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|z 9781451854923
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|a Lissovolik, Bogdan.
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|a Determinants of Inflation in a Transition Economy :
|b The Case of Ukraine /
|c Bogdan Lissovolik.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2003.
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|a 1 online resource (36 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a This paper examines determinants of inflation in Ukraine during 1993-2002 in a cointegrating framework. Two basic theoretical models-a markup and a money market model-are tested. While broad money is cointegrated with the CPI for the whole sample and for early subsamples, the cointegration ceases to be statistically significant between 1996-2002, in part because of strong remonetization. The mark-up model offers a more consistent and well-fitting overall framework for 1996-2002 data, pointing inter alia to a greater role of administered prices in the CPI within a fairly mainstream inflation process. The "long-term" monetary transmission mechanism operates through the exchange rate and wages, but broad money clearly enters short-term inflation determinants. Prudent macroeconomic policies, grain harvests, and administrative decisions explain the sharp decline of inflation over 2000-2002.
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|a Mode of access: Internet
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|a IMF Working Papers; Working Paper ;
|v No. 2003/126
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2003/126/001.2003.issue-126-en.xml
|z IMF e-Library
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