Monetary policy and inflation in Georgia in the years 1996-1998 are the subject of this paper. As it is written in the middle of 1997, the discussed period is in a natural way divided into two parts: past and future. Correspondingly, first sections of the paper deal with facts which have already...

This paper estimates responses to monetary shocks for several of the current members of the EMU (in the pre-EMU sample) and for the Central and East European (CEE) countries, along with the mean response in each of the groups. The problem of the short sample, especially acute in the case of the...

After stabilization in 1993 Moldova maintained an unsustainable macroeconomic policy mix. The key problem was a lack of a fiscal adjustment, which resulted in large budget deficits. At the same time, the National Bank of Moldova (NBM) attempted to conduct a tight monetary policy. As a result,...

This paper estimates responses to monetary shocks for several of the current members of the EMU (in the pre-EMU sample) and for the Central and East European (CEE) countries, along with the mean response in each of the groups. The problem of the short sample, especially acute in the case of the...

The European debt crisis triggered a debate on the lacking components of the EU and EMU integration architecture. Many believe that a common currency requires closer fiscal and political integration as a condition for its survival. This opinion is not necessarily supported by the experience of...

The purpose of this study is to explore and assess the costs and benefits of labour migration in Armenia and the potential of migration for contributing to the country’s development. We also examine how policy can be effectively formulated and implemented so that Armenia can get the most...

This Report is one of the six studies in the first phase of the EU project on the "Costs and Benefits of Labour Mobility between the EU and the Eastern Partnership Partner Countries". It aims at providing an informed view of the potential for increased migration flows and their consequences as a...

Labour migration does not appear to have the same magnitude and socio-economic importance in Belarus as in other EaP countries. It is one of the few post-socialist economies that have preserved the dominance of the state sector and built complicated systems of subsidisation and economic support...

This Report is one of six studies in the first phase of the EU project on "Costs and Benefits of Labour Mobility between the EU and the Eastern Partnership Partner Countries." It aims to provide an informed view on the potential for increased migration flows and their consequences as a result of...

The present paper first takes a step backwards with an attempt to situate the adoption of this Treaty in discussion of the SGP and the “Maastricht criteria” (the criteria for EMU membership fixed in the Maastricht Treaty) in a longer perspective of the sharing of competences for...