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Herrala, Risto - EconWPA - 2004

We study the basic economic problem of choice between long-term and short-term commitments under a general characterization of uncertainty (aggregate uncertainty). When contingencies are contractible, a perfect market of Arrow-Debreau contingent claims implements the social optimum. When...

Persistent link: https://www.econbiz.de/10005561581

La puissance publique promoteur de nouveaux modèles d’aide à la décision de financement

Levratto, Nadine; Paranque, Bernard - EconWPA - 2004

This paper aims at showing how the state may be an example in evaluation firms' quality. We develop this idea referring to a concrete experimental tool developed by the French Small Business Administration.

Persistent link: https://www.econbiz.de/10005134732

Inter-Firm Non-Monetary Transactions in Russia: A Literature Review

Richard B. Goud Jr. - EconWPA - 2002

, etc.) in Russia since the fall of Communism. The two primary theories are the credit crunch (liquidity constraint) theory …

Persistent link: https://www.econbiz.de/10005407675

Money, Barter and Inflation in Russia

Kim, Byung-Yeon; Pirttilä, Jukka; Rautava, Jouko - EconWPA - 2002

Using a macroeconometric framework, this paper analyses relationships among money, barter and inflation in Russia … to capture all the relevant information for inference on money and inflation in Russia. …

Persistent link: https://www.econbiz.de/10005412642

A Crise Financeira Russa

Pinto, Bruno José Marques; Vilela, Thais Machado de Matos - EconWPA - 2005

Fundamental sources of the Russian financial crisis in 1998 are discussed. Focus is made on the time horizon of judgements concerning sustainability of the economic policy. It is argued that the macroeconomic policy pursued by the monetary authorities was not robust in a medium run, but, in the...

Persistent link: https://www.econbiz.de/10005412647

Railway Competition: Options for the Russian Federation

Pittman, Russell - EconWPA - 2001

In its first steps toward reform of its huge and hugely important railway system, the Russian Federation has begun corporate restructuring of a kind favored by many students of railway reform throughout the world: some kind of separation of the entity controlling the infrastructure from the...

Persistent link: https://www.econbiz.de/10005412919

One Asset, Two Prices: The case of the Tsarist Repudiated Bonds

Oosterlinck, Kim; Szafarz, Ariane - EconWPA - 2004

Prices of repudiated bonds are insightful but scarcely observed. Based on an original daily database, this paper compares the price evolution from January 6, 1916 to August 31, 1919 of a cross-listed (Paris and London) Tsarist bond repudiated by the Soviets on February 8, 1918. After its...

Persistent link: https://www.econbiz.de/10005076557

A Preliminary Evaluation of Monetary Policy Rules for Russia

Souza, Lucio Vinhas de - EconWPA - 2004

The paper reviews the recent conduct of monetary policy and the central bank’s rule-based behavior in Russia. Using … different policy rules, we test whether the central bank in Russia reacts to changes in inflation, output gap and the exchange … rate in a consistent and predictable manner. Our results indicate that during the period of 1993-2002 the Bank of Russia …

Persistent link: https://www.econbiz.de/10005076844

A Note on Non-Discriminatory Access to Railroad Infrastructure

Pittman, Russell - EconWPA - 2003

The setting of user prices for enterprises with large fixed costs and marginal costs below average costs – “natural monopolies” – raises important policy questions regarding both efficiency and equity. It has become well accepted among economists that, in a variety of settings, welfare...

Persistent link: https://www.econbiz.de/10005076868

A MESSAGE TO GORBACHEV:REDISTRIBUTE THE WEALTH

Feige, Edgar L. - EconWPA - 2005

The transition from a planned to a market oriented economy requires a complex amalgam of stabilization, liberalization and privatization policies. This paper outlines a combination of policies believed to be necessary, if not sufficient to enlist the efficiency of market mechanisms along with a...

Persistent link: https://www.econbiz.de/10005062463