household consumption and fixed investment in the business sector in 2011 and afterwards. Moreover, attempts at serious fiscal …

employment. Furthermore, patterns of adjustment across CESEE economies vary greatly, with some countries (such as Croatia … dampens consumption expenditures, and leads to cutbacks in employment (and wages), which, in turn, lower household incomes and … markets of the CESEEs and the situation of the banking sector respectively. Towards the end of 2011 the employment situation …

much larger than that of exports. This, together with less profit realized by foreign companies operating in the region … pronounced as long as employment fails to grow. Investment will not act as a strong engine of growth either. Given the generally …

their external competitiveness - via devaluation and/or cuts in employment. On account of their solid industries, they … crisis. In the Western Balkans, significant employment cuts have so far been mostly averted, but they might well come to the …. Furthermore, as a consequence of the crisis, persistently low employment levels might result in human capital losses. The slower …