Based on a two-country model it is scrutinized how the structure of the unemployment benefit system affects the consequences of idiosyncratic labor market shocks on real wages and unemployment in other countries. International spillover effects are caused by changes in world real income. The...

The duality between a production function and the cost function generated by it implies that a Solovian ‘growth accounting’ measure of productivity increase, as referred to the industry, has an equivalent dual measure, based on what may be called ‘price accounting’. It is argued in this...

The nineteenth-century economic commentators did not possess a formal measure of the rate at which productivity was increasing during the industrial take-off. Yet they did develop an intuitive method based on the comparative change in long-period prices and wages. This paper reviews the...

During the 1990s, all of the European transition economies (TE) experienced a major recession and suffered from the explosion of income inequality. However, distribution of income between labor and capital differed greatly from one group of post-communist countries to another. The paper...

This paper reviews economic developments in Lithuania during 1993–96. Economic growth resumed in 1994 and gained further momentum in 1995; real GDP increased by an estimated 3 percent in 1995. Growth in 1995 was driven by the industrial sector, while agriculture performed poorly. The...