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First Results for Russia
出版Royal Institute of International Affairs, International Economics Programme, 1996
ISBN18620303089781862030305
URLhttp://books.google.com.hk/books?id=HygzAAAACAAJ&hl=&source=gbs_api
註釋This paper undermines the conventional view in the West that stabilization policy aggravates poverty, demonstrating in fact that the effect is precisely the reverse. This investigation of the impact of the inflation tax on the monetary assets of Russian households reveals the general effect is clearly regressive, with the wealth of the lowest income groups most severely eroded by high inflation. On the basis of recent historical experience, a modest reduction in the monthly inflation rate from 6% to 5% can be expected to result in roughly 700,000 Russians being lifted above the official poverty line.