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Démonétisation en Russie. Un arbitrage favorable au maintien de l'emploi

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  • Sophie Brana
  • Mathilde Maurel

Abstract

The increase in non-monetary payments in Russia is the output of both a tight monetary policy and the persistence of the soft budget constraint. The State, by allowing fiscal arrears and in-kind payments, and the enterprises, by using wage arrears as a way of accommodating the budget constraint, make a short term arbitrage which favours the level of employment and further delay in restructuring. Unemployment is positively correlated in the long run with fiscal and wage arrears, but in the short run, any increase in the latter has a positive impact on the fluctuation of employment. Classification JEL : E5 P2

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Bibliographic Info

Article provided by Presses de Sciences-Po in its journal Revue économique.

Volume (Year): 52 (2001)
Issue (Month): 4 ()
Pages: 841-859

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Handle: RePEc:cai:recosp:reco_524_0841

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Web page: http://www.cairn.info/revue-economique.htm

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Cited by:
  1. Akhmed Akhmedov & Ekaterina Zhuravskaya, 2004. "Opportunistic Political Cycles: Test in A Young Democracy Setting," The Quarterly Journal of Economics, MIT Press, vol. 119(4), pages 1301-1338, November.
  2. Catherine Locatelli, 2002. "La faisabilité de la libéralisation de l'industrie gazière russe," Post-Print halshs-00177826, HAL.
  3. Catherine Locatelli & Dominique Finon, 2003. "Les limites à l'introduction des institutions de marché dans un secteur de rente," Post-Print halshs-00177824, HAL.
  4. Koen Schoors & Konstantin Sonin, 2005. "Passive Creditors," Working Papers w0015, Center for Economic and Financial Research (CEFIR).
  5. Catherine Locatelli & Dominique Finon, 2004. "L'échec de l'introduction d'institutions de marché dans une économie en transition : les limites du consensus de Washington dans un secteur de rente," Post-Print halshs-00001306, HAL.

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