Based on a three-equation model for initial firm size, survival, and firm growth we estimate firm-specific transition probabilities between size classes of the firm size distribution. This allows to analyze counterfactual scenarios that assess the impact of changes in exogenous variables on the...

According to difference-in-difference estimates business cycle synchronisation and similarity in sector structures between acceding and pre-existing regions reduced after Eastern Enlargement. Results for Northern enlargement are more ambiguous. In both enlargements, however, region pairs...

This paper analyzes how governments in transition economies, interested in their budgetary situation privatize large enterprises. While informal discussions favour voucher privatization my formal model of privatization suggests that voucher privatization may be hard to implement: In contrast to...

In this paper we analyze annual trade data for Austria and Central and Eastern Europe (CEE) on a disaggregate level. Permanent structural changes in East-West trade turn out to be an important feature in the transition process. The considerable contribution of intra-industry trade to overall...

This paper uses the multiple variance ratio test procedure developed by Chow and Denning (1993) to test for a random walk of stock returns on the Austrian Stock Exchange. I find that with daily data the test rejects the random walk hypothesis at all conventional significance levels for each and...

During the last economic boom period, more than half of Austria's hotels and restaurants laboured under staff shortages, and only 31 percent felt unaffected by any personnel deficit. The key factors determining recruiting problems were the growth rate and size of an operation and the share of...