Putting the Pieces Together

Olivier Blanchard

in The Economics of Post-Communist Transition

Published in print July 1998 | ISBN: 9780198293996
Published online November 2003 | e-ISBN: 9780191595998 | DOI:

Series: Clarendon Lectures in Economics

 Putting the Pieces Together

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Chapter 4 puts the pieces together. Here, I develop an analytical model of transition that incorporates what I see as the central elements of transition, the reallocation from old to new activities, the restructuring of firms, and the interactions with unemployment. I then use this framework to discuss a number of policy issues, from the role of labour market policies to the design of privatization, the role of fiscal policy, and the dynamics of support for reform.

Keywords: collapse; convergence; fiscal policy; labour market; privatization; reallocation; reform; restructuring; transition; unemployment

Chapter.  11294 words.  Illustrated.

Subjects: Economic Systems

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