The risks to the global economy are growing and so are risks to Russia’s growth. Russia’s short-term economic and fiscal situation remains favorable because of high oil prices with an almost balanced budget this year. But the balance of macroeconomic risks has shifted toward an uncertain...

An article reviewing Bulgaria's early market reforms implemented under harsh external conditions and considerable dislocation of the local economy. The article predicted that realistic growth scenarios for must be predicated on a debt and debt service reduction on Bulgaria's large external...

The note provides an argument for a rapid economic transition in Eastern Europe, inter alia, by comparing and contrasting the initial conditions and different institutional environments in Eastern Europe and China

This note demonstratres a potential theoretical problem in achieving general equilibrium in an economy composed of competitive firms maximizing income per worker, under conditions of fixed capital; a problem which might suggest that disequilibria in some markets might be a rule rather than...

The paper uses household budget survey data for income, expenditure, and taxes to analyze how taxes affect household income, and to address questions regarding the burden of taxation and the progressivity of the income tax. The paper provides answers to questions such as these: Does the tax...