{
  "title": "Inflation Stabilization and Economic Transformation in Poland: The First Year",
  "publication": "IMF Working Papers, July 1, 1991",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2016/12/30/inflation-stabilization-and-economic-transformation-in-poland-the-first-year-949",
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  "summary": "This paper reviews the experience of 1990, the first year of Poland’s program of stabilization and reform. The background is described, including previous reform efforts and the crisis of the late 1980s.",
  "sections": [
    {
      "heading": "Background and scope",
      "content": "- Reviews the experience of 1990, the first year of Poland’s program of stabilization and reform.\n- Describes prior reform efforts and the crisis of the late 1980s.\n- Subjects covered: Credit, Exchange rates, Foreign exchange, Inflation, Labor, Money, Prices, Real wages, Wages."
    },
    {
      "heading": "Elements of the stabilization and reform program",
      "content": "- Fiscal adjustment.\n- Wage controls.\n- The possibility of an initial liquidity overhang.\n- The exchange rate anchor.\n- Structural reforms."
    },
    {
      "heading": "Assessment and analysis",
      "content": "- The paper assesses the initial results of the 1990 program.\n- Alternative explanations of the decline in output are considered."
    },
    {
      "heading": "Keywords and thematic focus",
      "content": "- balance of payments, Credit, Eastern Europe, exchange rate, Exchange rates, foreign currency, free market, Inflation, loss-making enterprise, market economy, price level, Real wages, retail price index, socialist economy, Wages, WP.\n\n---\n\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/30/inflation-stabilization-and-economic-transformation-in-poland-the-first-year-949"
    }
  ],
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    "Authors: Timothy D. Lane",
    "Published: July 1, 1991",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781451849103.001",
    "Reviews the experience of 1990, the first year of Poland’s program of stabilization and reform.",
    "Describes prior reform efforts and the crisis of the late 1980s.",
    "Subjects covered: Credit, Exchange rates, Foreign exchange, Inflation, Labor, Money, Prices, Real wages, Wages.",
    "Fiscal adjustment.",
    "Wage controls.",
    "The possibility of an initial liquidity overhang.",
    "The exchange rate anchor.",
    "Structural reforms.",
    "The paper assesses the initial results of the 1990 program.",
    "Alternative explanations of the decline in output are considered.",
    "balance of payments, Credit, Eastern Europe, exchange rate, Exchange rates, foreign currency, free market, Inflation, loss-making enterprise, market economy, price level, Real wages, retail price index, socialist economy, Wages, WP."
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}