Among the stylised facts of economic transformation in East Central Europe are the following unpleasant developments-: the reemergence of fiscal deficits, the resilliance of medium inflation, and sluggish output recovery. This paper reviews the major interpretations found in the literature,...

This paper presents error correction estimates of a simple interdependent model of the labour market using monthly data over 1990-1994 for the industrial sector in Poland and Hungary. The aim is to investigate three issues in the performance of labour markets during transition. First, is there a...

The economies of Central and Eastern Europe are undergoing a period of rapid structural change. The general pattern confirms to the J-curve anticipated by several observers at the start of transition. This paper conceptualises the J-curve as the result of a combination of two factors. First,...