Industrial policy measures can be a reasonable supplement to economic and social policy actions during the period of transformation of centrally planned economies. This paper shows the interplay between industrial and social policy. Special attention is given to the timing and sequencing of the...

Previous papers in this Special Series, have described in detail the theoretical background and development patterns, along with some empirical results, for the privatisation processes in Bulgaria and Poland. A range of issues have been raised which demand closer empirical investigation. For...

The paper tries to shed some light on the definition of the shadow economy, in order to separate shadow activities from market activities and household production. A total income concept is applied, which is based on the labor force being engaged in market, shadow and household activities. Based...

The paper is based on an individual life-cycle model, which describes the purely economic components of human capital. The present value of human capital is determined by all future income flows, which at the same time constitute the individual as well as the total tax base of a nation....