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Application of Market Anti-inflation Plans in the Transition to a Market Economy

Author

Listed:
  • Kenneth J. Koford

    (University of Delaware
    Bard College)

  • Jeffrey B. Miller

    (University of Delaware)

  • David C. Colander

    (Middlebury College)

Abstract

How can the former socialist countries' transition to a market economy be made less painful and more effective? We propose the use of incentive policies to stabilize prices and output. This would reduce former planned economies' tendency for output to fall and prices to rise as firms and workers take advantage of their market power. The policy allows firms individual pricing freedom while giving assurance that the price level will be stable. It also can break the vicious circle of reduced aggregate output by setting fixed level of output.

Suggested Citation

  • Kenneth J. Koford & Jeffrey B. Miller & David C. Colander, 1993. "Application of Market Anti-inflation Plans in the Transition to a Market Economy," Eastern Economic Journal, Eastern Economic Association, vol. 19(3), pages 379-393, Summer.
    • Handle: RePEc:eej:eeconj:v:19:y:1993:i:3:p:379-393
    as

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    File URL: http://web.holycross.edu/RePEc/eej/Archive/Volume19/V19N3P379_393.pdf
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    References listed on IDEAS

    as
    1. Campbell,Donald E., 1987. "Resource Allocation Mechanisms," Cambridge Books, Cambridge University Press, number 9780521319904.
    2. Abba Lerner & David Colander, 1982. "Anti‐Inflation Incentives," Kyklos, Wiley Blackwell, vol. 35(1), pages 39-52, February.
    3. Granick,David, 1987. "Job Rights in the Soviet Union," Cambridge Books, Cambridge University Press, number 9780521332958.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Tihomir Enev & Kenneth Koford, 2000. "The Effect of Incomes Policies on Inflation in Bulgaria and Poland," Economic Change and Restructuring, Springer, vol. 33(3), pages 141-169, October.

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    More about this item

    Keywords

    Socialists;

    JEL classification:

    • P21 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Planning, Coordination, and Reform
    • P23 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Factor and Product Markets; Industry Studies; Population

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