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Yugoslav Inflation and Money [electronic resource] Lahiri, Ashok.

Author/Creator:
Lahiri, Ashok.
Publication:
Washington, D.C. : International Monetary Fund, 1991.
Format/Description:
Government document
Book
1 online resource (46 p.)
Series:
IMF eLibrary
IMF Working Papers; Working Paper No. 91/50.
IMF Working Papers; Working Paper No. 91/50
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Local subjects:
Aggregate demand. (search)
Central bank. (search)
Demand for money. (search)
Effect of inflation. (search)
Effects of inflation. (search)
Foreign currency. (search)
Foreign exchange. (search)
High inflation. (search)
High inflation environment. (search)
Increase in interest rates. (search)
Independent monetary policy. (search)
Inflation. (search)
Inflation objective. (search)
Inflation rate. (search)
Inflation tax. (search)
Inflationary expectations. (search)
Inflationary pressure. (search)
Inflationary shock. (search)
Measure of inflation. (search)
Monetary aggregate. (search)
Monetary aggregates. (search)
Monetary authorities. (search)
Monetary control. (search)
Monetary expansion. (search)
Monetary flows. (search)
Monetary fund. (search)
Monetary funds. (search)
Monetary injections. (search)
Monetary objectives. (search)
Monetary phenomenon. (search)
Monetary policy. (search)
Monetary policy objectives. (search)
Monetary target. (search)
Monetary targeting. (search)
Monetary targets. (search)
Monetary theory. (search)
Money balances. (search)
Money demand. (search)
Money growth. (search)
Money market. (search)
Money stock. (search)
Money supply. (search)
National bank. (search)
Nominal interest rate. (search)
Nominal interest rates. (search)
Nominal rate of interest. (search)
Nominal variables. (search)
Price inflation. (search)
Printing money. (search)
Rate of inflation. (search)
Rates of inflation. (search)
Rational expectations. (search)
Real interest rates. (search)
Real money. (search)
Real rate of interest. (search)
Real value. (search)
Real wages. (search)
Reserve requirements. (search)
Retail price inflation. (search)
Wage-price. (search)
Israel. (search)
Summary:
Yugoslav inflation unfolded as a classic wage-price-exchange rate spiral through the 1970s and 1980s and exploded into hyperinflation in the last quarter of 1989. This paper examines the process of monetary accommodation of inflation, the behavior of demand for money, and the interaction between the two in Yugoslavia. The asset-liability structure of the Central Bank, together with the policy stance on exchange and interest rates, led to a significant feedback from inflation to money supply. Real money balances are found to have been cointegrated with other economic variables despite their explosive and seasonal nature, and hence in long-run equilibrium relationship as economic theory would suggest.
Notes:
Description based on print version record.
Contributor:
Lahiri, Ashok.
Other format:
Print Version:
ISBN:
1451971060:
9781451971064
ISSN:
1018-5941
Publisher Number:
10.5089/9781451971064.001
Access Restriction:
Restricted for use by site license.