Barter, credit and welfare

Jose Noguera and Susan Linz

The Economics of Transition, 2006, vol. 14, issue 4, 719-745

Abstract: 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 markets by switching to barter, the risk they face diminishes, allowing for a higher level of production.

Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:bla:etrans:v:14:y:2006:i:4:p:719-745

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