In terms of output decline and increase in unemployment, the economic recession in Latvia that started during the 2008-09 financial crisis was one of the most severe in the world. Using both decomposition of the unemployment rate into structural and cyclical components and Mortensen and...

This policy paper assesses Latvian inflation performance in an EU and Baltic states context and speculates on the overall prospects for the Latvian economy in the light of the emerging slowdown both in Latvia and elsewhere. On inflation it is likely that, in the absence of new major price...

Various recent developments, eg the 'new economic geography' as exemplified by say, Krugman, P. (1991) or work originating in the business literature (Porter 1998), point to industrial and intellectual capital clusters as key factors associated with economic development. Indeed recent evidence...