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Cover Art
E-RESOURCE
Author Lissovolik, Bogdan.

Title Determinants of Inflation in a Transition Economy [electronic resource] : The Case of Ukraine / Bogdan Lissovolik.

Published Washington, D.C. : International Monetary Fund, 2003.

Copies

Location Call No. Status
 UniM INTERNET resource    AVAILABLE
Physical description 1 online resource (36 p.)
Series IMF Working Papers; Working Paper ; No. 03/126
IMF Working Papers; Working Paper ; No. 03/126
Summary This paper examines determinants of inflation in Ukraine during 1993-2002 in a cointegrating framework. Two basic theoretical models-a markup and a money market model-are tested. While broad money is cointegrated with the CPI for the whole sample and for early subsamples, the cointegration ceases to be statistically significant between 1996-2002, in part because of strong remonetization. The mark-up model offers a more consistent and well-fitting overall framework for 1996-2002 data, pointing inter alia to a greater role of administered prices in the CPI within a fairly mainstream inflation process. The "long-term" monetary transmission mechanism operates through the exchange rate and wages, but broad money clearly enters short-term inflation determinants. Prudent macroeconomic policies, grain harvests, and administrative decisions explain the sharp decline of inflation over 2000-2002.
Notes Description based on print version record.
Other author Lissovolik, Bogdan.
Subject Cointegration
High Inflation
Money Demand
Money Growth
Multiple or Simultaneous Equation Models: Time-Series Models
Price Level
ISBN 1451854927 : 15.00 USD
9781451854923
ISSN 1018-5941
Standard Number 10.5089/9781451854923.001