Price Liberalization in Russia: The Early Record

IMF Working Papers, November 1, 1992

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Price Liberalization in Russia: The Early Record

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Bibliographic details

• Authors: Vincent Koen, Steven T Phillips
• Published: November 1, 1992
• Series: IMF Working Papers
• DOI: https://doi.org/10.5089/9781451851564.001

Summary and Scope

• Authors: Vincent Koen, Steven T Phillips
• Publication date: November 1, 1992
• Series: IMF Working Papers, Working Paper No. 1992/092
• Issue: 092
• Volume: 1992
• Pages: 79
• DOI: https://doi.org/10.5089/9781451851564.001
• ISBN: 9781451851564
• ISSN: 1018-5941
• Core focus: Analysis of price behavior in Russia before and after the January 1992 price liberalization, with emphasis on developments in the first half of 1992; associated movements of wages, overall consumer incomes, and expenditures; comparisons with recent experience in Eastern Europe; and evidence on shortages, saving, and income distribution.

Key findings on price and income behavior

• Prices in Russia were decontrolled in several steps since early 1991, following decades of near-fixity.
• The paper analyzes price behavior both before and after the January 1992 price liberalization, concentrating on the first half of 1992.
• Associated movements of wages and overall consumer incomes and expenditures are examined in relation to the price liberalization.

Comparative analysis

• Comparisons are made between Russia’s experience and recent experience in Eastern Europe.

Evidence reviewed

• Shortages
• Saving
• Income distribution

Subject tags and keywords (as provided)

• 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

IMF Working Paper: "Price Liberalization in Russia: The Early Record", Vincent Koen and Steven T Phillips, November 1, 1992, Working Paper No. 1992/092.