The author evaluates how much relative price shifts affected inflation in Poland between 1989 and 1997. He uses a theoretical model that predicts a positive relationship between variance and skewness in the distribution of relative price changes and the general inflation rate. Regressions...

This paper investigates the effects of EU enlargement on price convergence. The internal market is expected to boost integration and increase efficiency and welfare through a convergence of prices in product markets. Two principal drivers are crucial to explain price developments. On one hand,...

This paper has been designed as an attempt to estimate the magnitude of the influence of relative price shifts on the overall price level in Poland during the transition period 1989-1997. For that purpose, the theoretical model has been found that builds on menu costs and trend inflation to...

The paper examines economic and political challenges of joining the euro area in the case of Poland. After reviewing the economic developments since the pre-accession period and assessing economic convergence with the euro area the paper focuses on the political and institutional challenges of...

Capital account liberalization and exchange rate regime choice, what scope for flexibility in Tunisia? The adoption by Tunisia of structural reforms of its economy in a context of gradual opening since 1986, had allowed the instauration in January 1993 of the convertibility of its current...

The recent debates over discriminatory versus uniform-price auctions in the UK and elsewhere have revealed an incomplete understanding of the limitations of some popular auction models when applied to real-world electricity markets. This has led certain regulatory authorities to prefer...

In a Bayesian game players play an unknown game. Before the game starts some players may receive a signal regarding the specific game actually played. Typically, information structures that determine different signals, induce different equilibrium payoffs.In zero-sum games the equilibrium payoff...