We examine the international stock market comovements between Western Europe vis-à-vis Central (the Czech Republic, Hungary and Poland) and South Eastern Europe (Croatia, Macedonia and Serbia) using multivariate GARCH models in 2006–2011. Comparing these two groups, we find that the degree of...

How is migration related to informal activities? They may be complementary since new migrants may have difficulty finding employment in formal work, so many of them end up informally employed. Alternatively, migration and informality may be substitutes since migrants’ incomes in their new...

Dieser Artikel beschäftigt sich mit dem Konvergenzprozess in der Europäischen Union. Der Schwerpunkt liegt dabei auf der Periode nach der Osterweiterung 2004–2007. Somit wird eine detaillierte Untersuchung vorgenommen und es werden nicht nur wirtschaftliche, sondern auch institutionelle...

We analyze the role of innovation in the technological development of four new EU members: the Czech Republic, Hungary, Poland and Slovakia. For that purpose, we use a novel approach by modeling the empirical relationship between intra-industrial bilateral trade flows, which proxy the level of...

While most transition countries suffered substantially from the world financial crisis of 2008 and still cope with its consequences, Uzbekistan has stayed almost untouched and shows constant economic growth since 2001. Neither macroeconomic foundations nor available institutional indicators...

An extensive literature has analysed the economic effects of transition patterns in Central and Eastern European and former Soviet Union countries. With few recent exceptions, analysis of the impacts of speed and sequencing of reforms has not concerned the dynamics of income inequality. In this...

Internal migration flows in Kazakhstan are of high social and political relevance but political and public attention has primarily been devoted to external movements. This paper presents the main descriptive results of a new household survey on migration and remittances in Kazakhstan which was...

This study uses detailed, reliable and up-to-date linked employer-employee data that take account of both the demand and the supply side of the labor market to challenge the conventional wisdom of a universal exporter wage premium. It investigates whether for German establishments an exporter...

The New Keynesian Phillips Curve has become an inherent part of modern monetary policy models. It is derived from micro-founded models with rational expectations, sticky prices, and forward and backward-looking subjects on the market. Having reviewed about 200 studies, we analyze the weight of...

In the transformation economies of Eastern Europe a rather high level of institutional heterogeneity developed after having started at low, albeit quite similar levels after the fall of the Iron Curtain. This heterogeneity is relevant both at the level of the major macroeconomic indicators and...