Objectives: The objectives of this empirical study are: firstly, to modify and extend the 'signals approach', developed by Kaminsky/Lizondo/Reinhart (1997) as an early warning system for currency crises, secondly, to apply it to transition economies in Central and Eastern Europe, and, thirdly,...

This paper explores the conflict of real and monetary convergence during the EMU run-up of the Central and Eastern European new EU member states. Based on a Balassa-Samuelson model of productivity driven inflation, it finds a high probability of higher inflation in the new member states. It...

The IMF classifications of the Central and Eastern European exchange rate arrangements are heterogeneous. While one group of countries reports tight pegs to the euro, a second group seems to have moved toward (more) exchange rate flexibility. Based on the recent discussion about the accuracy of...

The IMF classifications of the Central and Eastern European (CEE) exchange rate arrange-ments are heterogeneous. While one group of countries reports tight pegs to the euro, a second group seems to have moved toward (more) exchange rate flexibility. Based on the recent dis- cussion about the...

Railways restructuring takes place under very different circumstances and with very different goals in Western Europe, Central and Eastern Europe, and Russia. Observed improvements in productivity associated with vertical access and vertical separation in Western Europe are not certain to be...

Este trabajo analiza la entrada y la competencia en servicios de telecomunicaciones, en los que las empresas se diferencian por sus costes hundidos y por la valoración que reciben de los consumidores. En este marco de análisis desaparece el problema de coordinación presente en la literatura...

Ideal economics? A “non-ideal” economics approach has been proposed, which considers the possibility of arrangement infringements. It gives promises for both solving fundamental problems of economic theory and creation of new directions and fields of research. The approach application in...

Arrangements (agreements, contracts, projects, etc.) are widespread economic events and are the fundamental concept of the economic theory. Infringements (breaches, modifications, changes, etc.) of arrangements are common and have a significant importance for the economic theory. For many years...

Para conocer el efecto que la apertura comercial ha tenido en la tasa de crecimiento economico de largo plazo y en el proceso de convergencia real entre los estados de Mexico, el presente estudio revisa el marco teorico y conceptual que parece mas adecaudo para esta finalidad, que no es otro que...

A perpetual scarcity of public goods/services produces distortions of an individual’s attitudes towards the cost of bureaucratic procedures: even if bureaucracy is not cumbersome, poverty induces people to perceive honesty as too expensive and to prefer illegal payments because they cannot...