Series: IMF Working Papers
Author(s): Shoukang Lin
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 August 1992
Keywords: Centrally planned economies, Economic models, Price controls, wage, black market, wages, inflation, money supply
During the transition from a centrally planned economy to a market economy, many countries seem to have experienced some degree of macroeconomic instability. This paper attempts to provide a theoretical explanation...