Price Liberalization in Russia: Behavior of Prices, Household Incomes, and Consumption During the First Year
Occasional Papers, March 15, 1993
Source details
- Canonical URL
- Price Liberalization in Russia: Behavior of Prices, Household Incomes, and Consumption During the First Year
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Bibliographic details
- Authors: Steven T Phillips, Vincent Koen
- Published: March 15, 1993
- Series: Occasional Papers
- DOI: https://doi.org/10.5089/9781557752956.084
Scope and focus
- Documents and analyzes the behavior of prices, income, consumption, and savings before and after the January 1992 price liberalization.
- Emphasis on developments during 1992.
- Focus on households more than on enterprises.
- Makes comparisons with recent experience in Central and Eastern Europe.
- Considers evidence on shortages and income distribution.
Key substantive themes and analytic emphasis
- Price liberalization chronology: Prices in the Russian Federation were decontrolled in several steps since early 1991, after decades of near fixity.
- Household outcomes examined: real wages, consumption patterns, saving rate, and income distribution effects following liberalization.
- Price dynamics analyzed: behavior of consumer prices (Moscow CPI implied by keywords), producer prices, and instances of price jumps and overshoot.
- Shortages and market adjustments: considers evidence on shortages concurrent with liberalization and their implications for consumption and welfare.
- Comparative perspective: places Russian developments in context by comparing with Central and Eastern Europe experience.
Research deliverables and metadata
- Authors: Steven T Phillips, Vincent Koen
- Date: March 15, 1993
- Pages: 58
- Series: Occasional Paper No. 1993/004
- Issue: 004
- Volume: 1993
- DOI: https://doi.org/10.5089/9781557752956.084
- Stock No: S104EA0000000
- ISBN: 9781557752956
- ISSN: 0251-6365
International Monetary Fund — Price Liberalization in Russia: Behavior of Prices, Household Incomes, and Consumption During the First Year