Measures of Shortage and Monetary Overhang in the Polish Economy.
This paper attempts to cast light on the debate about the existence and size of a monetary overhang in household money balances in command economies. Four measures of shortage or price deformation are constructed for the Polish economy and used to test for the existence of 'shortage' money balances in Poland 1965-89. The approach involves estimating relationships for household money balances 1965-93, a period that spans both central planning and the post-1990 period of liberalized prices. The...Expand abstract
- Review of Economics and Statistics
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