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August 1998, Vol. 121, No. 8
Robert J. Gitter
Professor of Economics, Ohio Wesleyan University, Delaware, Ohio
Economist at the Rheinisch-Westfalisches Institut für Wirtschaftsforschung, Essen, Germany.
The Czechs have wrought numerous accomplishments in transforming their country to a market economy; declining employment and labor force participation rates, however, blur the overall picture. This article explores the reasons behind the highly touted "miracle" of low unemployment during and after that nations economic transformation from a centrally planned to a more market-oriented economy.
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