This paper develops a model to investigate the welfare implications of barter in Russia and other transition economies during the 1990s. We argue that barter is a welfare-improving phenomenon that acts as a defense mechanism against monetary instability. When firms react to tighter credit...

A multitude of explanations for low investment by Russian firms have been offered: high inflation, high interest rates, falling production, falling GDP, an underdeveloped banking system, a confiscatory tax regime, calls for the re-nationalization of industry, excessive regulations, and an...

Are work values a cause (Weber) or consequence (Marx) of the economic environment? The collapse of the Soviet Union at the end of 1991 provides a unique opportunity to investigate this link. Using data collected from an employee survey conducted in over 340 workplaces in Armenia, Azerbaijan and...

Do younger workers in transition economies have a different work ethic from those who were trained and employed in the former socialist economy? Is there a positive link between work ethic and earnings among workers in transition economies? We address these questions using data collected from...

More and more states have passed laws that allow individuals to use marijuana for medical purposes. There is an ongoing, heated policy debate over whether these laws have increased marijuana use among non-patients. In this paper, I address that question empirically by studying marijuana...

Eighteen states and the District of Columbia have passed laws that allow individuals to use marijuana for medical purposes. There is an ongoing heated policy debate over whether these laws have increased marijuana use among non-patients. In this paper, I address that question empirically by...

Medical marijuana laws generate significant policy debates regarding drug policy. In particular, if marijuana is a complement or a gateway drug to hard drugs, these laws would increase not only the usage of marijuana but hard drugs such as cocaine and heroin. In this paper, I empirically study...

We investigate the link between perceptions and behavior using the wage arrears phenomenon in Russia as our case study. To measure perception, we utilize assessments of ‘marketability’ -- what we call perceived demand. For behavior, we first consider the behavior of managers in the...

Labor market conditions deteriorated substantially in the1990s during Russia’s transition from plan to market, generating pervasive and prolonged economic insecurity. Our objective is to document perceptions of job insecurity among Russian workers over the course of the transition period and...