The Balassa-Samuelson effect is usually seen as the prime explanation of the continuous real appreciation of central and east European (CEE) transition countries' currencies against their western counterparts. The response of a small country's real exchange rate to various shocks is derived in a...

The Balassa-Samuelson effect is usually seen as the prime explanation of the continuous real appreciation of central and east European (CEE) transition countries' currencies against their western counterparts. The response of a small country's real exchange rate to various shocks is derived in a...

Im ersten Teil des Berichts wird eine Übersicht über die bisherigen Erfahrungen der OECD-Länder mit Außenhandelskontrollen gegeben. In fast allen OECD-Ländern wurden Außenhandelskontrollen aufgegeben. Obwohl zwischen den östlichen Reformländern und den westlichen Industrieländern große...

ince the beginning of 1997, a currency and/or banking crisis broke out in several transition countries (Bulgaria, Romania, the Czech Republic, Russia, Ukraine). In 1995, Hungary avoided a financial crisis by adjusting properly her macroeconomic policies. Financial markets in transition countries...