We estimate educational production functions for seven Eastern European transition countries, using student-level TIMSS data for lower secondary education. The results show substantial effects of student background on educational performance and a much lower impact of resources and the...

Panel estimates based on 19 transition economies suggests that some central banks may aim at comparatively high inflation rates mainly to make up for, and to perhaps exploit, lagging internal and external liberalization in their economies. Out-of-sample forecasts, based on expected developments...