Application of Market Anti-inflation Plans in the Transition to a Market Economy
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.
Volume (Year): 19 (1993)
Issue (Month): 3 (Summer)
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- Lerner, Abba & Colander, David, 1982. "Anti-Inflation Incentives," Kyklos, Wiley Blackwell, vol. 35(1), pages 39-52.
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