Sustained inflation in response to price liberalization

Patrick Conway

No 1368, Policy Research Working Paper Series from The World Bank

Abstract: The author demonstrates that sustained inflation is a predictable response to price liberalization in the countries of the former Soviet Union. The author models the phenomenon in a dynamic macroeconomic framework,and demonstrates the immediate price jump followed by sustained inflation that has characterized the transitional economies of the former Soviet Union. The author supports the theoretical derivation with a simulation exercise that demonstrates the scope of sustained inflation for specific parameters.

Keywords: Markets and Market Access; Economic Theory&Research; Environmental Economics&Policies; Banks&Banking Reform; Access to Markets (search for similar items in EconPapers)
Date: 1994-10-31
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