Why is Inflation not Decreasing in the Czech Republic?
|Author:||Bc. Martin Sommer|
|Year:||1995 - summer|
|Work type:|| Bachelors
|Awards and prizes:||Karel Engliš Award|
|Abstract:||Why is inflation not decreasing in the Czech Republic?
The paper presents a political-economy analysis of the Czech monetary
policy in the mid-1990s. At the beginning of transition, the
policymakers achieved substantial credibility as a result of their
prudent anti-inflation policies. The high degree of credibility then
temporarily created an opportunity for a deliberate choice between
output and inflation. The outcome was a surprisingly high inflation of
around 10 percent and a brief surge in output.
|Downloadable:|| Bachelors Thesis - Sommer