The Czech economic transition |
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Authors: | Frank Barry John Bradley Michal Kejak David Vavra |
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Institution: | University College Dublin; Economic and Social Research Institute, Dublin; CERGE-EI, Charles University, and Academy of Sciences of the Czech Republic; Czech National Bank |
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Abstract: | The processes that will drive the next stage of the Czech transition are likely to be similar to those promoting real convergence in the countries of the EU periphery. We draw on previous modeling research on these latter economies to construct and calibrate a small macrosectoral model of the Czech Republic. Model simulations explore some key policy issues facing CEE‐country decision‐makers: labour market reforms, disinflation and industrial development. Our analysis suggests that much can be learned from the experience of countries like Ireland and Portugal which have converged substantially towards EU average living standards. |
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Keywords: | Czech Republic transition macromodel simulation |
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