This paper studies the structural impact of wage and price control policies in socialist transitional economies using a two-sector three-factor small open economy model. It illustrates the results quantitatively via simulation exercises. At the earlier stage of the transition when labor is...

Since gaining political independence in 1975, Papua New Guinea has always aspired to economic development. Throughout the subsequent years, it identified shaping and implementing an appropriate wage policy as one of the most practical policies to facilitate an economic environment conducive to...