An employer-based sample of over between 200,000 and 300,000 Czech and 50,000 to 100,000 Slovak workers is used to estimate returns to various forms of human capital between 1995 and 1997 (to be extended to 1998). By 1997 education of all types had become substantially more highly rewarded in...

We report further evidence to support the contention that inflationary biases in transition economies may be substantial due to consumer substitution, outlet substitution, underadjustment for quality changes, and new goods biases where new goods are properly understood as those that are new to...

Mismeasurement of inflation is likely to be more severe in a transition economy than in a more stable environment. Reasonable estimates of the size of the inflationary bias in the Czech Republic suggest that conventionally reported declines in real output and living standards during the...

We investigate how a firm's financial performance affects workplace safety. We provide empirical estimates of the relationship between a firm's financial condition and its investment in workplace safety using plant-level proxies for safety performance from OSHA records for thirteen large...

Mismeasurement of inflation is likely to be more severe in a transition economy than in a more stable environment. Comparisons of self-reported changes in economic welfare with changes in incomes suggest that official Romanian inflation measures may be overstated by between 100 and 300 percent...

Mismeasurement of inflation is likely to be more severe in a transition economy than in a more stable environment. Comparisons of self-reported changes in economic welfare with changes in incomes suggest that official Romanian inflation measures may be overstated by between 100 and 300 percent...

A fundamental question in economics since the 1930s has been whether an administrative price system could simulate the results of perfect competition even without a true market for the means of production. The theoretical possibility of such a system has been known since the introduction of...

A state monopoly in schooling followed the collapse of communism in Central Europe. The centrally planned system was abandoned. Systems comparable with educational voucher scheme, also known as school choice system, were introduced in the Czech Republic and Hungary in the early 1990s. The newly...

Substantial understatement of the degree of quality improvement during transition, and, therefore, a substantial overstatement of inflation rates has resulted in a serious downward bias in estimates of the rate of growth of post-communist economies. The move to free markets has apparently...

Current literature shows a significant negative impact of terrorism on countries economies. We explore this relationship in more detail. Using an unbalanced panel of over 160 countries for up to 25 years and the Global Terrorism Database (GTD) we show a decrease in FDI as a consequence of...