Output Changes and Inflationary Bias in Transition
Posted: 1 Mar 2001
Mismeasurement of inflation is likely to be more severe in a transition economy than in a more stable environment. Reasonable estimates of the size of the inflationary bias in the Czech Republic suggest that conventionally reported declines in real output and living standards during the transition may be a statistical artifact rather than a real phenomenon.
JEL Classification: C8, E3, P2
Suggested Citation: Suggested Citation