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Trade in Services in the Central and East European Countries
Roman Romisch
Издател: WIIW
Trade in services, although often neglected by theory and empiricism, plays a quite influential role in the balance of payments of most countries. In the case of the CEE countries, services trade also enters another dimension: it is a helpful means in the modernization process of the CEE economies whose (producer) services, as of 1989, were far
The Transition Economies
Leon Podkaminer
Издател: WIIW
For the first time since the transformation began, all transition economies recorded GDP growth in the year 2000. Some of the traditional 'losers' grew much faster than the traditional 'winners' of the transition process. The average growth rate in the region more than doubled and the differences in the rates of GDP change narrowed significantly.
Paper or Plastic? The Effect of Time on Check and Debit Card Use at Grocery Stores
Elizabeth Klee
Издател: Board of Governors of the Federal Reserve System
Time is a significant cost of conducting transactions, and theoretical models predict that transactions costs significantly affect the type of media of exchange buyers use. However, there is little empirical work documenting the magnitude of this effect. This paper uses grocery store scanner data to examine how time affects consumer choices of
Do Homeowners Know Their House Values and Mortgage Terms?
Brian Bucks , Karen Pence
Издател: Board of Governors of the Federal Reserve System
To assess whether homeowners know their house values and mortgage terms, we compare the distributions of these variables in the household-reported 2001 Survey of Consumer Finances (SCF) to the distributions in lender-reported data. We also examine the share of SCF respondents who report not knowing these variables. We find that most homeowners
The Road to Price Stability
Аtanasios Orphanides
Издател: Board of Governors of the Federal Reserve System
Nearly a quarter-century after Paul Volcker's declaration of war on inflation on October 6, 1979, Alan Greenspan declared that the goal had been achieved. Drawing on the extensive historical record, I examine the views of Chairmen Volcker and Greenspan on some aspects of the evolving monetary policy debate and explore some of the distinguishing
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