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150128 ||| eng |
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|a 9781451960662
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| 100 |
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|a Lin, Shoukang
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| 245 |
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|a A Simple Monetary Model of a Shortage Economy
|c Shoukang Lin
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 1992
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| 300 |
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|a 30 pages
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| 651 |
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4 |
|a Russian Federation
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| 653 |
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|a Industry Studies
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| 653 |
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|a Economics
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| 653 |
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|a Income
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| 653 |
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|a Budget Systems
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| 653 |
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|a Socialist Systems and Transitional Economies: Prices
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| 653 |
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|a Budgeting
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| 653 |
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|a National accounts
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| 653 |
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|a Money
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| 653 |
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|a Labor
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| 653 |
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|a Economics of specific sectors
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| 653 |
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|a Informal Economy
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| 653 |
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|a Budget
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| 653 |
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|a Population
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| 653 |
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|a Macroeconomics
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| 653 |
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|a Public financial management (PFM)
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| 653 |
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|a National Budget
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| 653 |
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|a Income economics
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| 653 |
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|a Labour
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| 653 |
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|a Socialist Systems and Transitional Economies: Factor and Product Markets
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| 653 |
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|a General Equilibrium and Disequilibrium: Other
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| 653 |
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|a Monetary economics
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| 653 |
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|a Wages, Compensation, and Labor Costs: General
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| 653 |
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|a Economics: General
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| 653 |
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|a Monetary Policy, Central Banking, and the Supply of Money and Credit: General
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| 653 |
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|a Budget planning and preparation
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| 653 |
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|a Informal sector
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| 653 |
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|a Aggregate Factor Income Distribution
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| 653 |
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|a Economic sectors
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| 653 |
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|a Money supply
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| 653 |
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|a Informal economy
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| 653 |
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|a Monetary base
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| 653 |
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|a Underground Econom
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| 653 |
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|a Wages
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| 653 |
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|a Budgeting & financial management
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| 653 |
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|a Money and Monetary Policy
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| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
0 |
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|a IMF Working Papers
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| 028 |
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|a 10.5089/9781451960662.001
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| 856 |
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|u https://elibrary.imf.org/view/journals/001/1992/069/001.1992.issue-069-en.xml?cid=819-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
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|a 330
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| 520 |
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|a During the transition from a centrally planned economy to a market economy, many countries seem to have experienced some degree of macroeconomic instability. This paper attempts to provide a theoretical explanation of this phenomenon. The paper develops a simple monetary model and shows how macroeconomic stability can be achieved in a rigid centrally planned economy, despite the inherent structural imbalances and irrational price system. On the other hand, the study shows that without hardening enterprise budget constraints, wage and price decontrol tends to destablize the economy and may lead to persistent budget deficits and inflation. The paper also provides a rigorous analysis of household savings and money demand in a shortage economy, and clarifies the somewhat confusing concept of “monetary overhang” in the literature
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