01931cas a2200277 a 4500 AALejournalIMF000144 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451847185 1018-5941 BD-DhAAL BD-DhAAL Lugaresi, Sergio. Pensions, Price Shocks, and Macroeconomic Stability in Transition Economies : Illustrations From Belarus / Sergio Lugaresi, Ehtisham Ahmad, Jean-Luc Schneider, Alex Mourmouras. Washington, D.C. : International Monetary Fund, 1994. 1 online resource (30 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students In many countries of the former Soviet Union, pensioners form a large and vulnerable group of the population, with pensions fixed in nominal terms. Attempts to 'protect' this group have included a revaluation of benefits for retirees and the introduction of indexation arrangements based on recent wage and price growth. In this paper, lagged indexation arrangements are shown to have large destabilizing effects that can potentially jeopardize the macroeconomic adjustment effort, particularly as inflation begins to decelerate. Some long-term problems relating to the aging of the population and associated policies are also discussed. Illustrative examples from Belarus are presented. Mode of access: Internet Ahmad, Ehtisham. Mourmouras, Alex. Schneider, Jean-Luc. IMF Working Papers; Working Paper ; No. 1994/052 Full text available on IMF http://elibrary.imf.org/view/journals/001/1994/052/001.1994.issue-052-en.xml IMF e-Library