Open AccessInflation in the czech republic in the mid-nineties (a comparison of alternative explanations)
Author(s) -
Martin Čihák,
Kamil Janáček
Publication year - 1996
Publication title -
prague economic papers
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.233
H-Index - 17
eISSN - 2336-730X
pISSN - 1210-0455
DOI - 10.18267/j.pep.112
Subject(s) - czech , inflation (cosmology) , economics , macroeconomics , productivity , stock (firearms) , interpretation (philosophy) , keynesian economics , classical economics , economy , geography , philosophy , linguistics , physics , archaeology , theoretical physics
The aim of the present study is, firstly, to organize existing theoretical approaches to the explanation of inflation in the Czech Republic. Secondly to investigate to what extent the rate of inflation in the Czech Republic was determined by the growth of the money stock and to what extent by the development of wages and productivity of labor. Chapter 1 gives a general description of inflation in the Czech Republic. Chapter 2 offers a list of its existing theoretical explanations. Chapter 3 contains a brief summary of the previous empirical research. Chapters 4, 5 and 6 contain our empirical model, its interpretation, and recommendations for economic policy and for further research.