Search for other papers by Mr. James Morsink in
Current site
Google Scholar
Abstract
Despite the general move to reliance on market mechanisms in Central Europe in 1990 and 1991, wage determination remained under official control. Wage controls were part of the 1990 standby arrangements with Hungary, Poland, and Yugoslavia, the 1991 stand-by arrangements with Bulgaria, Czechoslovakia, and Romania, and the 1991 extended arrangements with Hungary and Poland. The arrangements with Poland and Yugoslavia included quarterly ceilings on wages as performance criteria, and the implementation of wage controls was a prior action in the arrangements with Bulgaria and Romania. Though wage controls have been either eliminated or suspended in Hungary, Poland, and the Slovak Republic, they remain in place in Bulgaria and Romania, and after a brief interlude were reimposed in the Czech Republic.
International Monetary Fund Copyright © 2010-2025. All Rights Reserved.