The Output-Inflation Nexus in Ukraine : Is there a Trade-Off? /
This paper examines whether expansionary credit policy can help sustain output growth in transition economies, with particular reference to Ukraine's experience since 1992. We find that, while real credit growth is indeed associated with higher output growth, an increase in the growth rate of n...
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| Format: | Journal |
| Language: | English |
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Washington, D.C. :
International Monetary Fund,
1996.
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| Series: | IMF Working Papers; Working Paper ;
No. 1996/046 |
| Online Access: | Full text available on IMF |
| Summary: | This paper examines whether expansionary credit policy can help sustain output growth in transition economies, with particular reference to Ukraine's experience since 1992. We find that, while real credit growth is indeed associated with higher output growth, an increase in the growth rate of nominal credit does not, in general equilibrium, stimulate output growth. Following a short-lived boom - caused by falling real wages - the increase in the growth rate of nominal credit leads to a decline in the level of output. |
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| Item Description: | <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required |
| Physical Description: | 1 online resource (36 pages) |
| Format: | Mode of access: Internet |
| ISSN: | 1018-5941 |
| Access: | Electronic access restricted to authorized BRAC University faculty, staff and students |