Output Changes and Inflationary Bias in Transition

Jan Hanousek and Randall Filer

CERGE-EI Working Papers from The Center for Economic Research and Graduate Education - Economics Institute, Prague

Abstract: Mismeasurement of inflation is likely to be more severe in a transition economy than in a more stable environment. Reasonable estimates of the size of the inflationary bias in the Czech Republic suggest that conventionally reported declines in real output and living standards during the transition may be a statistical artifact rather than a real phenomenon.

Keywords: inflation; transition; bias; GDP growth (search for similar items in EconPapers)
JEL-codes: C8 E3 P2 (search for similar items in EconPapers)
Date: 2000-12
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Citations: View citations in EconPapers (35)

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Working Paper: Output Changes and Inflationary Bias in Transition (2001)
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