Stabilizing the Soviet Economy

William Nordhaus

No 982, Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University

Abstract: The proposals in our policy memorandum on economic stabilization -- a restrictive monetary policy and a fiscal policy that eliminates the government deficit -- are shaped by our view that the Soviet Union today faces a mounting economic crisis. As we emphasized in our discussion in the policy memorandum, problems include issues of inefficient economic structures, distorted prices, large macroeconomic imbalances, divided government, and lack of popular support for steps to stabilize and restructure the economy.

Keywords: Government spending; budget deficit; Soviet Union (search for similar items in EconPapers)
JEL-codes: E61 E63 P21 P27 (search for similar items in EconPapers)
Pages: 60 pages
Date: 1991-06
Note: CFP 802.
References: Add references at CitEc
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Published in Merton J. Peck and Thomas J. Richardson, eds., What Is to Be Done?, 1991, pp. 83-115

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