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Transition in Russia (the) : sucesses (privatization, low unemployment) and failures (mafias, liquidity constraints). a theoretical analysis

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  • Cohen, Daniel
  • Cohen Daniel

Abstract

The paper analyses the transition in Russia through a theoretical model in which job-to-job mobility plays a crucial role. It shows that job-to-job mobility is a key factor preventing a discontinuous break in unemployment and insulating wages in declining sectors from aggregate disequilibria. In the case where the mafia can impose a tax on entry, it shows that a range of inefficient sectors can be kept indefinitely alive. In this case the spectrum of wages remains wide and will never reach perfect equalization as promised by laissez-faire.
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Suggested Citation

  • Cohen, Daniel & Cohen Daniel, 1995. "Transition in Russia (the) : sucesses (privatization, low unemployment) and failures (mafias, liquidity constraints). a theoretical analysis," CEPREMAP Working Papers (Couverture Orange) 9507, CEPREMAP.
    • Handle: RePEc:cpm:cepmap:9507
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    File URL: http://www.cepremap.fr/depot/couv_orange/co9507.pdf
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    Cited by:

    1. S. Fisher & R. Sahay & C. A. Vegh, 1997. "Stabilization and Growth in Transition Economies: The Early Experience," Voprosy Ekonomiki, NP Voprosy Ekonomiki, vol. 5.

    More about this item

    JEL classification:

    • P1 - Political Economy and Comparative Economic Systems - - Capitalist Economies
    • P2 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies

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