Graph of the month Share of foreign value added in the exports of selected countries Opinion corner What might be the economic consequences of a potential territorial break-up of Ukraine? (by Vasily Astrov) Trade integration, vertical specialisation and employment growth in the new Member States...

Summary This study analyses the impact of knowledge assets on productivity and technical efficiency in the EU, as well as their role in the process of knowledge transfer. The analysis covers the role of the institutional and regulatory environment in affecting productivity and technical...

Financial balances of the private, foreign and public sectors long-term tendencies for the European Union (by Roman Römisch; pp. 1-6) Keywords fiscal policy, budget deficits, investments and savings, public-private balances Countries covered European Union Topics Macroeconomic Analysis and...

Export quality indicators for the transition countries (by Robert Stehrer, pp. 1-3) Countries covered Czech Republic, Hungary, Poland, Slovakia, Slovenia, Estonia, Latvia, Lithuania, Bulgaria, Romania, Croatia, China Topics International Trade and Competitiveness On the profitability of Austrian...

Euro or not? Early lessons from the crisis (by Ch. Wyplosz, pp. 1-4) Keywords euro, EU, crisis Countries covered European Union Topics Macroeconomic Analysis, Forecasts and Policy Migration from the New to the Old EU Member States country experiences (by H. Vidovic; pp. 5-14) Keywords migration,...

The report analyses recent economic developments and short- and medium-term development prospects, covering the countries of Central and Eastern Europe and Southeast Europe including Turkey, together with Russia, Ukraine, Kazakhstan and China. Separate chapters present an overview of...

In this paper we extend the agglomeration model of Ciccone (2002) to the level of industry. We then test this model using panel data for six sectors on regional level data for 27 EU member states. Our results for the aggregate economy confirm the estimates of Ciccone (2002). For our full sample...

This paper employs smooth transition models to investigate the GDP series of ten CEECs. Allowing for a transition in both trend and intercept we examine the response of GDP to reforms in CEECs. Our results indicate that in only a small of number of countries is there evidence to suggest that the...

In this paper we test the hypothesis that the sector bias of skill-biased technical change is important in explaining the rising relative wage of skilled workers in the manufacturing sector in three Central and Eastern European transition countries. The evidence for Hungary and Poland is...

For about a decade, GDP growth in Central European countries has been consistently faster than in the 'old' EU-15. As a first approximation, one can expect a growth differential of about 2 percentage points to prevail also in the future. This practical rule-of-thumb is broadly consistent with...