It has been shown that higher levels of subjective well-being lead to greater work productivity, better physical health and enhanced social skills. Because of these positive externalities, policymakers across the world should be interested in attracting and retaining happy and life-satisfied...

Identification of the entrepreneur's economic function has engaged economistsfor more than 200 years. In this paper we address the issue of entrepreneurship intwo distinct ways: a) as it has historically developed within the field of economicsand b) as it develops in the transitional context. In...

The rapid journey from central planning to EU (euro area) membership stress-tested the social learning processes of the Former Transition Economies (FTEs). The desire for a higher standard of living, to be anchored to the West, and to enter the EU, spurred major reform waves and led to the very...

Many of the EU accession countries have announced that they will not only try to enter the EU as quickly as possible but also to adopt the euro at an early date. This is justified by the effort to avoid the danger of financial instability in the period prior to euro-introduction. However, by...

This paper examines the sources of fluctuations in inflation and output in two leading transitioneconomy candidates for admission to the European Union (EU), Poland and Hungary. Using a rational expectations, dynamic open economy aggregate supply- aggregate demand model, we consider real oil...

This paper examines the ending of moderate rates of inflation in three transition economies, the Czech Republic, Hungary and Poland at the end of 1998. We argue that the institutions for the conduct of monetary policy in these countries were relatively weak and that monetary policy was...

The recent EU enlargements into Central and Eastern Europe and increased labor mobility within the Union provide a unique opportunity to evaluate the labor market effects of emigration. Outmigration has contributed to higher wages for stayers, as well as to lower unemployment in the source...

Identification of the entrepreneur's economic function has engaged economistsfor more than 200 years. In this paper we address the issue of entrepreneurship intwo distinct ways: a) as it has historically developed within the field of economicsand b) as it develops in the transitional context. In...