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The Transition in Russia: Successes (Privatization, Low Unemployment...) and Failures (Mafias, Liquidity Constraints...). A Theoretical Analysis

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  • 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.

Suggested Citation

  • Cohen, Daniel, 1995. "The Transition in Russia: Successes (Privatization, Low Unemployment...) and Failures (Mafias, Liquidity Constraints...). A Theoretical Analysis," CEPR Discussion Papers 1224, C.E.P.R. Discussion Papers.
  • Handle: RePEc:cpr:ceprdp:1224
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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 ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 5.

    More about this item

    Keywords

    Job-to-Job Mobility; Mafias; Russia; Transition;

    JEL classification:

    • P1 - Economic Systems - - Capitalist Systems
    • P2 - Economic Systems - - Socialist Systems and Transition Economies

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