Changes in military expenditure as a share of gross domestic product (MIL/GDP) and of total expenditure (MIL/EX) during IMF-supported programs are examined for two subsamples, broadly divided according to fiscal tightening and fiscal accommodation. Under fiscal tightening, the evidence suggests...

Following price and exchange rate liberalization, domestic consumer prices in Russia moved closer to market levels. This paper quantifies the magnitude of the associated relative price changes. It also shows that relative price variability has been positively correlated with inflation. It is...