Publication
Title
The dynamic adjustment of a transition economy in the early stages of transformation
Author
Abstract
This paper develops a model of a representative transition economy, to explain the stylized facts of output declines and real exchange rate appreciation in the early stages of transformation. These facts can be explained by supply-side shocks, interest rate liberalization or a reduction in core inflation. The policy implication is that price liberalization in advance of financial liberalization and structural reform, including widespread privatization of the production process, necessarily results in some temporary loss of output. (C) 2004 Published by Elsevier Inc.
Language
English
Source (journal)
Journal of macroeconomics. - Detroit, Mich.
Publication
Detroit, Mich. : 2004
ISSN
0164-0704
Volume/pages
26:3(2004), p. 547-561
ISI
000224231000010
Full text (Publisher's DOI)
Full text (publisher's version - intranet only)
UAntwerpen
Faculty/Department
Research group
Publication type
Subject
Affiliation
Publications with a UAntwerp address
External links
Web of Science
Record
Identification
Creation 24.02.2012
Last edited 15.07.2017
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