A common feature of recent literature regarding inflation dynamics is the Calvo pricing mechanism. Using this model and aggregate series, I estimate the price change probability and the mean time between price changes in 13 transition countries. The average price change probability is much...

This book provides in-depth and innovative analysis of the minimum wage in Europe. The authors explore its role and scope within the enlarged EU, and address the question of whether there should be harmonization between the individual member states or even a common EU minimum wage. They also...