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accumulated inflation adequate adopted Affairs WORKING PAPERS age population agricultural aimed Appendix average wage compressed wage CSFR's Czechoslovakia decline deregulation Developing drop efficient labor employees employment adjustment employment-output elasticity enterprises firms fundamental Government estimates growth implemented important indexation scheme industry investment July 1991 July King-Watson labor allocation labor dismissals labor force labor market policies labor mobility liberalization Macroeconomic market economy mechanism minimum wage nominal wage bill non-material sphere open unemployment payments percent p.a. period political sustainability price for unskilled private sector privatization process problem productive sector reached real wages recessionary impact reform relative prices respectively retired persons Riveros scenario short run short term social cost social impact Sub-Saharan Africa Table 1A tax per worker terms of trade thousand persons trade shock transition unemployment compensation Unemployment Estimates unemployment rate unskilled labor wage adjustment wage differentials wage increases wage indexation system wage regulations wage structure World Bank