Czech Republic: Selected Issues
May 22, 1998
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This Selected Issues paper examines recent developments in inflation and its key determinants in the Czech Republic, with particular focus on the role of wages. A simple analytical framework is presented that relates inflation to wages, import prices, and money, and the interaction of inflation with these variables is then examined empirically in the context of a vector autoregression model. The findings confirm the critical influence of wages, exchange rate changes, and money growth. The paper also analyzes developments in the public finance.
Subject: Banking, Credit, External debt, Inflation, Money, Personal income tax, Prices, Revenue administration, Taxes
Keywords: Central and Eastern Europe, CNB bill, CR, Credit, current account deficit, debt service, Eastern Europe, economic activity, Europe, import price, Inflation, interest rate, ISCR, koruna depreciation, percent of GDP, Personal income tax, price, private sector, Southeast Asia, Western Europe
Pages:
158
Volume:
1998
DOI:
Issue:
036
Series:
Country Report No. 1998/036
Stock No:
1CZEEA0011998
ISBN:
9781451810011
ISSN:
1934-7685
