Price - wage dynamics and the transmission of inflation in socialist economies : empirical models for Hungary and Poland (anglais)

The authors of this paper set up a simple inflation model to analyze the transmission and short-run dynamics of inflation in partially reformed socialist economies. The model has features derived from market economies with few producers and sticky prices. It also tries to capture some attributes of socialist economies, including chronic excess demand in goods markets. Most of the empirical analysis focuses on the period after 1982 when market-related...
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