Socialist Institutions—Finance Bank Insolvency and Stabilization in Eastern Europe. By Daniel C. Hardy and Ashok Kumar Lahiri 778
Household Demand for Money in Poland: Theory and Evidence. By Timothy D. Lane 825
In statistical matter throughout this issue,
dots (…) indicate that data are not available;
a dash (—) indicates that the figure is zero or less than half the final digit shown, or that the item does not exist;
a single dot (.) indicates decimals;
a comma (,) separates thousands and millions;
“billion” means a thousand million, and “trillion” means a thousand billion;
a short dash (–) is used between years or months (for example, 1990–92 or January-October) to indicate a total of the years or months inclusive of the beginning and ending years or months;
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a colon (:) is used between a year and the number indicating a quarter within that year (for example, 1992:2);
components of tables may not add to totals shown because of rounding.