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Optimal Speed of Transition: Micro Evidence from the Czech Republic

  • Stepan Jurajda
  • Katherine Terrell

We consider the growing theoretical literature on the optimum speed of transition (OST) and explore its validity using micro data from a transition economy. First, we ask whether the OST theories focus on the empirically most important job and worker reallocation flows. Second, we examine the relationship between these flows suggested by the theory. The empirical evidence from the Czech Republic appears to match the theory's prescriptions. It underscores the main policy implication of the Aghion and Blanchard (1994) model that early support for private job creation is the recipe for a successful transition.

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Paper provided by William Davidson Institute at the University of Michigan in its series William Davidson Institute Working Papers Series with number 355.

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Length: pages
Date of creation: 01 Dec 2000
Date of revision:
Handle: RePEc:wdi:papers:2000-355
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  1. Stepan Jurajda, 2000. "Gender Wage Gap and Segregation in Late Transition," William Davidson Institute Working Papers Series 306, William Davidson Institute at the University of Michigan.
  2. Lubomír Lízal & Jan Svejnar, 2001. "Financial Conditions and Investment during the Transition: Evidence from Czech Firms," William Davidson Institute Working Papers Series 399, William Davidson Institute at the University of Michigan.
  3. Zuzana Brixiova, 1997. "On the Speed of Transition in Central and Eastern Europe: Does On-the-Job Search Matter?," IMF Working Papers 97/102, International Monetary Fund.
  4. Vit Sorm & Katherine Terrell, 1999. "Sectoral Restructuring and Labor Mobility: A Comparative Look at the Czech Republic," William Davidson Institute Working Papers Series 273, William Davidson Institute at the University of Michigan.
  5. Steve J. Davis & John Haltiwanger, 1991. "Gross Job Creation, Gross Job Destruction and Employment Reallocation," NBER Working Papers 3728, National Bureau of Economic Research, Inc.
  6. Boeri, Tito, 2001. "Transition with Labour Supply," IZA Discussion Papers 257, Institute for the Study of Labor (IZA).
  7. Simon Johnson & Daniel Kaufman & Andrei Shleifer, 1997. "The Unofficial Economy in Transition," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 28(2), pages 159-240.
  8. Boeri, Tito & Burda, Michael C, 1995. "Active Labour Market Policies, Job Matching and the Czech Miracle," CEPR Discussion Papers 1302, C.E.P.R. Discussion Papers.
  9. Ruggerone, Luigi, 1996. "Unemployment and Inflationary Finance Dynamics at the Early Stages of Transition," Economic Journal, Royal Economic Society, vol. 106(435), pages 483-94, March.
  10. Andrew Atkeson & Patrick J. Kehoe, 1993. "Social Insurance and Transition," NBER Working Papers 4411, National Bureau of Economic Research, Inc.
  11. Castanheira, Micael & Roland, Gérard, 1996. "The Optimal Speed of Transition: A General Equilibrium Analysis," CEPR Discussion Papers 1442, C.E.P.R. Discussion Papers.
  12. Blanchard, Olivier Jean & Aghion, Philippe, 1994. "On the Speed of Transition in Central Europe," Scholarly Articles 4481322, Harvard University Department of Economics.
  13. Valentijn Bilsen & Jozef Konings, 1997. "Job Creation, Job Destruction and Growth of Newly Established, Privatized and State-Owned Enterprises in Transition Economies: Survey Evidence from Bulgaria, Hungary and Romania," William Davidson Institute Working Papers Series 106, William Davidson Institute at the University of Michigan.
  14. Alessandro Acquisti & Hartmut Lehmann, 1999. "Job Creation and Job Destruction in Russia: Some Preliminary Evidence from Enterprise-level Data," LICOS Discussion Papers 8499, LICOS - Centre for Institutions and Economic Performance, KU Leuven.
  15. Stefan Bojnec & Jozef Konings, 1998. "Job Creation, Job Destruction and Labour Demand in Slovenia," LICOS Discussion Papers 7498, LICOS - Centre for Institutions and Economic Performance, KU Leuven.
  16. Chadha, Bankim & Coricelli, Fabrizio, 1997. "Fiscal constraints and the speed of transition," Journal of Development Economics, Elsevier, vol. 52(1), pages 221-249, February.
  17. Burda, Michael C, 1992. "Unemployment, Labour Market Institutions and Structural Change in Eastern Europe," CEPR Discussion Papers 746, C.E.P.R. Discussion Papers.
  18. Vladislav Flek & Jiri Vecernik, 1998. "Employment and Wage Structures in the Czech Republic," Archive of Monetary Policy Division Working Papers 1998/03, Czech National Bank.
  19. Faggio, Giulia & Konings, Jozef, 1999. "Gross Job Flows and Firm Growth in Transition Countries: Evidence Using Firm Level Data on Five Countries," CEPR Discussion Papers 2261, C.E.P.R. Discussion Papers.
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