Naslov (eng)

Hyperinflation and stabilization in FR Yugoslavia : 1992-1994

Autor

Bogetić, Željko
Dragutinović, Diana
Petrović, Pavle

Opis (eng)

Abstract: This paper contributes to the literature on hyperinflation and stabilizations by analyzing the great Yugoslav hyperinflation and stabilization during the period 1992 to 1994. The paper makes three contributions. First, it provides updated and more accurate estimates of key economic variables on economic activity, public finances, and seigniorage revenues during hyperinflation based on most recent and updated data. Second, it identifies and analyzes salient features, causes, transmission mechanisms, and monetary consequences of the extreme Yugoslav hyperinflation in the period 1992-1994. It discusses what we call the fundamental equations of the Yugoslav hyperinflation and their implications for inflation expectations and subsequent stabilization. And third, it analyzes the implementation, achievements, and challenges of the currency reform and stabilization program that ended hyperinflation, highlighting the roles of the currency board, currency reform, and of the architect of the program, Dragoslav Avramović, the then governor of the Central Bank of FR Yugoslavia.

Jezik

engleski

Datum

2022

Licenca

Ovo delo je licencirano pod uslovima licence
Creative Commons CC BY 4.0 - Creative Commons Autorstvo 4.0 International License.

http://creativecommons.org/licenses/by/4.0/legalcode

Predmet

Keywords: Yugoslav hyperinflation; Stylized facts; Causes and dynamics; Currency reform; Stabilization program

Deo kolekcije (1)

o:28218

Ekonomski fakultet