This paper reviews income distribution in developing (and transition) countries in recent decades. On average, before-tax income distribution in developing countries is less unequal than in industrial countries. However, unlike industrial countries, developing countries in general have not been...

This paper discusses the role of government expenditure policies in the decline in aggregate output in European transition economies. It is argued that there is little evidence for the hypothesis that more expansionary expenditure policies would have helped to mitigate the output decline. While...

This paper analyzes the interrelationship between distortions in a country's relative price structure and rate of inflation. The model developed in the paper is applied to the recent period of high inflation in Argentina. A monetary model is constructed in which demand for real balances is...

In this paper the authors expand their earlier model of non-oil commodity price determination (Staff Papers, Vol. 31 (March 1984), pp. 93-140). The earlier study focused on the demand-side factors underlying the fluctuation of aggregate commodity prices in the short run. The present study...