Price Liberalization in Russia: Behavior of Prices, Household Incomes, and Consumption During the First Year
March 15, 1993
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Prices in the Russian Federation have been decontrolled in several steps since early 1991, after decades of near fixity. This paper documents and analyzes the behavior of prices, income, consumption, and savings before and after the January 1992 price liberalization, with emphasis on developments during 1992, and with focus on households more than on enterprises. Comparisons are made with recent experience in Central and Eastern Europe, along with consideration of evidence on shortages and income distribution.
Subject: Income, Inflation, Labor, National accounts, Prices, Producer prices, Real wages, Wages
Keywords: Central and Eastern Europe, Eastern Europe, food goods, Income, Inflation, liberalization, Moscow CPI, OP, price, price jump, price liberalization, price reform, prices overshoot, Producer prices, Real wages, saving rate, Wages
Pages:
58
Volume:
1993
DOI:
Issue:
004
Series:
Occasional Paper No. 1993/004
Stock No:
S104EA0000000
ISBN:
9781557752956
ISSN:
0251-6365
