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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1991/06/30
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Documento de trabalho sobre pesquisa de políticas
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WPS702
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1
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1
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2010/07/01
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Should price reform proceed gradually or in a "big bang?"
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supply response
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