Ende der 80er/Anfang der 90er ereignete sich eine der historisch einzustufenden Zäsuren der Geschichte: der Zusammenbruch des östlichen Wirtschafts- und Hegemoniesystems. Die Länder Mittel- und Osteuropas leiteten eine Transformation ihrer Rechts-, Wirtschafts- und ihrer politischen Ordnungen...

We assess the effects of reforms in product and labor markets in a model economy featuring credit restrictions and pre-existing long-term debt. Both elements, which are core features of the current scenario faced by some euro area countries, combine to produce a slow and protracted deleveraging...

This paper uses 1985-1999 manufacturing census data for old Russian enterprises to calculate the magnitude and productivity effects of gross job flow rates before and after reforms. Job creation was low throughout the period in this sector, but increased slightly during the transition, while job...