Republic of Poland: Background Paper

IMF Staff Country Reports, March 19, 1996

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Republic of Poland: Background Paper

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Bibliographic details

• Published: March 19, 1996
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9781451831788.002

Summary and key findings

• This Background Paper examines sources of net international reserve inflows for Poland.
• It shows that once estimate of unrecorded border trade is included, both the current and capital accounts are in surplus.
• The paper illustrates the methods through which estimates of unrecorded trade can be obtained.
• It offers a complementary view of Poland’s inflation problem from a medium-term perspective.
• Specifically, the paper shows that relative price adjustment, combined with indexation and inertia, has been part and parcel of Polish inflation.

Methods and analytical focus

• Examination of sources of net international reserve inflows.
• Illustration of methods to estimate unrecorded border trade and incorporation of those estimates into balance of payments analysis.
• Medium-term analysis of inflation dynamics emphasizing:
  • relative price adjustment,
  • indexation,
  • inertia.

Subject coverage and keywords

• Subject: Balance of payments, Current account, Expenditure, Inflation, Labor, Pension spending, Pensions, Prices, Wages
• Keywords: Baltics, capital account inflow, Central and Eastern Europe, CR, Current account, current account transaction, Eastern Europe, exchange rate, exchange rate appreciation, Inflation, ISCR, pension, Pension spending, Pensions, rate depreciation, state pension, Wages