The forthcoming eastern enlargement of the European Union is generally perceived to constitute one of the most significant challenges to the process of European integration so far. The economic impact of the enlargement is likely to be considerable. The enlargement, as any other previous...

The forthcoming eastern enlargement of the European Union is generally perceived to constitute one of the most significant challenges to the process of European integration so far. The economic impact of the enlargement is likely to be considerable. The enlargement, as any other previous...

The existing literature reports a positive relationship between sacrifice ratios and central bank independence. This paper discusses two critical points related to the usual procedures employed by this literature. One concerns the issue of non-stationarity of the inflation rate, the other the...

In this paper we develop a model relating market share to average costs. We start with a theoretical model of the factors that affect the firm's average cost curve, partitioning these factors into (a) measurable firm and competitive environment characteristics, and (b) unobserved factors that...