Download or read book Prices and Wages in Transition Economies written by Edward P. Lazear and published by Hoover Press. This book was released on 1991 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Changes in the Wage Structure During Economic Transition in Central and Eastern Europe written by Jan J. Rutkowski and published by World Bank Publications. This book was released on 1996-01-01 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: World Bank Technical Paper No. 336. Presents the results of consultative surveys undertaken in 36 rural and urban communities across Nigeria. The study examines the effectiveness and accountability of local institutions in local decisionmaking and participation, as well as some common limitations such as the narrowness of membership and goals and their limited technical and managerial capacities.

Download or read book Labor Market Institutions and Unemployment Dynamics in Transition Economies written by Ms.Zuzana Brixiova and published by International Monetary Fund. This book was released on 1997-10-01 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies interactions between labor market institutions and unemployment dynamics in transition economies. It presents a dynamic matching model in which state sector firms endogenously shed labor and private job creation takes time. Two main conclusions arises. First, higher unemployment benefits increase steady-state unemployment, and, during the transition, they reduce the fall in real wages and speed up closure of state enterprises. Second, higher minimum wages can theoretically speed up the elimination of state sector jobs without affecting steady-state unemployment. These results are broadly consistent with existing evidence on the dynamics of unemployment and real wages in transition economies.

Download or read book Education and Earnings in a Transition Economy written by Peter R. Moock and published by World Bank Publications. This book was released on 1998 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: May 1998 One study shows that as Vietnam liberalizes its labor market, private rates of return to primary and higher education are already relatively high-and could be higher yet with greater cost recovery and lower costs (a more efficient system). The transition from a centrally planned to a market economy is likely to have a strong impact on the labor market, on relative earnings, and on returns to education. Major economic reforms in Vietnam since 1986 (the policy known as Doi Moi) have included a number of measures to liberalize the labor market. It is too soon to assess the full impact of these reforms, but Moock, Patrinos, and Venkataraman analyze the returns to education, on the basis of earnings in 1992-93 (collected in the first Vietnam Living Standards Survey). This represents one of the first countrywide analyses of the monetary benefits of schooling in Vietnam at a time when the labor market was in transition. On average, the estimated rates of returns are still relatively low, which is to be expected, since salary reforms were not introduced until 1993. Average private rates of return to primary education (13 percent) and university education (11 percent) are higher than those to secondary and vocational education (only 4 to 5 percent). Returns to higher education are slightly higher for women (12 percent) than for men (10 percent). Evidence from other transition economies suggests that returns are likely to increase as reforms in the labor market take full effect. The results support this hypothesis: Returns for younger Vietnamese workers (14 percent) are considerably higher than for older workers (only 4 percent). Implications for policymaking: * It is important to monitor future earnings and trends in the labor market, as updates of this analysis could provide more robust estimates of the transition's effects on earnings and returns to education. * At a time when the Vietnamese government is reassessing its pricing policy, the fact that private rates of return to higher education are relatively high suggests the potential for greater cost recovery. * Efforts to improve efficiency in secondary and higher education could increase the rate of return by lowering costs. This paper-a joint product of the East Asia and Pacific, Country Department I, Human Resources Operations Division, and Human Development Network, Education Team-is part of a larger effort in the Bank to analyze the economic benefits of schooling in transition economies. The authors may be contacted at [email protected] or [email protected].

Download or read book The Role of Labor Market Rigidities During the Transition written by Thierry Pujol and published by International Monetary Fund. This book was released on 1996-07 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 rigid sectoral real wages do not adjust to offset sectoral price changes, and firms that benefit from the price shock engage in monopolistic behavior. In Poland, empirical evidence suggests that relative wage rigidity contributed to lower employment and output, but there is no strong evidence that competition was important.

Download or read book Economic Restructuring Unemployment and Growth in a Transition Economy written by Mr.Bankim Chadha and published by International Monetary Fund. This book was released on 1993-03-01 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper develops a model of the process of reallocation of labor from the state sector to the private sector. When growth is exogenously determined, we show that in the initial stages of transition unemployment will rise over time. After a critical stage in the transition process, restructuring is accompanied by a decline in unemployment. When growth is endogenously determined, and human capital is acquired by learning-by-doing, we show that whether restructuring eventually occurs is determined by the level of human capital in the private sector and the rate of unemployment. The effects of various shocks and government policies in affecting the costs, speed, and eventual outcome of restructuring are analyzed.

Download or read book Equilibrium Exchange Rates in Transition Economies written by Lionel Halpern and published by International Monetary Fund. This book was released on 1996-11-01 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: A stylized fact of the transition process is an early profound exchange rate depreciation followed by continuing real appreciation. Absent historical reference points, it is difficult to judge whether the real appreciation is threatening competitiveness. This paper interprets the stylized facts and offers estimates of the equilibrium real exchange rate based on an international comparison of dollar wages and on a study of the dynamics of real exchange rates in several transition economies. The results suggest that the process of real appreciation is a combination of a return to equilibrium following the early overshooting and equilibrium appreciation.

Download or read book Inflation and Stabilization in Transition Economies written by Ms.Ratna Sahay and published by International Monetary Fund. This book was released on 1995 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: A simple model is developed to understand inflationary pressures and stabilization in nonmarket economies. In light of the model, the paper reviews the inflation and stabilization experiences of several transition economies in Eastern Europe and the former Soviet Union. These experiences are then compared to those of high inflation market economies. The paper concludes that, despite significant differences in the economic structure and institutional framework, the inflation and stabilization experiences in transition and market economies are similar in many respects. In particular, monetary accommodation and lack of fiscal discipline are critical in sustaining inflation, and exchange rate-based anchors seem more successful than money anchors in bringing down inflation. On the other hand, wage policies appear to be more critical in reigning inflation in transition economies than in market economies.

Download or read book Wage and Price Control Policies in Socialist Transitional Economies written by Mohsen Fardmanesh and published by . This book was released on 1996 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Inflation Targeting Debate written by Ben S. Bernanke and published by University of Chicago Press. This book was released on 2007-11-01 with total page 469 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past fifteen years, a significant number of industrialized and middle-income countries have adopted inflation targeting as a framework for monetary policymaking. As the name suggests, in such inflation-targeting regimes, the central bank is responsible for achieving a publicly announced target for the inflation rate. While the objective of controlling inflation enjoys wide support among both academic experts and policymakers, and while the countries that have followed this model have generally experienced good macroeconomic outcomes, many important questions about inflation targeting remain. In Inflation Targeting, a distinguished group of contributors explores the many underexamined dimensions of inflation targeting—its potential, its successes, and its limitations—from both a theoretical and an empirical standpoint, and for both developed and emerging economies. The volume opens with a discussion of the optimal formulation of inflation-targeting policy and continues with a debate about the desirability of such a model for the United States. The concluding chapters discuss the special problems of inflation targeting in emerging markets, including the Czech Republic, Poland, and Hungary.

Download or read book The Cost of Reform written by John F. Jones and published by Nova Science Publishers. This book was released on 2000 with total page 346 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is about the social impact of reform in the transitional economies of Europe, Asia, and Africa. Whatever the advantages of adopting a market orientation, and there are many, the countries which have taken this road have had a high price to pay. If one were to ask a Siberian miner or a Ukranian woman selling vegetables in a village market whether the switch from socialism to capitalism was worth the rewards, the question would likely evoke complaints about months of unpaid wages or persistent poverty. The disappearance of the iron rice bowl in China draws praise from the neoclassic economist, looking on from the outside, but for the displaced worker going from city to city in search of employment, the reaction will not be so enthusiastic. In the move from central planning to a market economy, there have been winners and losers. The winners are those in a position to use the changing economic circumstances to their advantage, and those having access to the goods and services of the market. But there are also, among the poor and vulnerable groups, consistent losers in the shuffling of opportunities, rewards, and costs. The problems of people caught in economic reform are acute, whether the emerging economies are shaped by sudden revolution from within as in Eastern Europe and Mongolia, or by international pressure from outside -- frequently at the urging of the World Bank and the International Monetary Fund (IMF) -- as in some African countries, or by the gradualism of socialist market systems like China, Vietnam or Laos. The social consequences of transition are significant, and they form the principal concern and focus of this volume. Its contributors, both authors andeditors, recognize globalization and the technological revolution already in place, and acknowledge the necessity for national economies to take advantage of the new freedoms and opportunities which the twenty first century heralds. But, while endorsing the efforts of countries to liberalize, to build their markets, and share the benefits of a world economy, the book's various authors are primarily concerned with the socioeconomic consequences of transition on the lives of people. The country case studies they present examine that impact.

Download or read book Changes in the Wage Structure During Economic Transition in Central and Eastern Europe written by Jan J. Rutkowski and published by World Bank Group. This book was released on 1996 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Economics of Transition written by Hüsnü Kızılyallı and published by Ashgate Publishing. This book was released on 1998 with total page 616 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this volume a new forecasting and planning methodology is developed for transforming a socialist, closed and/or mixed economy to a free-market economy. The method assures macroeconomic equilibrium and interalia determines equilibrating (foreign) exchange, wages, rates and so on. Whereas the swith to a free-market system (based on international prices) is immediate, other reforms and restructuring can be made gradual, taking into account political, economic and social constraints. The methodology makes use of existing structures and capital stock during transition, as against complete destruction brought about under big bang approaches. The method gives a good estimate of effects of every reform measure taken, which implies superiority over other forecasting techniques.

Download or read book Disinflation in Transition Economies written by Sharmini Coorey and published by . This book was released on 2006 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt: In light of the persistence of moderate inflation in many transition economies, this paper analyzes whether inflation resulted from insufficiently tight financial policies and wage pressures or from the protracted adjustment of relative prices. Using a new database for 21 countries, the effect of relative price variability on inflation is estimated within a framework controlling for nominal and real shocks. Money and wage growth were the most important determinants of inflation; relative price variability had a sizable effect at high inflation during initial liberalization and a small effect at moderate inflation. Cost recovery may contribute to variability, particularly in the advanced stages of the transition.

Download or read book The Economic and Fiscal Consequences of Immigration written by National Academies of Sciences, Engineering, and Medicine and published by National Academies Press. This book was released on 2017-07-13 with total page 643 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Economic and Fiscal Consequences of Immigration finds that the long-term impact of immigration on the wages and employment of native-born workers overall is very small, and that any negative impacts are most likely to be found for prior immigrants or native-born high school dropouts. First-generation immigrants are more costly to governments than are the native-born, but the second generation are among the strongest fiscal and economic contributors in the U.S. This report concludes that immigration has an overall positive impact on long-run economic growth in the U.S. More than 40 million people living in the United States were born in other countries, and almost an equal number have at least one foreign-born parent. Together, the first generation (foreign-born) and second generation (children of the foreign-born) comprise almost one in four Americans. It comes as little surprise, then, that many U.S. residents view immigration as a major policy issue facing the nation. Not only does immigration affect the environment in which everyone lives, learns, and works, but it also interacts with nearly every policy area of concern, from jobs and the economy, education, and health care, to federal, state, and local government budgets. The changing patterns of immigration and the evolving consequences for American society, institutions, and the economy continue to fuel public policy debate that plays out at the national, state, and local levels. The Economic and Fiscal Consequences of Immigration assesses the impact of dynamic immigration processes on economic and fiscal outcomes for the United States, a major destination of world population movements. This report will be a fundamental resource for policy makers and law makers at the federal, state, and local levels but extends to the general public, nongovernmental organizations, the business community, educational institutions, and the research community.

Download or read book Returns to Education in the Economic Transition written by Luca Flabbi and published by . This book was released on 2007 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the assertion that returns to schooling increase as an economy transitions to a market environment. This claim has been difficult to assess as existing empirical evidence covers only a few countries over short time periods. A number of studies find that returns to education increased from the "pre-transition" period to the "early transition" period. It is not clear what has happened to the skills premium through the late 1990s, or the period thereafter. The authors use data that are comparable across countries and over time to estimate returns to schooling in eight transition economies (Bulgaria, Czech Republic, Hungary, Latvia, Poland, Russia, Slovak Republic, and Slovenia) from the early transition period up to 2002. In the case of Hungary, they capture the transition process more fully, beginning in the late 1980s. Compared to the existing literature, they implement a more systematic analysis and perform more comprehensive robustness checks on the estimated returns, although at best they offer only an incomplete solution to the problem of endogeneity. The authors find that the evidence of a rising trend in returns to schooling over the transition period is generally weak, except in Hungary and Russia where there have been sustained and substantial increases in returns to schooling. On average, the estimated returns in the sample are comparable to advanced economy averages. There are, however, significant differences in returns across countries and these differentials have remained roughly constant over the past 15 years. They speculate on the likely institutional and structural factors underpinning these results, including incomplete transition and significant heterogeneity and offsetting developments in returns to schooling within countries.

Download or read book Income Inequality and Poverty During the Transition from Planned to Market Economy written by Branko Milanovi? and published by World Bank Publications. This book was released on 1998 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: World Bank Technical Paper No. 394. Joint Forest Management (JFM) has emerged as an important intervention in the management of Indias forest resources. This report sets out an analytical method for examining the costs and benefits of JFM arrangements. Two pilot case studies in which the method was used demonstrate interesting outcomes regarding incentives for various groups to participate. The main objective of this study is to develop a better understanding of the incentives for communities to participate in JFM.