In this paper we develop a two-country dynamic general equilibrium model by means of which we seek to explain the long-run paths of a converging emerging market economy. We borrow a paradigm from the New Open Economy Macroeconomics literature and amend it to address specific features such as...

We conduct a case study of the role of organized labor in the restructuring experience of two coal mining regions in the 1990's: Ostrava in the Czech Republic and Jiu Valley in Romania. Under similar external circumstances, the Ostrava region undertook gradual restructuring from early on whereas...