After almost four decades of price stability, inflation has recently approached historical highs. Initially driven by global energy and food price increases, the magnitude of the surge in inflation caught central banks and markets by surprise. Price pressures are now increasingly broadening to...

Until the start of the seventies the situation on the labour markets of the European industrial states was considered with relative optimism. The high growth rates which most of the countries had achieved seemed to be sufficient to absorb the increases in the available labour force. The author...

In order to capture the consequences of the COVID-19 pandemic on the labour market, several aspects need to be taken into account. First, containment measures put in place in member states at different times and with different levels of severity determined the interruption of several economic...

Although the idea of coordinating national employment policies goes back to the beginning of the 20th century, little progress has occurred in recent decades. The purpose of this article is to explain why such coordination is needed and how it should be accomplished.

The measures taken so far to move towards currency convertibility and combat inflation in Russia and the other CIS countries are based largely on a three-stage programme formulated by the IMF. The following article presents alternatives and compares them with the IMF concept from the point of...

Based on theory and on evidence from the Southern Cone the following paper concludes for emerging market economies (1) that fiscal reform is of utmost importance for macroeconomic reforms, (2) that credibility cannot be imported via a fixed exchange rate but has to be established by internal...

The management of the exchange rate by the Russian authorities obviously lacks both effectiveness and efficiency. "Black Tuesday" has vividly shown how vulnerable the rouble is to speculative attacks. In this article, a "classical" proposal is evoked and is discussed as an alternative to the...