Wage and Price Control Policies in Socialist Transitional Economies
This paper reveals the important micro role of the price-wage control policies at the early stage of the liberalization in the "real- adjustment" of the transitional economy. It demonstrates that, with labor immobile at the initial stage of the liberalization, a strict control on the price of the non-tradables and the wage rate could minimize the fall in employment and production in the contracting manufacturing sector.
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|Date of creation:||1996|
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