possible disadvantage compared to classic fiscal stimuli is that transfers have no steerable relation to business cycles. In …

household consumption and fixed investment in the business sector in 2011 and afterwards. Moreover, attempts at serious fiscal …

contrast to the better dynamics in other ‘emerging markets’ in Asia and Latin America, and underscores the dependence of large …

employment. Furthermore, patterns of adjustment across CESEE economies vary greatly, with some countries (such as Croatia … dampens consumption expenditures, and leads to cutbacks in employment (and wages), which, in turn, lower household incomes and … markets of the CESEEs and the situation of the banking sector respectively. Towards the end of 2011 the employment situation …

happening in the labour markets. Employment rates have declined in most countries while unemployment in particular among the …

Central, East and Southeast Europe (by Joanna Poznanska and Kazimierz Poznanski; pp. 9-11) Wages and Employment in the Western …

much larger than that of exports. This, together with less profit realized by foreign companies operating in the region … pronounced as long as employment fails to grow. Investment will not act as a strong engine of growth either. Given the generally …