作者：OSBAND, K
摘要：It is not unusual for reforming socialist economies to relax wage controls without hardening budget constraints on enterprises or freeing consumer goods prices. This policy can be dangerously destabilizing. While higher wages permit workers to purchase more of some goods, they also tend to exacerbate shortages and to breed waste and corruption. Beyond a certain level, economywide wage hikes will worsen worker welfare. This is true regardless of whether deficit goods are strictly rationed, are ...
作者：FERSON, WE; HARVEY, CR
作者单位：Duke University
作者：HANSEN, LP; JAGANNATHAN, R
作者单位：National Bureau of Economic Research; Federal Reserve System - USA; University of Minnesota System; University of Minnesota Twin Cities
作者：CHALOUPKA, F
作者单位：National Bureau of Economic Research
作者：KING, RG; REBELO, S
作者单位：Universidade Catolica Portuguesa; University of Rochester; Northwestern University
作者：BARRO, RJ
作者单位：National Bureau of Economic Research
