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Wage controls during the transition from central planning to a market economy (الإنجليزية)

Wage controls have been integral to the stabilization programs of the formerly socialist countries of Central and Eastern Europe that are now moving toward market economies. The usual rationale for such restraints in "heterodox" stabilization efforts has been the need to break the momentum of inflationary expectations. In economies in transition the pervasive weakness of governance of state enterprises supplies an added imperative: the controls are...
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