"This book adopts novel theoretical approaches to study the diverse welfare pathways that have been evolving across Central and Eastern Europe. Beyond existing path dependency and neo-institutionalist explanations, it highlights the role of explanatory factors such as micro-causal mechanisms,...

The Balassa-Samuelson effect is usually seen as the prime explanation of the continuous real appreciation of central and east European (CEE) transition countries' currencies against their western counterparts. The response of a small country's real exchange rate to various shocks is derived in a...

The Balassa-Samuelson effect is usually seen as the prime explanation of the continuous real appreciation of central and east European (CEE) transition countries' currencies against their western counterparts. The response of a small country's real exchange rate to various shocks is derived in a...