The Standard of Living

Jan Adam
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Jan Adam: University of Calgary

Chapter 8 in Social Costs of Transformation to a Market Economy in Post-Socialist Countries, 1999, pp 104-125 from Palgrave Macmillan

Abstract: Abstract The applied transformation strategy aimed at bringing down demand in order to achieve internal and external market equilibrium. As a result of this strategy, output declined and unemployment came about, and with it also a decline in the standard of living1 and an increase in poverty. The consequences of the transformation for the standard of living came as no surprise. All that was surprising was the extent of the decline.

Keywords: Utility Rate; Real Wage; Real Income; Private Consumption; Wage Growth (search for similar items in EconPapers)
Date: 1999
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-50087-7_8

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DOI: 10.1057/9780230500877_8

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