01874cas a2200265 a 4500 AALejournalIMF000298 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451930061 1018-5941 BD-DhAAL BD-DhAAL Coorey, Sharmini. Disinflation in Transition Economies : The Role of Relative Price Adjustment / Sharmini Coorey, Mauro Mecagni, Erik Offerdal. Washington, D.C. : International Monetary Fund, 1996. 1 online resource (98 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students In light of the persistence of moderate inflation in many transition economies, this paper analyzes whether inflation resulted from insufficiently tight financial policies and wage pressures or from the protracted adjustment of relative prices. Using a new database for 21 countries, the effect of relative price variability on inflation is estimated within a framework controlling for nominal and real shocks. Money and wage growth were the most important determinants of inflation; relative price variability had a sizable effect at high inflation during initial liberalization and a small effect at moderate inflation. Cost recovery may contribute to variability, particularly in the advanced stages of the transition. Mode of access: Internet Mecagni, Mauro. Offerdal, Erik. IMF Working Papers; Working Paper ; No. 1996/138 Full text available on IMF http://elibrary.imf.org/view/journals/001/1996/138/001.1996.issue-138-en.xml IMF e-Library