were driven by fears of a cyclical downturn and by the sterling depreciation following the referendum. We also find …

Human capital can depreciate if skills are unused. But estimating human capital depreciation is challenging, as worker … estimate a skill depreciation rate of 4.3% and experience returns of 6.8% …

between democratic quality and human stature. The results indicate that the transition to democracy increased average male …

economic convergence may push up inflation rates in transition economies. Cyclical effects and regulated prices are found to be … exchange rate plays a prominent (but declining) role in transition economies. …

The transition paths from plan to market have varied markedly across countries. Central and Eastern European and the … firms at an earlier stage of transition, underscoring the importance of reforms. The role of the state sector as an employer … during transition rises in countries where reforming institutions is particularly costly. …