Publication

The paper intends to give a comparative picture on the disinflation strategies carried out by transition countries and their results related mainly to the speed and sustainability of disinflation. The authors attempt to answer the question why the pace of disinflation in Poland has been much slower that in some other countries. They argue that policy cannot be blamed alone, as fiscal policy was not especially bad. The unstable, inconsequent and accommodative monetary policy is to blame as well.