National Bank of Hungary paper assesses input distortions in CEE countries


A National Bank of Hungary paper published on Tuesday says distortions in the labour and capital markets of central and eastern European countries are not significantly larger than those in advanced economies.

Istvan Konya, the paper's author, uses a stochastic neoclassical growth model to investigate the growth and convergence experience of three central and eastern European economies – the Czech Republic, Hungary and Poland. Konya attempts to uncover distortions, or wedges, on the labour and

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