Labour Market Policies in Transition Countries: An Austrian-Economic Assessment

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In almost all countries, the transition from a centrally planned economy to a market economy caused high unemployment. The governments attempted to ease the changeover to a market economy for the unemployed by introducing several passive and active labour market policies. This paper first points out which effects were to be expected of such policies from the perspective of Austrian Economics. These theoretical hypotheses are then tested empirically. It turns out that the hypotheses deducted from Austrian Economics theory are impressively corroborated by the empirical evidence.
Original languageEnglish
Pages (from-to)525-549
Number of pages25
JournalJournal des Economistes et des Etudes Humaines
Issue number4
Early online date1 Dec 2002
Publication statusPublished - 31 Dec 2002

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