This paper treats inflation in Ukraine between 1993 and 1996 as an essentially monetary phenomenon: price increases are dtermined in such a way as to bring the real value of the supply of money into balance with real money demand. Cointegrtaion techniques are used to estimate long-run money...

Arguments are presented in the case of Eastern European transition countries for combining the restructuring of insolvent pay-as-you-go retirement systems with the introduction of mandatory, private, funded pensions. They involve the reduction of dead-weight loss, the return to formal activity...

This paper describes the crisis of Romania's pension system , and analyses the reforms the government elected in 1996 is undertaking to resolve this crisis. Insolvency was principally due to demoralization of the system in the period following the collapse of Communism. Governments from 1990 to...

We study, in a model with unemployment, how labour market status affects the preferences for public spending, whether in the form of a public good or subsidies. We then derive the implications for the dynamics of government expenditures, under the hypothesis of majority voting.