Financial Deindexation in Slovenia

Dušan Zbašnik ()
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Dušan Zbašnik: University of Maribor, Faculty of Economics and Business, Postal: Slomskov trg 15, 2000 Maribor, Slovenia, http://www.uni-mb.si/

Economia Internazionale / International Economics, 2003, vol. 56, issue 1, 137-146

Abstract: The monetary policy is one of the key factors in decreasing the price growth. The impact of a foreign-exchange transmission channel on the behaviour of the real sector is evident. The significance of an interest rate transmission channel is relatively negligible because of the widespread use of the indexation of the lending and deposit interest rates of banks as well as other financial instruments. In Slovenia, this role has been adequately performed by the base interest rate (BIR), the average of past twelve months inflation, representing the way of indexation. Country experience has shown that disinflation and deindexation efforts should go hand-in-hand to succeed.

Keywords: Monetary policy; disinflation; deindexation; nominal rates (search for similar items in EconPapers)
JEL-codes: E43 E52 (search for similar items in EconPapers)
Date: 2003
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