Price Liberalization in Russia: Behavior of Prices, Household Incomes, and Consumption During the First Year
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Prices in the Russian Federation have been decontrolled in several steps since early 1991, after decades of near fixity. This paper documents and analyzes the behavior of prices, income, consumption, and savings before and after the January 1992 price liberalization, with emphasis on developments during 1992, and with focus on households more than on enterprises. Comparisons are made with recent experience in Central and Eastern Europe, along with consideration of evidence on shortages and income distribution.
Steven Phillips
STEVEN PHILLIPS, MD, is a renowned, Yale-trained physician and researcher who lectures internationally. He regularly appears in the media as an expert on Lyme and other chronic infections. In private practice since 1996, he has treated over 20,000 patients from nearly twenty countries. His practice is located in Wilton, Connecticut.
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