This paper addresses an aspect of the financial crisis in South Korea that has not been dealt with in depth. The question that will be analyzed is: how does the general population perceive the crisis? In attempting to answer this question we rely on new representative survey data, covering the...

This paper analyses subjective economic well-being in several Eastern European countries from 1991 to 1995. Economic well-being explains a significant part of the variation in overall life satisfaction of Eastern Europeans. In an ordered logit model, the determinants of subjective economic...

The International Monetary Fund (IMF) has played an important role in restructuring the Korean economy over the past three years. Relying upon survey data collected in 1998 and 1999, this paper explores the role of the IMF in Korea, as perceived by its citizens. In the eyes of the Korean people,...

European Monetary Union will come into existence in 1999. This raises questions related to the monetary policy targets that will be adopted by the European Central Bank (ECB). For both likely candidates, targeting a money aggregate or an inflation target, the existence of a stable money demand...

The European Monetary Union (EMU) has been the subject of fierce controversies both among professional economists and ordinary people. This paper analyses the association between the degree of information of ordinary people and their opinion on EMU. In this context, we are concerned with basic...

This paper investigates in a consistent semi-structural empirical framework three current issues of monetary policy in the euro area. First, regarding policy transmission we offer a three-stage procedure to combine the efficient estimation of economic structure prior to EMU with current ECB...

The paper empirically investigates whether people's attitude towards the progress in political transformation in Eastern Europe are influenced by economic factors. Thereby it addresses the question of independence between economic and political system. Using a large panel data set, containing...

The paper derives a normative model for partial fiscal equalisation based on a number of axioms and makes special allowance for the existence of a specific fiscal need in the jurisdictions. A simple version of this idealised equalisation scheme relates net contri-butions to the equalisation...

This paper analyses the determinants of happiness in seven Eastern European transition countries during the early phase of economic transition. The analysis of representative survey data in an ordered logit model shows that those core socio-demographic and economic variables known to be relevant...

Judicial Independence (JI) as factually implemented varies considerably between countries. Since de iure JI is an imperfect predictor of de facto JI, a number of variables that might determine the factual level of judicial independence is theoretically discussed and empirically tested. A...