Mismeasurement of inflation is likely to be more severe in a transition economy than in a more stable environment. Reasonable estimates of the size of the inflationary bias in the Czech Republic suggest that conventionally reported declines in real output and living standards during the...

Mismeasurement of inflation is likely to be more severe in a transition economy than in a more stable environment. Comparisons of self-reported changes in economic welfare with changes in incomes suggest that official Romanian inflation measures may be overstated by between 100 and 300 percent...

An employer-based sample of over 660,000 Czech and 260,000 Slovak workers is used to estimate the benefits of education in 1995 to 1997. By 1997 education of all types had become substantially more highly rewarded in both countries than it was either under communism or in the early years of the...