We argue that the existence of large amounts of specific human capital makes costly and slows down the adjustment in the labor market after large reallocation shocks. To illustrate this point we build a theoretical framework in which young agents’ career is heavily determined by initial...

The effect of transition from centrally planned to market economies on female employment is unclear a-priori. Many studies have pointed out that the emergence of labour markets created obstacles to but also new opportunities for women's employment. A frequently mentioned potential explanation of...

This paper examines household level economic changes in Central and Eastern Europe before and during the transformations of their economies. The authors test the assumptions that the economic transitions would increase poverty and income inequality within the Czech Republic, Slovak Republic,...

Transformation erfordert die Veränderungen von Institutionen und die Öffnung von Finanzmärkten. Allerdings gelten zehn Jahre nach Beginn der Transformation Institutionen und die Funktionsweise der Finanzmärkte noch immer als Problemfelder der Reformen in Mittel- und Osteuropa. Damit werden...