Barter, credit and welfare
This paper develops a model to investigate the welfare implications of barter in Russia and other transition economies during the 1990s. We argue that barter is a welfare-improving phenomenon that acts as a defence mechanism against monetary instability. When firms react to tighter credit markets by switching to barter, the risk they face diminishes, allowing for a higher level of production. Copyright (c) 2006 The Authors Journal compilation (c) 2006 The European Bank for Reconstruction and Development..
Year of publication: |
2006
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Authors: | Noguera, José ; Linz, Susan J. |
Published in: |
The Economics of Transition. - European Bank for Reconstruction and Development (EBRD). - Vol. 14.2006, 4, p. 719-745
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Publisher: |
European Bank for Reconstruction and Development (EBRD) |
Saved in:
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