In this paper we estimate the trade effects of the euro adoption in Central European countries using a modified gravity model. In particular, we analyze the ex post implications of accession of Slovenia and Slovakia to the Eurozone. We employ a gravity model that controls for an extended set of...

This paper presents an AR(1) model in the spirit of Hausman and Taylor zero differences between actual and in-sample predicted trade flows. Large systematic differences between observed and in-sample predicted trade flows only indicate model misspecification and econometric problems....

This paper analyzes the process of power utility re-regulation in Eastern Europe and the CIS during the decade of systemic transformation (1990-1999); in particular, it explores reasons why early attempts to introduce competition-oriented reform models have not succeeded. We discuss advantages...