The paper combines and compares in a uniform framework various explanations for output decline during transition in Eastern Europe. The framework is provided by a computable general equilibrium model, calibrated for Poland, and used to quantify the consequences of some phenomena advanced as...

Supply shocks played an important role in macroeconomic fluctuations during the 1970's. Supply shocks are also increasingly important in Keynesian and neo-classical models of the business cycle. This paper is a short survey of these theoretical models. It also discusses the history of supply...