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Disinflation in Transition: 1993-97

Author

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  • Mr. Peter Doyle
  • Mr. Carlo Cottarelli

Abstract

The latest in a series of papers published by the International Monetary Fund on economies in transition examines the experience of disinflation in Central and Eastern Europe, the Baltics, Russia, and other countries of the former Soviet Union between 1993 and 1997. The paper reviews the economic policies underlying the dramatic drop in inflation during those years as well as other variables that facilitated the disinflation and notes that the adjustment of fiscal fundamentals as the driving force behind the disinflation, while nominal anchoring arrangements played a less prominent role. This was contrary to developments in countries, for example, in Latin America, that had experienced high inflation for a long period of time.

Suggested Citation

  • Mr. Peter Doyle & Mr. Carlo Cottarelli, 1999. "Disinflation in Transition: 1993-97," IMF Occasional Papers 1999/009, International Monetary Fund.
    • Handle: RePEc:imf:imfops:1999/009
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    Citations

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    Cited by:

    1. Sandor Valkovszky & Janos Vincze, 2001. "On price level stability, real interest rates and core inflation," BIS Papers chapters, in: Bank for International Settlements (ed.), Modelling aspects of the inflation process and the monetary transmission mechanism in emerging market countries, volume 8, pages 151-174, Bank for International Settlements.
    2. Hertrich Markus, 2016. "The Costs of Implementing a Unilateral One-Sided Exchange Rate Target Zone," Review of Economics, De Gruyter, vol. 67(1), pages 91-120, May.
    3. Dvorsky, Sandra, 2000. "Measuring central bank independence in selected transition countries and the disinflation process," BOFIT Discussion Papers 13/2000, Bank of Finland, Institute for Economies in Transition.
    4. repec:zbw:bofitp:2000_013 is not listed on IDEAS
    5. Kim, Byung-Yeon & Pirttila, Jukka, 2004. "Money, barter, and inflation in Russia," Journal of Comparative Economics, Elsevier, vol. 32(2), pages 297-314, June.

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