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|z 9781451842241
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Isard, Peter.
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|a Resource Allocation During the Transition to a Market Economy :
|b Policy Implications of Supply Bottlenecks and Adjustment Costs /
|c Peter Isard, Joshua Aizenman.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 1993.
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|a 1 online resource (41 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a The paper discusses the case against a laissez faire approach to resource allocation and develops a model of supply bottlenecks. It argues that: (1) once budget constraints are hardened and credit markets begin to function appropriately, externalities associated with production bottlenecks and adjustment costs--other considerations aside--provide a case for subsidizing the costs of critical inputs for the state sector but not the new private sector; (2) the optimal subsidy declines as the private sector grows; and (3) the subsidy should be 'financed' by taxing wage income in the state sector, which will strengthen incentives for workers to move.
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|a Mode of access: Internet
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|a Aizenman, Joshua.
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|a IMF Working Papers; Working Paper ;
|v No. 1993/006
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/1993/006/001.1993.issue-006-en.xml
|z IMF e-Library
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