A small expectations-expanded ""Mundell-Fleming"" model is built for the European Union Accession Countries and estimated to assess the optimality of different exchange rate regimes (a peg and a float) through a simple welfare function. Floating appears as the best option for most of the...

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...