Serbia after Djindjic (by Vladimir Gligorov) Countries covered Serbia EU enlargement assessing the impact of transfers (by Sándor Richter) EU membership and income level convergence the experience of the Cohesion Countries (by Kazimierz Laski and Roman Römisch) Selected monthly data on the...

Graph of the month Inequalities in hourly earnings at PPP measured by the Gini index, 2002-2010 (p. 1) Opinion corner Presidential election in Romania will the new broom sweep cleaner? (by Gábor Hunya; pp. 2-3) Earnings levels, inequality and coverage rates of collective agreements (by Sebastian...

Summary The Ukraine conflict is having serious consequences not only for Russia and Ukraine, but it also potentially threatens to damage the still frail economic recovery in Europe. In Ukraine, which is the main victim of the conflict, the economy may decline by up to 8% this year. In Russia,...

Patterns of transition (by K. Poznanski, J. Poznanska and H.Y. Liu; pp. 1-11) Keywords transition, shock therapy, privatization, market vs. state Countries covered CEE, CIS, East Asia Topics Macroeconomic Analysis and Policy Recent trends in the quality of traded goods NMS are closing the gaps...

Abstract Trade in goods and services is likely to be an important channel for international knowledge diffusion. This paper considers the extent of R&D spillovers through intermediate inputs for a sample of up to 40 developed and developing countries. Results suggest that such spillovers are...

Abstract One of the main stylised facts that has emerged from the recent literature on global value chains is that bilateral trade imbalances in gross terms can differ substantially from those measured in value added terms. However, the factors underlying the extent and sign of the differences...

Graph of the month Oil price and exchange rate of the Russian rouble, 2008-2014 (p. 1) Opinion corner Is Jean-Claude Juncker's EUR 315 billion European investment plan the proper answer to the EU's anaemic economic performance? (by Sándor Richter, Roman Römisch and Roman Stöllinger; pp. 2-4)...

Growth in the CESEE region will follow the unimpressive pattern displayed by the euro area. The longer-term convergence of income levels in the CESEE countries can no longer be expected to be as rapid as was assumed a decade or so ago. Growth in the period 2015-2017 is not going to deviate...

Abstract This paper analyses the impacts of the crisis on various groups in the labour market, providing a comparison across groups of EU countries and individual Central and East European new EU Member States. Particularly it reports how the crisis affected the transitions of people between...

Abstract It is now widely accepted that when controlling for international differences in production techniques, the predictions from the Heckscher-Ohlin-Vanek (HOV) theorem are largely satisfied. However, a large amount of ‘missing trade’ remains. This paper makes two main contributions...