Wage controls have been an important element of several of the stabilization programs recently introduced in reforming socialist economies. In some cases, the controls have been placed on each state enterprise’s total wage bill, rather than on the wage rate paid. Such an incomes policy would...

This paper discusses migration and remittances trends, and calculates the natural (or benchmark) level of dollarization in Caucasus, Central Asia and others in the region. This natural level of dollarization is conceptually linked to the currency allocation in a portfolio of deposits to maximize...

The short answer: The size of the Russian State has not increased much in the last few years, but its economic footprint remains significant. Concretely, the state's size increased from about 32 percent of GDP in 2012 to 33 percent in 2016, not far from the EBRD's estimate of 35 percent for...