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Chicago Fed Letter, No. 33, May 1990
The Return of Central Europe

The nations of Central Europe are bent on returning to the economic fold of the West. With no precedent on which to rely, economists have been working overtime to assess the long-term promise, and the short- and mid-term problems and costs of this transition.

Unfortunately, most of the available income-related statistics are dubious. Furthermore, national income statistics for these countries are not comparable in their form to those of the West.

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