Structural and Macroeconomic Determinants of the Output Decline in Poland 1990-91

This paper addresses two questions relating to the output decline in Poland since the initiation of market-oriented reforms at the beginning of 1990. First, to what extent is the decline in output a generalized phenomenon, rather than reflecting the short-term effects of resource reallocation in res...

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Bibliographic Details
Main Author: Ostry, Jonathan
Other Authors: Borensztein, Eduardo
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 1992
Series:IMF Working Papers
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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245 0 0 |a Structural and Macroeconomic Determinants of the Output Decline in Poland  |b 1990-91  |c Jonathan Ostry, Eduardo Borensztein 
260 |a Washington, D.C.  |b International Monetary Fund  |c 1992 
300 |a 36 pages 
651 4 |a Poland, Republic of 
653 |a Energy: Demand and Supply 
653 |a Inflation 
653 |a Real wages 
653 |a Labour; income economics 
653 |a Employment; Economic theory 
653 |a Wages, Compensation, and Labor Costs: General 
653 |a Deflation 
653 |a Industrial sector 
653 |a Industries: General 
653 |a Aggregate Labor Productivity 
653 |a Unemployment 
653 |a Economic sectors 
653 |a Aggregate Human Capital 
653 |a Labor 
653 |a Price Level 
653 |a Prices 
653 |a Macroeconomics 
653 |a Wages 
653 |a Intergenerational Income Distribution 
653 |a Energy prices 
653 |a Industrial Organization: General 
653 |a Employment 
653 |a Industries 
700 1 |a Borensztein, Eduardo 
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520 |a This paper addresses two questions relating to the output decline in Poland since the initiation of market-oriented reforms at the beginning of 1990. First, to what extent is the decline in output a generalized phenomenon, rather than reflecting the short-term effects of resource reallocation in response to the new relative price structure? Second, what have been the main macroeconomic determinants of the output decline? In response to the first question, the paper finds relatively little evidence to favor a “structural change” view of the output decline. As far as the second question is concerned, the paper finds that both supply-side and demand-side factors have played a role, depending on the specific time period being considered