The authors of this outstanding scholarly work analyze the dynamics of disinflation in transition economies in Central and Eastern Europe. The volume covers all the key factors of this process: changes in money supply and money demand; exchange rate policy; currency crisis; fiscal policy; legal status of central banks; monetary policy strategy; changes in relative prices and changes in nominal and real wages. The book contains 13 chapters related to various aspects of disinflation and covering different sets of transition countries depending on their relevance to the analyzed topic and data availability.
- Front cover
- Front matter
- Title page
- Copyright page
- TABLE OF CONTENTS
- List of Figures
- List of Tables and Appendices
- About the Authors
- Foreword (Simon Johnson)
- Introduction (Marek Dabrowski)
- 1. Disinflation Strategies and Their Effectiveness in Transition Economies (Marek Dabrowski)
- 2. Monetary Expansion and Its Influence on Inflation Performance in Transition Economies (Rafal Antczak)
- 3. Money Demand and Monetization in Transition Economies (Marek Jarocinski)
- 4. The Influence of Exchange-Rate Stability on Inflation (Malgorzata Antczak and Urban Gorski)
- 5. The Inflationary Consequences of the Devaluation Crises in Russia and the Ukraine: First Observations (Marek Dabrowski, Urban Gorski, and Marek Jarocinski)
- 6. Disinflation Policy, Capital Inflow, and the Current-Account Balance (Krzysztof Rybinski and Mateusz Szczurek)
- 7. Modeling the Real Exchange Rate in Transition: The Cases of Poland and Romania (Maryla Maliszewska)
- 8. Fiscal Policy and Disinflation in TransitionEconomies (Malgorzata Markiewicz)
- 9. Central-Bank Independence and Its Impacton Inflation in Transition Economies (Wojciech Maliszewski)
- 10. Relative Price Adjustment in the Czech Republic,Hungary, and Poland: A Comparison of the Size and Impact of Inflation (Przemyslaw Wozniak)
- 11. The Wage-Price Spiral in Transition Economies (Mateusz Walewski)
- 12. Monetary-Policy Targeting in the Central European Transition Economies(Lucjan T. Orlowski)
- 13. Prospects for a Future Disinflation Policy in Poland (Witold M. Orlowski)
- Index
- Back cover
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