Most transitional economies in Central and Eastern Europe have rather surprisingly resisted protectionist pressures - at least during early stages of reform - and adopted liberal trade policies. In this paper the course of trade policy during transition is explained from a political economy...

Most transitional economies in Central and Eastern Europe have rather surprisingly resisted protectionist pressures - at least during early stages of reform - and adopted liberal trade policies. In this paper the course of trade policy during transition is explained from a political economy...

Bulgaria has for years been facing some of the highest credit growth rates and current account deficits in Central and South-Eastern Europe, raising concerns about possible risks for macroeconomic and financial sector stability. Since standard monetary policy instruments are not available within...

The ""conservative central banker"" has come under attack recently. On the basis of models in which there is explicit interaction between trade union behavior and monetary policy, it has been argued that if ''trade unions'' are averse to inflation, welfare will be lower with a conservative than...