This paper uses data on currency options prices for the exchange rates of the three largest new EU member states Poland, Czech Republic and Hungary vis-à-vis the euro and the US dollar to estimate the risk-neutral density (RND) functions and the density interval bands. Analysing the RNDs, we...

The paper analyses the potential for lending booms in the three biggest new EU Member States (the Czech Republic, Hungary and Poland) during the process of euro adoption. Experiences of some old members (Greece, Ireland and Portugal) and the econometric evidence speak in favour of strong loan...

We investigate the impact of fiscal variables on bond yield spreads relative to US Treasury bonds in the Czech Republic, Hungary, Poland, Russia and Turkey from May 1998 to December 2007. To account for the importance of market expectations we use projected values for fiscal and macroeconomic...

In this paper we analyse the impact of monetary policy on total bank lending in the presence of a developed market for foreign currency denominated loans and potential substitutability between domestic and foreign currency loans. Our results, based on a panel of four biggest Central European...

The paper analyses the effects of international fragmentation in terms of intermediate goods trade on the dynamics of skill-specific real wage bills in manufacturing of three Central and East European countries (Hungary, Poland, the Czech Republic). Both intermediate goods exports and imports of...

Based on the review of literature and our own conceptual considerations, we show that absorption problems regarding the EU Structural Funds may be important. The central topic of our paper is the question of how to measure the administrative capacities of particular Candidate Countries for...

This paper analyses the willingness to commute and migrate across borders. We focus on differences in the effects of individual characteristics on the willingness to migrate and the willingness to commute. Based on a random utility model we estimate a multinomial probit regression using...

In this paper I analyse the export behaviour of firms located in different Central European countries (Austria, Hungary, Czech Republic and Slovakia) with respect to migration. Ever since the seminal article by Gould (1994) on immigrant links to their home country and due to empirical research...

Process of economic transition influences every aspect of economy. Capital formation process in post-socialist countries is very interesting. I check what are the determinants of level of investments during the transition process. I found that despite of high level of accumulation in socialist...