The paper analyzes the differences in managing exchange rate fluctuations in an inflation-targeting monetary framework in the case of (former) transition economies. Differences in managing the exchange rate fluctuations are identified according to the extent of managing as hard (dirty) versus...

This paper contributes to the literature on monetary policy responses in emerging economies to international financial crises. Such an issue is especially relevant for these countries insofar as they tend to be more unstable than developed countries. In addition, they suffer from larger...

The global economic crisis confronted emerging European countries with abrupt external shocks, while adjustment mechanisms differed according to exchange rate regimes. ‘Fixers’ were forced to accept internal devaluation, while ‘floaters’ used the exchange rate as a shock absorber....

<title>Abstract</title>The aim of this paper is to determine whether, and to what extent, the migrations from the EU-8+2 to the EU-15 were motivated by differences in earnings and productivity and to what extent by differences in welfare state generosity during the period of the transitional arrangements. On...

Emerging economies have specificities which distance them compared to advanced economies in practicing inflation targeting (IT) monetary regime. One of the main differences in performing IT in advanced compared to emerging economies is “fear of floating†problem in emerging group....

The European welfare regimes face two sets of challenges. One internal, specific for the welfare state itself, and the other external, imposed by changing economic, political and economics conditions. The first challenge lies in the growing gap between the rigid welfare state design and flexible...

In this paper, we examine the relative importance of external shocks in domestic fluctuations of East Asian countries and check if these shocks lead to asymmetric or symmetric reactions between the considered economies. To this end, we estimate, over the period 1990.1-2010.4, a structural VAR...

This paper explores the heterogeneity of growth in the Western Balkan and Emerging European economies. For that purpose, growth determinants are estimated in the period 1997-2009 by dynamic panel data models. The chosen period provides a comparison for the model results with those estimated for...