We analyze business cycle convergence in the EU by focusing on the decoupling vs. convergence hypothesis for central, eastern and south eastern Europe (CESEE). In a nutshell, we fnd that business cycles in CESEE have decoupled considerably from the euro area (EA) during the financial crisis in...

This paper analyzes the impact of the exchange rate regime on inflation and output in (South) Eastern and Central Europe. The panel estimations for the period between 1994 and 2004 show that de facto measures of exchange rate stability have a better explanatory power than the de jure measures in...

Nearly thirty years after the fall of the Soviet Union, debates over paths to market liberalization have produced numerous studies across the social sciences. This groundbreaking work from Oleh Havrylyshyn offers a new perspective. Havrylyshyn, a former official in the post-independence...

Contents: Preface -- PART I A historic transformation: heterogeneity in CESEE in a changing global context -- 1 Looking back on 30 years of transition - and looking 30 years ahead / Robert Holzmann -- 2 1989: the year of the great ambivalence / Anton Pelinka -- 3 The price of unity: the...