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The Nonmonetary Determinants of Inflation
Mr.Carlo Cottarelli
其他書名
A Panel Data Study
出版International Monetary Fund, 1998-03-01
主題Business & Economics / InflationBusiness & Economics / Banks & BankingBusiness & Economics / Foreign Exchange
ISBN14518440189781451844016
URLhttp://books.google.com.hk/books?id=1E8YEAAAQBAJ&hl=&source=gbs_api
EBookSAMPLE
註釋This paper explains inflation performance in a sample of industrial and transition economies by looking at policymakers’ incentives to inflate the economy, and the perceived costs of disinflation. It finds a significant effect of fiscal deficits on inflation, particularly (but not exclusively) in countries where the government securities market is not well developed. Other factors with significant effect on inflation include relative price changes, central bank independence, the exchange rate regime, and the degree of price liberalization; there is only limited evidence that other structural factors, such as those influencing the natural rate of unemployment, have a significant effect on inflation.