EXECUTIVE SUMMARY Discussions for the combined eighth and ninth reviews were delayed by a political crisis and marked by new adverse Constitutional Court rulings. Reflecting in part austerity and reform fatigue, tensions within the ruling coalition led to two prominent cabinet members tendering...

Applying the Bayesian approach, a small open economy DSGE model was estimated using a sample of quarterly data for a macro-region formed by six Central Europe and Baltic economies: Czech Republic, Estonia, Hungary, Lithuania, Poland, and Slovakia. Estimates have been employed to investigate the...