Over the past decade or so, most Central and Eastern European countries have reformed their pension systems, significantly downsizing their public pillars and creating private pillars based on capitalization accounts. Early policy attention was focused on the accumulation phase but several...

Two sources of growth are firm learning and innovation. Using a unique panel data for 1,686 firms in six countries (Bulgaria, Hungary, Latvia, Lithuania, Romania, and Turkey), this paper applies panel data estimators and Juhn-Murphy Pierce decomposition in order to identify the effects of the...

While there is a consensus that the 2008-2009 crisis was triggered by financial market disruptions in the United States, there is little agreement on whether the transmission of the crisis and the subsequent prolonged recession are due to credit factors or to a collapse of demand for goods and...

June 1999 - Can Hungarian firms cope with competitive pressures and market forces within the European Union market (a criterion for joining)? The empirical evidence suggests that Hungary can withstand such competitive pressures without suppressing the real incomes of Hungary's citizens. Hungary...

August 1995 - Applying mechanically active OECD labor policies in Hungary, Poland, and Russia makes no sense because the economies are so different. Which labor policies are realistic there? Training able workers in scarce, needed skills; easing credit for (and thereby encouraging) the...