We adopt a comparative view of the stabilization policies designed and implemented in Bulgaria and Yugoslavia during the fatal economic crises of their regimes in late 1980s. The role of the IMF can be better highlighted by comparing “with (Yugoslavia)-without (Bulgaria)” scenarios in a...

Der Autor diskutiert die politisch-ökonomischen Voraussetzungen und Bedingungen, die Frage der Durchführbarkeit und die zu erwartenden Effekte eines Maßnahmenkatalogs zur Bewältigung der jugoslawischen Wirtschaftskrise auf der Basis und mit den Mitteln des sozialistischen...

We study optimal government spending in a business cycle model with frictional unemployment. The Ramsey optimal policy is contrasted with a reference policy which would be first best in a frictionless economy. Results are: the Ramsey policy i) implies a higher steady state ratio of government...