Price Liberalization in Russia: The Early Record

ByVincent Koen, Steven T Phillips

November 1, 1992

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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

Prices in Russia have been decontrolled in several steps since early 1991, after decades of near-fixity. Their behavior before and after the January 1992 price liberalization is analyzed here, as are the associated movements of wages and overall consumer incomes and expenditures. The emphasis is on developments in the first half of 1992. Comparisons are made with recent experience in Eastern Europe. Evidence on shortages, saving and income distribution is also considered.

Subject: Income, Inflation, Labor, Minimum wages, National accounts, Prices, Real wages, Wages

Keywords: Eastern Europe, household income, household incomes data, Income, Inflation, liberalization measure, Minimum wages, price level, price liberalization, rate of return, Real wages, retail price index, saving rate, Wages, WP

Pages:
79
Volume:
1992
DOI:
https://doi.org/10.5089/9781451851564.001
Issue:
092
Series:
Working Paper No. 1992/092
Stock No:
WPIEA0921992
ISBN:
9781451851564
ISSN:
1018-5941

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