What explains Uzbekistan`s unusually mild quot;transformational recessionquot; and its moderate recovery during 1996-97? We examine potential biases in output measurement, the role of quot;special factorsquot; including initial production structure, natural resources, and public investment...

This paper assesses the macroeconomic impact and policy challenges related to Estonia`s prospective accession to the EU and its potential adoption of the euro. Our analysis of the trade, financial, and fiscal channels includes a model-based illustrative scenario using MULTIMOD. We conclude that...