Notes1 When the Soviet Union was dissolved in the fall of 1991 most observers believed that the days of central planning were counted all over the world. Most of them would have been extremely surprised to hear that more than seven years later a nation organized according to Marxist economic principles and Leninist political methods […]
Consumer Prices, Money Supply and Liberalization in Post-Communist Economies
Notes1 The paper examines the behavior of consumer prices during the transition from plan to market in the countries of Central and Eastern Europe and the former Soviet Union from 1990 to 1996. It focuses on the influence of two key explanatory variables: economic liberalization and monetary growth, both across countries of the region and […]
Comments by Ernesto Hernández-Catá on “Cuba: Cooperación Internacional de Emergencia y para la Recuperación” by Castañeda and Montalván
There are many things in this paper that I agree with, particularly as regards the broad economic strategy. For example, I agree that international cooperation in Cuba’s transition should help to create the condition for private investment, both Cuban and foreign; that private foreign investment flows should exceed flows of official development assistance by a […]
Liberalization and the Behavior of Output During the Transition from Plan to Market
Notes1 Recently a number of empirical studies have begun to analyze the evolution of output during the transition from planned to market economy in the countries of Central and Eastern Europe and the former Soviet Union.2 A number of important conclusions emerge from the analysis of the reform process, some of which are illustrated in […]
Comments by Ernesto Hernández-Catá on “The Minimum Wage and Unemployment in Poland: Lessons for Cuba’s Transition” by Andrew M. Melnyk
Note[ref]The views expressed in this comment are those of the author and not necessarily those of the IMF.[/ref] This is an important paper on an important topic. The author convincingly argues, on the basis of both theory and careful empirical work, that Poland’s minimum wage scheme has contributed to that country’s high rate of unemployment […]
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