R Frydman, C Gray, M Hessel… - The Quarterly Journal …, 1999 - qje.oxfordjournals.org
Abstract This paper compares the performance of privatized and state firms in the transition
economies of Central Europe, while controlling for various forms of selection bias. It argues
that privatization has different effects depending on the types of owners to whom it gives ...
R Frydman, A Rapaczynski… - 1994 - getcited.org
An academic directory and search engine.
R Frydman, A Rapaczynski… - 1993 - getcited.org
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R Frydman - The American Economic Review, 1982 - JSTOR
I am far from denying that in our system equilibrium analysis has a useful function to perform.
But when it comes to the point where it misleads some of our leading thinkers into believing
that the situation which it describes has direct relevance to the solution of practical ...
R Frydman… - 1997 - papers.ssrn.com
Abstract: Data on mid-sized firms in three transition economies provide strong evidence that
private ownership-for worker ownership-improves corporate performance. And the privatized
firms' superior ability to generate revenues allows those firms to sustain or expand ...
R Frydman… - 1986 - books.google.com
Growing out of a conference on Expectations Formation and Economic Disequilibrium held
in New York City in 1981, the papers in this volume provide a complex view of market
processes in which individual rationality is no guarantee of convergence to the'correct' ...
R Frydman, A Rapaczynski,
JS Earle… - 1993 - getcited.org
An academic directory and search engine.
R Frydman, ES Phelps… - Economics of …, 1993 - Wiley Online Library
That enterprises are operated in the interests of the owners, approximately at any rate, is a
fundamental assumption in the classic efficiency argument for a market economy. Yet, in
actual capitalist economies, the enterprises are seldom owner-operated, the smallest ...
[CITATION] Corporate Governance in Central Europe and Russia: Banks, funds, and foreign investors
R Frydman, CW Gray… - 1996 - A Central European University Press …
R Frydman… - 1990 - econ.as.nyu.edu
This paper is designed to provide a systematic approach to the problem of privatization in
the context of Eastern European economies. The approach presented here will be"
systematic" in the sense of providing a theory of what privatization is supposed to ...
R Frydman… - 2007 - books.google.com
Posing a major challenge to economic orthodoxy, Imperfect Knowledge Economicsasserts
that exact models of purposeful human behavior are beyond the reach of economic analysis.
Roman Frydman and Michael Goldberg argue that the longstanding empirical failures of ...
JS Earle, R Frydman, A Rapaczynski… - 1994 - getcited.org
An academic directory and search engine.
R Frydman, K Pistor… - European Economic Review, 1996 - Elsevier
Mass privatization programs attempt to effect a global transformation of the economic and
political environment. Since specific designs of such programs are shaped by the necessity
to generate ex ante political support for a massive ownership transformation, they may ...
R Frydman, K Pistor, A Rapaczynski… - 1995 - Citeseer
1 The authors are grateful to the CEU Foundation and the World Bank for supporting
research on this paper. CV Starr Center for Applied Economics at New York University has
provided additional support for Roman Frydman's research. None of these institutions are ...
R Frydman, C Gray, M Hessel… - Economics of …, 2000 - Wiley Online Library
The existing literature on soft budget constraints suggests that firms may be subsidized for
political reasons or because of the creditors' desire to recover a part of the sunk cost
invested in an earlier period. In all these models hard budget constraints are viewed as ...
MD Goldberg… - The Economic Journal, 1996 - JSTOR
This paper explores the consequences of imperfect knowledge for exchange rate dynamics
within the monetary class of models. Our framework, which we call the theories consistent
expectations (TCE) framework, provides a particular formalisation of a world in which ...
R Frydman, M Hessel, A Rapaczynski… - 1998 - econ.as.nyu.edu
Barberis et al.(1996) is an exception. It presents empirical evidence suggesting that the
human capital effects 1 of privatization–selection of more skillful individuals to run firms–
might be more important than incentive effects. The authors caution, however, that their ...
JS Earle, R Frydman, A Rapaczynski - 1993 - cps.ceu.hu
Abstract Ten papers explore the hypothesis that the diversity in the formulation and
implementation of privatization policies in Eastern Europe and the former Soviet Union
stems from differences in the histories of these countries under socialism. Papers focus on ...
R Frydman, M Hessel… - 1999 - papers.ssrn.com
Abstract: This paper, based on a study of mid-sized firms in the Czech Republic, Hungary,
and Poland, seeks to explain the reasons behind the marked impact of ownership on firm
performance which has been observed in a number of studies in Eastern Europe and ...
[CITATION] Capitalism with a Comrade's Face
R Frydman, A Rapaczynski… - 1998 - Central European Univ. Press
R Frydman… - Economics of Transition, 1993 - Wiley Online Library
To understand the process of privatization in Eastern Europe it is critical to appreciate its
special significance in the historical context in which it is played out. Unlike in the West,
where providing revenues for the state budget was of paramount significance, ...
R Frydman, A Rapaczynski… - Economies in Transition. …, 1997 - books.google.com
Reports on the progress of transition in Eastern Europe have tended to assume that the
main goals of the process are well known and that the problems are mainly technical: how to
control inflation and reverse the output decline, how to introduce clear property rights, and ...
MD Goldberg… - International Journal of Finance & …, 2001 - Wiley Online Library
Despite the volumes written on the failure of empirical exchange rate models, there is a key
feature of the record that is much overlooked, namely there are some subperiods of floating
rates during which macroeconomic models provide reasonable explanations of monthly or ...
R Frydman - Individual Forecasting and Aggregate Outcomes, 1986 - books.google.com
In a series of studies, Hayek (19486, c, d) provided a profound analysis of market processes.
He argued that" the economic problem which society faces... is emphatically not" the
problem of economic calculus of individual choice." It is a problem of utilization of ...
R Frydman… - … Central and Eastern Europe: Roads to …, 1992 - econ.nyu.edu
Europe is that the industrial plant is technologically obsolete and the countries involved lack
many of the technical and managerial skills necessary to run a modern production process.
In addition, the absence of a rational price system causes great misallocations of ...
MD Goldberg… - Structural Change and Economic Dynamics, 1996 - Elsevier
This paper finds that many of the anomalies in the exchange rate literature can be explained
in large measure by recurrent shifts in the co-integrating vector. We find that the co-
integrating vector implied by a composite monetary model experiences parameter shifts ...
R Frydman… - The American Economic Review, 1987 - JSTOR
The New Classical approach to macroeconomics emphasizes the need to distinguish
between the effects on real output of rationally anticipated and unanticipated movements in
nominal variables. This modeling imperative displaced a generation of" Keynesian" ...
R Frydman… - Finance and Development, 1993 - elibrary.ru
Поиск в библиотеке, Расширенный поиск. ...
R Frydman, K Murphy… - 1998 - books.google.com
Analyses the turbulent transitions that have taken place in the post-communist world since
1989--91. Each chapter dissects institutional upheaval in transition central banking, the
trade union movement, capital markets, or corporate governance.
R Frydman… - Lessons from the Economic …, 1997 - books.google.com
In looking back at the experience of privatisation in the transition economies of Eastern
Europe, it becomes evident that the early thinking concerning the very role of privatisation
needs to be revisited. The assumption underlying much of that thinking was that firms in ...
R Frydman - Journal of Money, Credit and Banking, 1981 - JSTOR
The question of the effectiveness of monetary policy has become one of the most
controversial issues in macroeconomics in recent years. Sargent and Wallace [16]
demonstrated that, in a model in which prices are assumed to atdjust to clear markets ...
[CITATION] Imperfect knowledge expectations, uncertainty adjusted UIP and exchange rate dynamics
R Frydman… - Knowledge, Information and Expectations in Modern …, 2003
R Frydman, S Wellisz - Working Papers, 1990 - econpapers.repec.org
By Roman Frydman and Stanislaw Wellisz; THE OWNERSHIP-CONTROL STRUCTURE
AND THE BEHAVIOR OF POLISH ENTERPRISES DURING THE 1990 REFORMS:
MACROECONOMIC MEASURES. ... Roman Frydman and Stanislaw Wellisz. ...
R Frydman… - Capitalism and Society, 2008 - pubpages.unh.edu
Abstract We have recently proposed an alternative approach to economic analysis, which
we call Imperfect Knowledge Economics (IKE). Although IKE builds on the methodology of
contemporary macroeconomics by modeling aggregate outcomes on the basis of ...
S Johansen, K Juselius, R Frydman… - Journal of Econometrics, 2010 - Elsevier
This paper discusses the I (2) model with breaks in the deterministic component and
illustrates the model with an analysis of German and US prices, exchange rates, and interest
rates in the period 1975–1999. It provides new results on the likelihood ratio test of ...
R Frydman, GP O'Driscoll Jr… - Southern Economic Journal, 1982 - JSTOR
Muth advanced the rational expectations hypothesis that agents predict the value of
endogenous variables on the basis of the" relevant economic theory" of the phenomena in
question. As long as there is a unique relevant theory, no ambiguity exists as to what is a ...
M Goldberg, R Frydman… - 1991 - econ.nyu.edu
Abstract This paper develops a new approach to modeling exchange rate expectations that
brings the implications of the standard monetary models of the exchange rate more closely
in line with actual exchange rate experience. The approach extends the work Frydman ...
S Trimbath, H Frydman… - Review of Quantitative Finance and …, 2001 - Springer
This study, using the Cox proportional hazards model, finds that the risk of takeover rises
with cost inefficiency. It also finds that a firm faces a significantly higher risk of takeover if its
cost performance lags behind its industry benchmark. Moreover, these findings appear to ...
C Bull… - Journal of money, credit and banking, 1983 - JSTOR
THE LUCAS SUPPLY FUNCTION has played a fundamental role in the formulation of
macroeconomic models under rational expectations. The demonstration by Sargent and
Wallace [25] that any systematic monetary policy will have no impact on the time path of ...
R Frydman… - 2011 - books.google.com
In the wake of the global financial crisis that began in 2007, faith in the rationality of markets
has lost ground to a new faith in their irrationality. The problem, Roman Frydman and
Michael Goldberg argue, is that both the rational and behavioral theories of the market ...
R Frydman… - Capitalism and Society, 2009 - econ.nyu.edu
Abstract The paper makes use of an Imperfect Knowledge Economics (IKE) approach to
examine the rationale and scope of state intervention in asset markets. IKE recognizes that
policy officials and market participants must cope with everYimperfect knowledge of the ...
R Frydman - Econometrica: Journal of the Econometric Society, 1980 - JSTOR
A number of estimators of parameters in nonlinear models have been proposed in the
econometric literature. Various specialized methods have been developed to demonstrate
the consistency of the suggested estimators. The first part of this paper presents a general ...
[CITATION] Andrzej Rapaczynski, eds. 1996
R Frydman… - Corporate Governance in Central Europe and Russia
[CITATION] The privatization process in Russia
R Frydman, A Rapaczynski… - Ukraine and the Baltic States, 1993
[CITATION] Private ownership and corporate performance
R Frydman - 1997
[CITATION] Pluralism of theories problems in post-rational-expectations modeling
R Frydman… - Siena Summer Workshop on” Expectations and …, 1990
[CITATION] Ownership, restructuring and performance of enterprises in Central Europe
R Frydman, M Hessel… - st International Workshop on Transition and …, 1998
J Earle, R Frydman… - Privatization in the Transition to a …, 1993 - cps.ceu.hu
@inbook {,. title = {Privatization policies in Eastern Europe: diverse routes to a market
economy},. booktitle = {Privatization in the transition to a market economy: Studies of
preconditions and policies in Eastern Europe},. year = {1993},. ...
JS Earle, R Frydman, A Rapaczynski… - The new Europe: …, 1993 - cps.ceu.hu
@inbook {,. title = {Notes on voucher privatization in Eastern Europe},. booktitle = {The new Europe:
Evolving economic and financial systems in East and West},. year = {1993},. note = {Notes on
Voucher Privatization in Eastern Europe; Collective Volume Article},. month = {1993// ...
M Flandreau, O Issing, S Kaufmann… - Monetary Unions: …, 2003 - books.google.com
The continent has finally embarked into monetary union. For years, the project has led to
extensive debates among money doctors. In the Old World, some have recommended it as
the only solution to avoid re-enacting Europe's tragic twentiethcentury story, with its deadly ...
[CITATION] Individual Forecasting and Aggregate Outcomes:" Rational Expectations" Examined
ES Phelps… - 1986 - Cambridge University Press
[CITATION] Transition policies and the establishment of a private property regime in eastern Europe
JS Earle, R Frydman… - 18th Panel meeting of Economic Policy in …, 1993
[CITATION] The Privatisation Process in Central Europe
J Earle, R Frydman… - 1993 - Budapest: Central European …
R Frydman… - … : Historical Perspectives and Prospects for the …, 2004 - cgu.edu
The authors are grateful to the Nathan Cummings Foundation, the Alfred P. Sloan
Foundation and the CV Starr Center for Applied Economics at New York University for
support of this research. Responsibility for the ideas and opinions presented in this paper ...
[CITATION] Mass privatization proposals in Eastern Europe: ownership and structure of control
R Frydman… - Privatization in Europe, 1992
P Aghion, R Frydman, J Stiglitz… - … , and Expectations in …, 2003 - econweb.tamu.edu
It is not easy to summarize Ned Phelps's monumental contribution to economics. A first
impression is likely to be of a vast array of original concepts and models: the “natural rate of
unemployment” and the expectations-augmented Phillips curve (1967, 1968, 1971), the “ ...
[CITATION] „Corporate governance in an insider-dominated economy: a report on Russia “
R Frydman, K Pistor… - Economics of Transition, 1995
R Frydman, S Wellisz… - 1990 - socionet.ru
[CITATION] Investing in insider-dominated firms: A study of voucher privatization funds in Russia
R Frydman, K Pistor, A Rapaczynski… - 1995 - Oesterreichische Nationalbank
R Frydman, S Wellisz… - Papers, 1991 - ideas.repec.org
No abstract is available for this item. ... To our knowledge, this item is not available for
download. To find whether it is available, there are three options: 1. Check below under "Related
research" whether another version of this item is available online. 2. Check on the ...
R Frydman, MD Goldberg, S Johansen… - Discussion …, 2008 - papers.ssrn.com
Abstract: Asset prices undergo long swings that revolve around benchmark levels. In
currency markets, fluctuations involve real exchange rates that are highly persistent and that
move in near-parallel fashion with nominal rates. The inability to explain these two ...
[CITATION] Notes on Banking Reform in Eastern Europe
R Frydman, E Phelps, A Rapaczynski… - 1992 - mimeo, EBRD
[CITATION] Edmund Phelps, eds.(1983)
R Frydman - Individual Forecasting and Aggregate Outcomes
[CITATION] The Privatization in Central Europe
R Frydman, A Rapaczynski, JS Earle - 1993 - Central European University Press, …
[CITATION] Evolution of the Hungarian capital market: the Budapest stock exchange
K Meszaros,
JS Earle… - Privatization in the …, 1993 - Pinter Publishers London
[CITATION] Small privatization: Transformation of retail trade and service sectors in Poland, Hungary and the Czech Republic
J Earle, R Frydman, A Rapaczynski… - 1994 - New York: Central European …
R Frydman, A Rapaczynski,
J Earle… - Privatization in Eastern …, 1994 - cps.ceu.hu
@inbook {,. title = {Ambiguity of privatization and the paths of transition to a private
property regime},. booktitle = {Privatization in Eastern Europe: Is the state withering
away?},. year = {1994},. note = {Ambiguity of Privatization and ...
S Trimbath, H Frydman, R Frydman… - 2000 - milkeninstitute.org
Abstract The present study, using the Cox proportional hazard model, suggests a firm faces
a significantly higher risk of takeover if its cost performance lags behind its industry
benchmark. The effects of variables capturing cost inefficiency on the risk of takeover ...
R Frydman… - FT. com, 2009 - econ.iastate.edu
Confidence seems to be returning to markets almost everywhere, but the debates about
what caused the worst crisis since the Great Depression show no sign of letting up. Instead,
the spotlight has shifted from bankers, financial engineers and regulators to economists ...
[CITATION] The Privatisation Process in Central Europe: Economic Environment, Legal and Ownership Structure, Institutions for State Regulation, Overview of …
J Earle, R Frydman… - 1993 - CEU Privatization Reports
R Frydman, A Rapaczynski,
JS Earle… - 1994 - cps.ceu.hu
Skip to Navigation. Home. Search this site: Alumni & Careers; Prospective Students;
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R Frydman - Individual Forecasting and Aggregate Outcomes:' …, 1986 - books.google.com
A number of investigators have recently argued that learning and convergence to rational
expectations equilibrium are problematic. 1 These results suggest that despite the great
popularity of minimum mean square error forecasts and the associated notion of the ...
R Frydman - 1988 - ideas.repec.org
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[CITATION] Corporate Governance in Transition
R Frydman, C Gray… - 1996 - Central European University Press, …
[CITATION] Transition Politics and the Establishment of a Private Property Regime, paper presented at the Economic Policy panel in Brussels
J Earle, R Frydman… - 1993 - October
R Frydman - Working Papers, 1986 - econpapers.repec.org
... EconPapers has moved to http://EconPapers.repec.org! Please update
your bookmarks. Are the Cross-Equation Restrictions Imposed in the
Rational Expectations Models Valid? Roman Frydman. ...
[CITATION] Katarina Juselius (2010a),“Why REH Bubble Models Do Not Adequately Account for Swings?”
R Frydman, MD Goldberg… - mimeo
[CITATION] Corporate governance in Central Europe and Russia. Volume 1. Banks, funds, and foreign investors
R Frydman, CW Gray… - Journal of …, 1998 - Nashville [etc.]: American Economic …
MD Goldberg… - Working Papers, 1993 - econpapers.repec.org
By MD Goldberg and R. Frydman; Qualitative Rationality and
Behavior in the Foreign Exchange Market.
[CITATION] The Privatisation process in the Republics of the Former Soviet Union
R Frydman, A Rapaczynski, JS Earle - CEU Privatisation Reports
[CITATION] others, 1997
R Frydman, CW Gray, M Hessel… - Private Ownership and Corporate …
[CITATION] Is privatisation working
R Frydman… - Open Society News, 1994
[CITATION] Investing in Insider-Dominated Firms: A Study of Russian Voucher Privatization Funds
K Pistor, R Frydman… - World Bank, Transition Economics Department, 1994
[CITATION] Forthcoming,''Why Ownership Matters. Entrepreneurship and the Restructuring of Enterprises in Central Europe''
R Frydman, M Hessel… - Corporate Governance Lessons for Transition …
R Frydman… - … conference in honor of Edmund S. …, 2001 - pubpages.unh.edu
Abstract The primary purpose of this paper is to o¤ er an alternative approach to modeling
expectations that recognizes the importance of imperfect knowledge and yet preserves the
postulate of individual rationality. Our formulation of individual expectations, called ...
[CITATION] others, 1997," Private Ownership and Corporate Performance: Some Lessons from Transition Economies,"
R Frydman - Policy Research Working Paper, 1830
[CITATION] The Privatization Pmeess in Russia, Ukraine, and the Baltic Countries
R Frydman, A Rapaczynksi… - 1993 - Budapest, Central European …
K Juselius, S Johansen, R Frydman… - … for a special issue of the …, 2008 - math.ku.dk
Abstract This paper discusses a number of likelihood ratio tests on long&run relations and
common trends in the I (2) model and provide new results on the test of overidentifying
restrictions on ß/xt and the asymptotic variance for the stochas& tic trends parameters, a± ...
R Frydman… - Working Papers, 1985 - ideas.repec.org
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R Frydman… - 1983 - econ.as.nyu.edu
The significant point here is that it is these apparently subsidiary hypotheses or assumptions
that people do learn from experience, and about how they acquire knowledge which
constitute the empirical content of our propositions about what happens in the real world. ...
R Frydman… - prepared for the conference “ …, 2010 - capitalism.columbia.edu
Modern macroeconomics constructs models of aggregate outcomes on the basis of
mathematical representations of individual decision making, with market participants'
forecasting behavior lying at the heart of the interaction between the two levels of analysis. ...
R Frydman… - 2003 - archive.nyu.edu
Abstract: Models using the Rational Expectations Hypothesis (REH) are widely recognized
to be inconsistent with the observed behavior of premia in financial markets, as well as other
features of asset price dynamics. Moreover, many reasons have been advanced as to why ...
[CITATION] Rapaczynski Andrzej
F Roman… - Corporate governance in Central
[CITATION] Private Ownership and Corporate Performance: Some Lessons from Transitional Economies: Research Report 97-28
R Frydman, C Gray, M Hessel… - CV Starr Centre for Applied …, 1997
[CITATION] Katarina Juselius (2010b),“Imperfect Knowledge and Long Swings in Currency Markets,”
R Frydman, MD Goldberg… - mimeo
[CITATION] Rapaczynski, Andrzej eds
R Frydman… - Corporate Governance in Central Europe and Russia. …
[CITATION] The Ownership Control Structure and the Behavior of Polish Enterprises
R FRYDMAN… - 1990 - Discussion Paper 432. Columbia …
[CITATION] Edmund. S. Phelps (1983),“Introduction” in Frydman, Roman and Edmund S. Phelps (eds.), Individual Forecasting and Aggregate Outcomes:“Rational …
R Frydman - New York: Cambridge University …
R Frydman… - Working Papers, 1983 - ideas.repec.org
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further problems read the IDEAS help page. Note that these files are not on the IDEAS site ...
[CITATION] Andrzej Rapaczynski, editors. 1996
R Frydman… - Corporate Governance in Central Europe and Russia
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