Wage Controls: the Bulgarian Experience in 1991/1992
AbstractThe income policy with its key element, the wage regulation, is among the most important instruments in the stabilization programmes of most Eastern European countries. The sustaining of a relatively low inflation level and of profit as a revenue source in state enterprises are the two basic criteria for assessing the income policy efficiency. The overall assessment of wage regulation in Bulgaria in 1991-1992 indicates that the decapitalization of enterprise and the demand-pull inflation are obvious. The analysis indicates also that the instruments on the wage bill growth in state enterprises are efficient, while the instruments for indirect control cannot fulfill their function. However, as long as the state enterprises dominate in the economy, the balance of direct and indirect means of control over the value-added distribution presupposes a careful choice of instruments.
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Bibliographic InfoPaper provided by Agency for Economic Analysis and Forecasting in its series Working paper series with number 21993en.
Length: 14 pages
Date of creation: Apr 1993
Date of revision:
wage; income policy; wage regulation; prices;
Find related papers by JEL classification:
- J30 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - General
- J38 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Public Policy
- E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
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