This paper evaluates the implications of Eastern EU enlargement with the use of a computable general equilibrium model. The focus is on accession to the Single Market, with explicit modelling of the removal of border costs and costs of producing to different national standards. The results...

The paper consists of two parts. In the first part, the authors briefly summarize the results of previous analyses devoted to such issues of relevance as the ownership structure of privatized companies in Poland and how it changed over the course of the 1990s, what factors seemed to have...

The paper briefly presents environment for business in Poland as of the end of the year 2005. A few comments, however, on its evolution in the course of the transition period are also made. The paper broaches administrative, legal and financial requirements to start and run business activities...

This paper aims at comparing the uneven process of changes in competitiveness among three accession countries' manufacturing industries, the Czech Republic, Hungary and Poland, during the period prior to their EU membership (1996-2003). It demonstrates that the three countries improved...

This paper aims to devise a monetary policy instrument rule that is suitable for open economies undergoing monetary convergence to a common currency area. The open-economy convergence-consistent Taylor rule is forward-looking, consistent with monetary framework based on inflation targeting,...

The identification of a possible European business cycle has been inconclusive and is complicated by the enlargement to the new member states and their transition to market economies. This paper shows how to decompose a business cycle into a time-frequency framework in a way that allows us to...

The dispersion in current account balances among countries in the euro area has widened markedly over the past decade-and-a-half, and especially since 1999. We decompose current account positions for euro area countries into intra-euro-area balances and extra-euroarea balances and examine the...

There are diverse ideas about governance around the world, and this paper studies them through the following questions: (a) what does the available evidence tell us about the political and institutional requirements for sustained economic growth? (b) What do we need from the state to secure...

The collapse of communism faced Poland and other former Soviet bloc countries with the need for a massive 'institutional refit', as regards both economic and political institutions. This paper describes where some of the key new institutions were derived from (either in the form of transplants...

This paper uses NIESR’s global econometric model, NiGEM, to analyse possible adjustment paths for the US current account, if its current level of 6 per cent of GDP proves unsustainable. Nominal exchange rate shifts have only a transitory impact on current account balances, so any long-term...