Bundling of social and private goods and the soft budget constraint problem

Article Abstract:

The soft budgets of economies in transition from socialistic system to capitalistic system are discussed. The need to provide social goods along with private goods and the political need to bail out firms with financial problems are also discussed. The presence of soft budget prevents efficiency in private goods market. However, greater competition is likely to make matters even worse.

Government domestic functions, Budget, Budgets, Social policy, Markets (Economics), Communist countries, Free enterprise

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Convergence of price levels: lessons from the German reuinification

Article Abstract:

The relation between the price level convergence and inflation in a monetary union is analyzed. The reunification of Germany is considered for the justification. The findings of the study is used to understand the developments in Economic and Monetary Union acceding countries.

Inflation (Finance), Monetary unions, Price control, Price regulations, Inflation (Economics)

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Real and nominal stochastic convergence: are the new EU members ready to join the Euro zone?

Article Abstract:

The convergence requirements of European Economic and Monetary Union and the willingness of European Union member countries to comply with such convergence requirements are discussed.

Europe, Membership, European Monetary System, European monetary union

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