Dynamics of Price Regulation
In: The Rand journal of economics, Band 31, Heft 4, S. 744
ISSN: 1756-2171
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In: The Rand journal of economics, Band 31, Heft 4, S. 744
ISSN: 1756-2171
In: NBER Working Paper No. w23449
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In: Russian Economy in 2016. Trends and Outlooks. 2017. Mosow. IEP, issue 38, pp. 286-307
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Working paper
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In: Journal of economic dynamics & control, Band 29, Heft 4, S. 801-822
ISSN: 0165-1889
In: EUI working papers
In: ECO 2000/22
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Working paper
In: New dimensions in networks series
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In: The Economic Journal, Band 100, Heft 402, S. 882
In: Papers on economics & evolution 0001
In: Mehdi Nemati and Saghaian, Sayed. 2018. "Dynamics of Price Adjustment in Qualitatively Differentiated U.S. Markets: The Case of Organic and Conventional Apples." The Journal of Agribusiness, Forthcoming
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Working paper
In: Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 24/2012
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In: European research studies, Band XXIII, Heft 2, S. 281-307
ISSN: 1108-2976
The long road from capitalism to capitalism the Eastern European economies have made has been paved with many economic problems, but the transition from a command economy into a market economy is likely to become a bumpy ride as well. Apart from the major real economic reforms that have to take place, combined with virtual turnaround of the political structure, several countries aiming to reform face a monetary problem as well. Due to persistent state budget deficits, financed by the printing press, a so called monetary overhang threatens the reform process. Monetary overhang is here defined as the excess of money supply over demand at the current price level and at world market interest rates. The consequences of the monetary overhang under a planning system are obvious: the fixity of prices prevents the real money supply from falling to its equilibrium level, and the situation of repressed inflation translates into long queues in front of shops, forced savings, and, if not checked, into a flourishing black market and corruption. The official exchange rate is overvalued, but import demand is checked by rationing of foreign exchange.
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