Konings, Jozef; Walsh, Patrick Paul - LICOS Centre for Institutions and Economic Performance, … - 1998
Most post-communist economies are characterized by an initial collapse in aggregate output. Blanchard and Kremer (1997) and Roland and Verdier (1997) have recently modelled supply side distortions, disorganization in the links of production, that can lead to a short-term output contraction after...