Disinflation in Slovenia: Evidence from an Iterative Multisectoral Model

Jani Bekõ and Mejra Festic

Eastern European Economics, 2004, vol. 42, issue 4, 81-103

Abstract: This article employs an iterative multisectoral model underpinned by estimates of sectoral price functions to simulate six disinflation scenarios for the Slovenian economy. The model simulations show that substantial progress in disinflation can be made during 2004. However, instead of relying on a single anti-inflationary tool, stabilization of the inflation rate at around 3-4 percent per annum demands highly coordinated implementation of at least three instruments: moderate deindexation of wages, rigorous price policy in those segments of the Slovenian economy where lack of competition does not assure price stability, and a prudent monetary policy.

Date: 2004
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