The New-Keynesian Taylor-Rule model of inflation determination with no role for money is incomplete. As Cochrane (2007a … invoked if inflation misbehaved. Thus we answer the criticisms levelled at the Taylor Rule that it has no credible mechanism …

This Paper documents and analyses gross job flows and their determinants in Ukraine using a unique dataset of more than … connection with other evidence we infer from this that Ukraine is only at the beginning of the restructuring process. The most …

Ukraine. Whether this divide was caused by purely ethnic differences or by ethnically segregated reform preferences is unknown …

employees. In the case of Ukraine, we find that public sector employees receive 24-32% less wages than their private sector … and find that the lower bound estimate of the extent of bribery in Ukraine is between 460m and 580m U.S. dollars (0 ….9-1.2% of Ukraine’s GDP in 2003). …

Soviet Republics of Russia and Ukraine. Exploiting annual manufacturing census data from 1985 to 2000, we find that Soviet … reforming Russia than in ‘gradualist’ Ukraine, as did the estimated effects of privatization and competitive pressures from …

We study the effects of Central Bank transparency on inflation and the output gap. We thus first identify a small … analytical model, which concludes that transparency affects the variability of inflation and output and not their average levels … explain however, about 50% of the variability in inflation. The relation between transparency and output volatility is less …

This paper provides a quantitative assessment of the effects of inflation through changes in the value of nominal … redistribution brought about by a moderate inflation episode. Redistribution takes the form of 'ends-against-the-middle': the middle … class gains at the cost of the rich and poor. In addition, inflation favours the young over the old, and hurts foreigners. A …