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This paper examines the inflation targeting experience in three transition countries: the Czech Republic, Poland and Hungary. While the examined countries have missed inflation targets often by a large margin, they nevertheless progressed well with disinflation. A key lesson from the experience...
Persistent link: https://www.econbiz.de/10013225557
A framework is developed for macroeconomic policy analysis in four countries of Central Europe (CE) in transition to EU membership (Czech Republic, Hungary, Poland, and Slovakia). A Multi-Annual Fiscal Adjustment Strategy (MAFAS) and a Pre-Pegging Exchange Rate Regime (PPERR) appropriate for...
Persistent link: https://www.econbiz.de/10013225816
We study the transmission of sovereign debt inflow shocks on domestic firms. We exploit episodes of large sovereign debt inflows in six emerging countries that are due to the announcements of these countries' inclusion in two major local-currency sovereign debt indexes. We show that these...
Persistent link: https://www.econbiz.de/10013289107
Transition in Central Europe is four years old. State firms which dominated the economy are struggling with market forces. A new private sector quickly emerged and has taken hold. Unemployment, which did not exist, is high and still increasing. Will this process of transition accelerate, or slow...
Persistent link: https://www.econbiz.de/10014089271
1992) are added to compare attitudes towards democracy. Two comparisons are made: between countries, and through time, to …
Persistent link: https://www.econbiz.de/10012997900
Can a democracy attract competent leaders, while attaining broad representation? Economic models suggest that free …) socioeconomic status. A broad implication of these facts is that it is possible for democracy to generate competent and socially …
Persistent link: https://www.econbiz.de/10012963759
, in the context of Hong Kong's pro-democracy movement. We elicit university students' planned participation in an upcoming …
Persistent link: https://www.econbiz.de/10012964391
We study the emergence of urban self-governance during the Commercial Revolution in the 12th- 13th century and show that municipal autonomy shaped national institutions over the subsequent centuries. We focus on England after the Norman Conquest of 1066 and build a novel comprehensive dataset of...
Persistent link: https://www.econbiz.de/10012951352
This study argues that economic vulnerability causes citizens to participate in clientelism, a phenomenon with various pernicious consequences. We employ a randomized control trial that reduced household vulnerability through a development intervention: constructing residential water cisterns in...
Persistent link: https://www.econbiz.de/10012951870
representative democracy. The basic association, however, is conditioned on the relative strength of the indigenous groups within a … Europe a positive impulse towards the development of representative democracy. It shows that contemporary regimes are shaped …
Persistent link: https://www.econbiz.de/10013022172