Financing the Transition of Previously Centrally Planned Economies : Macroeconomic Effectson Western Europe

Author/Editor:

Steven A. Symansky ; Leonardo Bartolini

Publication Date:

December 1, 1994

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

Under alternative assumptions on the likely developments in external financing of PCPE transition, and based on a multi-country, forward-looking model that includes a simplified PCPE block, we simulate the response of PCPEs to a transfer of capital from the industrial countries, and assess the potential implications for Western Europe over the next ten years. Real interest rates in Western Europe are likely to experience only mild upward pressure, and most macroeconomic aggregates are likely to change by substantially smaller magnitudes than typical over the business cycle.

Series:

Working Paper No. 94/157

Subject:

English

Publication Date:

December 1, 1994

ISBN/ISSN:

9781451857443/1018-5941

Stock No:

WPIEA1571994

Price:

$15.00 (Academic Rate:$15.00)

Format:

Paper

Pages:

30

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