Old debts and new beginnings: A policy choice in transitional socialist economies

Transitional Dynamics in Transition Economies

Adjustnent through Opening of Socialist Economies

1.1 Systemic barriers to growth in the socialist 6 countries in the 1970s 1.2 Growing need for reform and the Hungarian experience 8 1.3 Systemic reforms vs. external financing.

Property Rights and Stratification in Socialist Redistributive Economies

Informal Economies in Post-Socialist Spaces – Practices, Institutions and Networks

Policy Instrument Choice and Non-Coordinated Monetary Policy in Interdependent Economies∗

Non-coordinated monetary policy is analysed in a stochastic two-country general equilibrium model. Non-coordinated equilibria are compared in two cases: one where policy is set in terms of state-contingent money supply rules and one where policy is set in terms of state-contingent nominal interest rate rules. In general the non-coordinated equilibrium differs between the two types of policy rul...