The Role of Labor Market Rigidities During the Transition : Lessons From Poland

Lessons From Poland

The Role of Labor Market Rigidities During the Transition : Lessons From Poland
The transition to a market economy has been analyzed primarily from a stabilization prospective. To complement that approach, we focus on a pure relative price shock and subsequent price adjustments. A model of monopolistic competition with costly labor adjustment indicates that relative price shocks can induce overall output decline because... READ MORE...

Publication date: July 1996
ISBN 9781451849967
$15.00

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