Schott et al. (2007) have shown that the “tragedy of the commons” can be overcome when individuals share their output equally in groups of optimal size and there is no communication. In this paper we investigate the impact of introducing communication groups that may or may not be linked to...

We estimate the causal effect of early retirement on mortality for blue-collar workers. To overcome the problem of endogenous selection, we exploit an exogenous change in unemployment insurance rules in Austria that allowed workers in eligible regions to withdraw from the workforce up to 3.5...

Self-determination in politics has become the ideal everybody accepts. This paper argues that such contentment undermines the very idea of democracy. Democracy should be open to criticism and change. Two possible developments are considered: (a) More political power should be given to the...

The focus of the paper is on individual investor trading characteristics, the disposition effect bias and its links to performance. The analysis is based on the individual investor subsample of the complete transaction data of the Estonian stock market. The Cox proportional hazard model, along...

Unlike Western countries, there are no studies focusing on the full-time/part-time wage gap in Central and Eastern Europe countries. The focus of this paper is the incidence and reasons for the part-time wage gap in Estonia, a small Eastern European catch up economy. We use Estonian Labour Force...

The aim of the current study is to explore the effect of macroeconomic news on stock returns in Eastern European countries, combining market and macroeconomic data over the period of 2000-2009, during which the markets experienced excessive optimistic and pessimistic episodes. Hypothesising the...

This study investigates whether Latvian and Estonian second-pillar pension fund managers can outperform European equity and fixed income market indexes on a consistent basis. The quarterly returns of 17 pension funds, for the time period from 2003 till 2009, have been studied. Findings confirm...

This paper discusses trade developments in EU8 economies: the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Slovakia and Slovenia. The objective of the study, based on a panel model estimated with modern techniques of pooled mean group estimation with common correlated effects...

This paper discusses how the global financial crisis has affected the formation of exchange rates and interest rates in three major Central and Eastern European countries: Poland, the Czech Republic and Hungary. Two main channels of the transmission of the crisis are considered: the exchange...

This paper presents an empirical analysis of the economic growth paths in two groups of countries. The first group consists of ten Central and Eastern European (CEE) countries. The second group constitutes a benchmark and encompasses 29 emerging economies in other regions of the world. Our...