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A Simple Monetary Model of a Shortage Economy

A Simple Monetary Model of a Shortage Economy »

Volume/Issue: 1992/69

Series: IMF Working Papers

Author(s): Shoukang Lin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 1992

DOI: http://dx.doi.org/10.5089/9781451960662.001

ISBN: 9781451960662

Keywords: wage, black market, wages, inflation, money supply

During the transition from a centrally planned economy to a market economy, many countries seem to have experienced some degree of macroeconomic instability. This paper attempts to provide a theoretical explanation...

Uncontrolled Markets and the Inflationary Process in a Centrally Planned Economy

Uncontrolled Markets and the Inflationary Process in a Centrally Planned Economy »

Volume/Issue: 1989/59

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 July 1989

DOI: http://dx.doi.org/10.5089/9781451965599.001

ISBN: 9781451965599

Keywords: inflation, wage, inflationary gap, wage rate, wages

This paper analyzes the inflationary process in a centrally planned economy which has an uncontrolled market where prices can move more freely. The maintenance of controls over prices and rationing in the economy l...