This paper develops a model to investigate the welfare implications of barter in Russia and other transition economies during the 1990s. We argue that barter is a welfare-improving phenomenon that acts as a defence mechanism against monetary instability. When firms react to tighter credit...

Despite unanimous agreement in the existing literature that morale influences employee performance, no well-defined measure of morale exists. Our study develops a robust measure of morale and focuses on the factors that influence morale among Russian workers. Survey data were collected from...