The first phase of transition to a market economy in Central and Eastern Europe was characterized by a sharp output decline. The fall in real GDP exceeded 20% while real industrial production decreased even by 40%. Output Decline in Eastern Europe aims at providing comprehensive, multi-factor...

I: The Role of Exchange Rate Regimes -- 1 Exchange Rate Policy and Real Exchange Rate Changes in Economic Transition -- 2 The Polish Exchange Rate Policy and Economic System Transformation -- 3 Economic Recovery and Foreign Exchange Rate Regime: The Case of the Czech Republic -- 4 The Birth and...