In this paper, we present a simple but rigorous model of the dynamics of output and Unemployment in transition. We consider a worker-entrepreneur, who is 'locked in' to her current production technique, with a choice of continuing to work with it or search for a better technique. If she succeeds...

In this paper, we present a simple but rigorous model of the dynamics of output and Unemployment in transition. We consider a worker-entrepreneur, who is 'locked in' to her current production technique, with a choice of continuing to work with it or search for a better technique. If she succeeds...

In this paper, we present a simple but rigorous model of the dynamics of output and unemployment in transition. We consider a worker-entrepreneur, who is "locked in" to her current production technique, with a choice of continuing to work with it or search for a better technique. If she...

In this paper we look at economic liberalization – both in the context of countries under transition from communism to capitalism, and in the context of developed market economies of North America and Western Europe. By “liberalization” we mean not just opening to external trade and...

Using a gravity model, we examine whether labor standards are important determinants of bilateral export performance for EU-15 countries over the period 1988-2001. We assess the conventional wisdom that countries with low labor standards and less stringent regulations have performed better in...

This paper describes the currency board regime operations in Bosnia and Herzegovina and assess its performance and sustainability in the context of the economic, political and institutional environment. To the best of our knowledge, our study seems to be unique in this respect. Based on the...