Should price reform proceed gradually or in a "big bang?" (English)

Should countries such as Poland or the USSR move toward more flexible prices gradually or in a "big bang?" Why is it that governments committed to eventual price flexibility so often seem to be unable to let go of "temporary" controls? Why, after price increases early in a program of price controls, does output often rise at the same time that shortages seem to increase? The author argues that intertemporal speculation, hoarding, and the political...

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Author

Van Wijnbergen,Sweder;
Document Date
1991/06/30
Document Type
Policy Research Working Paper
Report Number
WPS702
Volume No
1
Total Volume(s)
1
Country
Europe and Central Asia, CIS,
Region
Europe and Central Asia,
Disclosure Date
2010/07/01
Doc Name
Should price reform proceed gradually or in a "big bang?"
Keywords
supply response

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Citation

Van Wijnbergen,Sweder.

Should price reform proceed gradually or in a "big bang?" (English). Policy, Research, and External Affairs working papers ; no. WPS 702. Country Operations Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/128881468742459670

Should price reform proceed gradually or in a "big bang?" (English)

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