No modern economy can escape open unemployment as long as free labour and a free labour market exist. In any modern economy, there exists a tension between econ
Transition in Central and Eastern Europe has led to a U-shaped response of output: a sharp decline in output followed by recovery. Most of the countries of Cent
As the longest economic boom in history has given way to leaner times, unemployment has re-emerged as a major issue. This theoretically and empirically sophisti
Hungarian economist Janos Kornai first used the metaphor of a single path to postsocialist transition in his earlier book, The Road to a Free Economy. The new m