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ISET Economist Blog

A blog about economics in the South Caucasus.
Mar
15

Equal Rights Are Not Just for Women: Are We Ready for New Paternity Leave Policies in Georgia?

The following blog article was conceived of within the deliberations of a project, together with UNFPA, related to the cost assessment of potential changes to the leave policies of working parents. Admittedly, like the majority of the population, I had no idea that men in Georgia have the opportunity to take leave intended for childcare. It is a fact that since 2011 the number of fathers who have taken “childcare” leave can be counted on just two hands (including the ISET Alumnus, Giorgi Balakhashvili). As a future father this topic proves to be particul...
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Mar
13

How to Prevent the Tobacco Law from Going Up in Smokes?

BACKGROUND After a hike in excise tax on cigarettes in January 2017, Parliament of Georgia is going to introduce legislative changes to the existing tobacco control law (TCL) in March. Since its enactment in 2003, TCL has been modified several times. However, the recently proposed changes can be considered the most radical step towards a tobacco-free society in Georgia. New draft law comprehensively covers production, packaging, marketing, advertising, selling and consumption of tobacco, and other activities of tobacco businesses. The main changes can be...
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Recent Comments
Eric Livny
Sir Humphrey Appleby is a straight shooter! Adorable!!!!
Tuesday, 14 March 2017 2:02 PM
Simon Appleby
Good work Giorgi.Something you did not mention is the long-term effect on the public health system and the public pension.As indiv... Read More
Tuesday, 14 March 2017 11:11 AM
Giorgi Mzhavanadze
Thanks for your comment, Simon.I totally agree with you on necessity to assess/review long-term effects on the public health syst... Read More
Wednesday, 15 March 2017 11:11 AM
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Oct
19

ISET Consumer Confidence: Anticipation Beats Realization

The CCI, which is computed by ISET-PI on a monthly basis, monitors how Georgians feel about their personal financial situations and the economic well-being of the whole country. Roughly speaking, the index is computed as the difference between the frequencies of positive and negative answers to 12 questions covering the present and expected economic situations of the households surveyed, as well as general economic parameters of the country, such as inflation and unemployment. It ranges from −100, a result that would follow if all respondents answered al...
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Sep
20

ISET’s Consumer Confidence Index Shoots through the Roof

In September 2016, ISET’s Consumer Confidence Index added 13 points, the single largest monthly increase in the Index since its launch more than 4 years ago. Having risen from -28.7 to -15.7 points, the CCI rebounded to levels we have last observed about two years ago, in fall 2014 (i.e. at the outset of the GEL devaluation drama). Both the Expectations and Present Situation components of the CCI soared (up by 11.1 and 14.9 points, respectively), breaking historical records for monthly increases. On the one hand, the latest improvement in the CCI extends...
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Sep
06

Homo Economicus Sisyphus

In the last two decades, happiness has moved into the focus of economic inquiry. Frey and Stutzer (“What can Economists Learn from Happiness Research”, Journal of Economic Literature 20, 2002, pp. 402-435) argue convincingly that gross domestic product (GDP), unemployment, inflation, and many other indicators of economic performance are primarily interesting because they are correlated with the well-being of people. Without the assumption that these parameters are proxies for happiness, there would be no reason to pursue economic policies that maximize i...
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Guest — MartinSmith
A beautiful piece of explanation. Since four years... is not said: for the last four years is how this clause should read. I wil... Read More
Thursday, 08 September 2016 1:01 AM
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Sep
05

Georgian Pension Reform – an Experiment in Libertarian Paternalism?

Starting from October 1, 2017, a private retirement savings system will be launched in Georgia as part of a broader pension reform. This reform has been discussed by Nino Doghonadze and Yaroslava Babych in Decent Income in Old Age: Georgian Dream or Reality? on the ISET Economist. Today we will focus only on one very interesting aspect of the reform – the “opt-out” principle and its implementation in the Georgian realities. WHAT’S IN THE “OPT-OUT”? The proposed private retirement savings system is based on the “opt-out” principle, according to which...
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Eric Livny
A very good point about timing, Simon! Indeed, combined with the corporate tax reform, the pension reform has better chances of pa... Read More
Sunday, 17 April 2016 2:02 PM
Simon Appleby
The pension reform is inspired by the systems used in Australia, Hong Kong and Chile. In each case, they are mandatory systems wit... Read More
Sunday, 17 April 2016 8:08 AM
Simon Appleby
In other jurisdictions, government makes no grants at all to private pension funds (unless talking about mandated employer contrib... Read More
Sunday, 17 April 2016 3:03 PM
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