In January 1992, Kazakstan initiated a reform program to move toward market-determined prices. The price liberalization process was characterized by large relative price shifts and an increase in the overall price level toward those observed in market economies. The paper shows how the piecemeal...

The vertiginous increases in the overall price level and dramatic swings in relative prices experienced by Kazakhstan, the Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan since the onset of the transition rendered their traditional Paasche retail price indices obsolete and called for...

The vertiginous increases in the overall price level and dramatic swings in relative prices experienced by Kazakhstan, the Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan since the onset of the transition rendered their traditional Paasche retail price indices obsolete and called for...