This article estimates the relationship between the provision of public infrastructure and private output in sixteen sectors in Mexico. The sector-specific cost functions depend on wages, the cost of capital, and the nominal values of the stocks of three types of infrastructure: electricity,...

We construct a simple model that tests for repressed inflation by estimating a "true" rate of inflation that explains behavior of observed money demand. We estimate the model using quarterly data for Czechoslovakia and Poland. Although our results should be viewed as preliminary, given the...

In centrally planned economies, domestic prices do not respond flexibly to market forces, so economic disequilibria - including repressed inflation - persist. The authors assess the extent of repressed inflation in Czechoslovakia, Poland, and Romania between 1980 and 1990. First, they develop a...

This paper uses an intertemporal, disequilibrium framework to analyze the rapid increase in personal savings that has taken place in China since 1979. A theoretical model of savings behavior under rationing is developed, and a specification of a "virtual" price index is derived. The virtual...