We revisit the influential economic growth model by Lucas (1988) ["On the mechanics of economic development." Journal of Monetary Economics, 22(1):3-42], assuming that households optimally allocate consumption and education over the life-cycle given an exogenous interest rate and exogenous...

Our mandate was to consider the economic feasibility and possible impact of a free trade agreement between the European Union and Armenia. The study has been conducted by a group of researchers from Poland, Ukraine, UK, US and Armenia. All have worked on this project in an independent capacity....

Our mandate was to consider the economic feasibility and possible impact of a free trade agreement between the European Union and Georgia. The study has been conducted by a group of researchers from Poland, Ukraine, UK, US and Georgia. All have worked on this project in an independent capacity....

CEPS established a template for EU strategy towards the Balkans already during the Kosovo war, and this was refined in the Ljubljana Declaration by the think tanks of the region (with CEPS) in July before the Sarajevo Summit. The subsequent evolution of policy in the region and of the EU and...

While the regional economic integration encompassing the former Soviet Union (FSU) transpires to be inefficient, there appears to be a stronger interest in regionalism in smaller groups of more homogenous and geographically connected countries of the region, specifically, Central Asia. Using a...

This paper investigates the process of trade integration between the enlarged European Union and the Newly Independent States (NIS), focusing on the new EU member states (NMS) and selected NIS (Russia, Ukraine, Belarus, Moldova and Kazakhstan). The paper analyses the evolution of the regional...

This note examines the extent and patterns of structural changes that have occurred in European economies during the recent crisis using some stylised facts on changing output and employment struc-tures at detailed sectoral level. Focusing mainly on the new EU member states, we compare the...

The papers in the present SUERF Study is a selection of the papers presented at a SUERF Workshop and Special OeNB East Jour Fixe held at Oesterreichische Nationalbank in Vienna on 23 January 2009. In his opening remarks (chapter 2), Ewald Nowotny, Governor of the Oesterreichische Nationalbank...

Unit labour costs (ULCs) are one of the key economic variables considered in the context of globalization, competitiveness and production-location decisions. With the EU accession of eight Central and East European countries and their (almost) full inclusion in the European Single Market, the...