Results of numerous cross-country growth regressions have been found to be sensitive to specification, time period or sample coverage. Several authors have observed that results may depend on the source and data collection methods for right-hand side variables. In this paper we suggest that a...

In contrast to many other accession countries of Central and Eastern Europe (CEECs), the Czech Republic experienced a shorter and less severe transition recession in the first half of the 1990s. The decline in output lasted two years and by 1995, real GDP had returned to its 1989 level....

This paper investigates the possibility that newly emerging equity markets in Central Europe exhibit semi-strong form efficiency such that no relationship exists between lagged values of changes in economic variables and changes in equity prices. We find that such efficiency is characteristic of...

Replication of two recent studies of growth determinants shows that results are sensitive to the choice of data from which growth rates are calculated, especially with respect to whether economic convergence has occurred. Previous warnings against using data that has been adjusted to increase...

We develop an estimator of unreported income, perhaps due to tax evasion, that does not depend on as strict identifying assumptions as previous estimators based on microeconomic data. The standard identifying assumption that the self-employed underreport income whereas wage and salary workers do...