Papapanagos, Harry; Sanfey, Peter - School of Economics, University of Kent - 1997
This paper presents a model of labour reallocation in a transition economy and analyzes the determinants of the optimal … speed of transition. In its simplest form, the model implies that a rapid rather than slow pace of restructuring is … emigration flows from the transition country. Our main conclusion is that emigration, by improving the rate of job creation in …