Zagler investigates the interaction between changes in the level of unemployment and changes in the economic rate of growth. It asks, both in theory and in evidence, whether a change in the growth rate of the economy will affect the level of unemployment which the economy experiences and whether...

The effect of structural reforms on growth in Europe and Central Asia is assessed by looking separately at each supply-side channel: capital, labor, and productivity, with the last estimated using the stochastic frontier approach. By controlling for the interaction with the economic cycle, the...

This report complements the recent World Bank publication, Growing United: Upgrading Europe's Convergence Machine (Bodewig, C., Ridao-Cano, C., 2018). The Growing United report highlights that, while the European Union is still the "convergence machine" that fosters an unparalleled depth and...

John. J. McCloy, President of the International Bank for Reconstruction and Development, discussed the U.S. announcement of the European Recovery Program (Marshall Plan). This ambitious plan must be economically successful. The inherent strengths of Europe give reasonable assurance of the...

The 2008 crisis marked the beginning of a lost decade for many countries - and many people - in the European Union (EU). The crises of 2008 and 2012 halted, and in some countries undid, a decade of growth and economic convergence across the EU. This report argues that the economic shocks...

The Europe and Central Asia (ECA) Education Team's vision is for education systems to empower all to reach their full potential. In line with this vision, the purpose of this guidance note is to provide recommendations and policy advice for decision-makers on potential education responses to the...

At the beginning of the twenty-first century, intergenerational relations remain a key aspect of the future development and sustainability of the European social model. In the present paper, patterns of intergenerational support and the main driving factors behind individuals' transfer behavior...

This paper analyzes the political and institutional factors which are behind the dramatic changes in distortions to agricultural incentives in the transition countries in East Asia, Central Asia, and the rest of the former Soviet Union, and in Central and Eastern Europe. The paper explains why...

Dramatic changes took place in agricultural policies in Europe in the 19th and 20th century. In the 1860s European nations agreed on a series of trade agreements which spread free trade across the continent. In the 1960s European nations concluded an international agreement which spread heavy...

The global financial crisis severely affected economies in Eastern Europe and Central Asia (ECA). Currencies depreciated across the region. Government tax revenues declined sharply leading to high budget deficits and rising levels of public debt. Tightening credit supply and deteriorating...