There are large spatial differences in unemployment within Ukraine. For example, it ranged from 0.15 percent for Illichivsk (Odesska obl) to more than 14 percent for Chernigivskiy rayon (Zaporizka obl.) in 2006. Regions within a country may have different sources and structure of unemployment...

We supposed that expenditure growth brought about by an increase of energy price might make it attractive for the firms to hide more taxes and social payments in order to compensate this growth, which could additionally raise the size of shadow economy. To test this hypothesis we, first, used...

Real exchange rate (RER) of Ukrainian currency can be explained within the real business cycle framework without any forms of nominal rigidities. Fitting Ukrainian quarterly data for the period 1996 Q1-2009 Q3 into the small open economy real business cycle model and testing it by method of...

Differential information economies are investigated from the viewpoint of contract based approach, developed in series of author’s papers. The key idea of the approach is to change the study of a “final” allocation of commodities with (different forms) stable webs of barter contracts which...

We develop a monopolistic competition model with two sectors and heterogeneousagents who self-select into entrepreneurship, depending on entrepreneurial ability. Theeffect of market size on the equilibrium share of entrepreneurs crucially hinges on propertiesof the lower-tier utility function...

We investigate the dynamics and the structure of the Russian poverty for the period of 1994 – 2005 in the context of the government socio-economic policy of poverty reduction. In the study we employ decompositions of relative levels of poverty on growth and redistribution components of average...

Managers are risk averse and less willing than risk neutral shareholders to take on debt. Therefore in firms with poor corporate governance practices, where manager’s preferences dominate shareholders’ objectives, we shall see less debt and slower rates of adjustment of the capital...

This paper studies the macroeconomic performance of Ukraine since 1991. During last twenty years, Ukraine experienced three episodes of prolonged recessions. The project uses business cycle accounting methodology developed by Chari et al. (2007) to identify driving forces behind economic...

This study attempts to examine the effects of exchange rate risk on aggregate bilateral trade flows employing gravity models for Belarus, Kazakhstan, Russia, and Ukraine. The empirical analysis uses the quarterly data for the period generally from 1995Q1 to 2008Q4. In this study, the gravity...

Development of self-employment becomes increasingly important issue for the transitional economy of Belarus. However the role of pecuniary benefits in terms of moving people towards self-employment is not explored, and neither is the question of whether the direction of its’ impact is...