US-China Trade War of 2018 and Its Consequences
The trade war between the United States and China has become one of the main events in the global economy this year. What could be its consequences for the US and China, and how might it affect other countries – for example, Russia? Chronology of the trade war Donald Trump started the war, raising import...
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Money Laundering: Regulatory or Political Capture?
Danske Bank has recently been accused of having laundered more than 200 billion Euros through its Estonian branch. The size of the scandal has reinvigorated the discussion over lax enforcement by regulators and poor bank compliance with anti-money laundering laws. In this brief, we concisely review some recent cases of poor regulatory and political behaviour...
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Unemployment in Transition and Its Long-term Consequences
We examine the relationship between the experience of unemployment in the early years of the socio-economic transition in Poland and a number of wellbeing measures about two decades later. The analysis takes advantage of the rich content of data from the Survey of Health, Ageing and Retirement in Europe (SHARE) by matching retrospective information on...
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Managing Relational Contracts
A wide range of important economic activities depend on self-enforcing informal “relational” contracts. For instance, a firm may buy a good knowing that it cannot sue the other firm if the quality is low – instead high quality is maintained through threat of the firm not making any future purchases. Relational contracts are typically modeled...
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Towards a More Circular Economy: A Progress Assessment of Belarus
This policy brief summarizes the results of our study, Shershunovich and Tochitskaya (2018), on the circular economy development in Belarus. The aim of the work was to measure the circularity of the Belarusian economy using European Commission indicators. The analysis reveals that the circular economy in Belarus is still in the initial stage of its...
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