This paper emphasizes the fiscal underpinnings of the inflationary process and those particular dynamics when a dual price system is present. In particular, it explores the links between price controls and decontrols and the government budget, mainly through the flow of subsidies to either consumers or producers. A clear conclusion is that without consistency in macroeconomic policy, price liberalization may simply exacerbate imbalances and ultimately...
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详细
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1990/12/31
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政策研究报告
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WPS555
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1
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1
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2010/07/01
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The macroeconomics of price reform in socialist countries : a dynamic framework
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controlled price