This paper reviews labor market performance in Georgia, and examines the link between labor market outcomes and poverty. At over 15 percent, the unemployment rate in the country is high by European standards. Georgia faces three main labor market issues: (a) underutilization of labor resources,...

"The author presents evidence that balance sheet effects are critical determinants of both the likelihood of a crisis and of income losses following a crisis. She tests the validity of "insurance" and "liquidity" models of currency crisis. Both models predict that the occurrence of a balance of...