Transition 2 (1)

Wirtschaft und Gesellschaft, 2023

1991

The authors compare the implementation of two apparently similar stabilization programs by two reforming socialist countries, launched two weeks apart (Dec. 1989 in Yugoslavia and Jan. 1990 in Poland). They investigate possible differences underlying the apparently similar programs that may account for better initial performance of Yugoslavia's program (a sharper reduction of inflation with smaller losses in output). The authors

The goal of the paper is to verify whether the National Bank of Poland (NBP) follows pure inflation targeting. The contemporaneous and forward looking, numerous Taylor rules estimated with the OLS and GMM methods provided weak evidence of any significant importance attached by NBP to output stabilization in the reaction function. The strong focus of NBP on its primary target has led to a satisfactory performance of the central bank in stabilizing the real economy. This suggests the basic conclusion that pure inflation targeters may perform equally fine in stabilizing the real economy as countries which officially attach importance to output stabilization.

2002

Inflation in Central and East European countries varied considerably over the transition phase, and econometric relationships between prices, money, wages and exchange rates are said to have been unstable during this period. In order to shed some light on the issue, this paper analyses some empirical models of the inflation process in the three earliest east European transition economies: the Czech Republic, Hungary and Poland. Since the end of the 1980s these economies have experienced high rates of inflation, although significant disinflation measures were introduced during the mid-nineties to enhance these countries’ chances of joining the EU, and they succeeded in getting inflation under control without high costs in terms of lost output. Given this, the determinants of inflation need to be empirically analysed not only in order to understand the disinflation measures, but also to assess the possible effects of future pressure on prices. Price stabilisation is an essential compl...

The World Bank eBooks, 1999

Economic Modelling, 2000

2001

Inflation in Central and East European countries varied considerably over the transition phase, and econometric relationships between prices, money, wages and exchange rates are said to have been unstable during this period. In order to shed some ...

Economic Systems, 2003

SSRN Electronic Journal

The article aims at determining the inflation influence between Poland and selected EU member states. Although for some time the general inflation level in those countries was definitely controllable, the problem seems to be returning. That is why in this article, using the model of Vector AutoRegression (VAR) and Granger causality test, we are attempting to determine inflation influences on Poland. The study confirmed the impact of the selected countries on Polish inflation, expressed the general HICP index. However, in the case of Germany, the method has not proved the existence of such interactions. For this reason, it is made an attempt to clarify the reasons for non-compliance findings with data showing Germany as a Polish main trading partner for more than two decades. The authors try to show that lack of influence can be seen in the excessive generality of the main HICP index and predict that the chosen method confirm the effect of foreign trade indices in the HICP.