On the face of it, Austria’s labour market performs very well, which is reflected in one of the lowest unemployment rates in the EU. However, while many of the euro area members have recently succeeded in reducing unemployment, the Austrian jobless rate has been on a clearly rising path since...

Over the last decade the Czech Republic has had the lowest GDP growth of all the ten recently acceded Member States. However, its foreign balance has improved over the same period, as have the terms of trade. Although changing terms of trade can have a significant welfare effect, this often...

In the recent debate on the response to the challenges of globalisation, the so-called Nordic model has received much praise. While the three Nordic countries are often lumped together, their performance has not been the same. A notable feature of the Finnish economy compared with that of Sweden...

Some regulation is needed to enhance growth and economic welfare, but too much undermines productivity. Generally, the UK seems lightly regulated, especially in its international transactions, and it has a public enterprise sector small in both size and scope. Yet British business has become...

When using indicators of inequality of income distribution and the at-risk-of-poverty rate, the Czech Republic has one of the highest levels of social cohesion in the EU, comparable to that of the Nordic countries. Though social transfers play a significant role in reducing the Czech poverty...

Bulgaria has for years been facing some of the highest credit growth rates and current account deficits in Central and South-Eastern Europe, raising concerns about possible risks for macroeconomic and financial sector stability. Since standard monetary policy instruments are not available within...