Acta Oeconomica is a Q3-level quarterly periodical of the Hungarian Academy of Sciences. Since its foundation in 1966, it has been the leading English-language scientific journal of economists working on Central and Eastern Europe. We publish papers on East European and Hungarian transition, theoretical and general issues of the transition process, economic policy, econometric methods and economic modelling. Space is also devoted to international economics, European integration, labour economics and welfare, industrial organisation, competition and regulation, finance and business economics. The journal has been operating fully in line with international academic standards, requiring original, unpublished research and double-blind peer reviews. Acta Oeconomica prefers articles based on quantitative analysis, but high-quality papers using verbal argumentation are also welcome.