Production function estimates are provided for Soviet production and gross national product for the period 1950-86. A variety of alternative specifications is tested, including Cobb-Douglas, constant elasticity of substitution and variable elasticity of substitution production functions, and an...

In recent discussion of the transition from a planned to a market economy it has been suggested that the queuing costs associated with excess demand represent a deadweight welfare loss. A simple model of the planned economy is developed and used to explain why the planners might choose to permit...

Privatisation Vouchers in Russia were heavily invested in the holders' own firms. Using data from a recent survey, we show that insider control in firms privatised in 1992-4 through the voucher process (as distinct from the earlier leased buy-out method) is insecure and dependent on managers'...

Privatisation Vouchers in Russia were heavily invested in the holders' own firms. Using data from a recent survey, we show that insider control in firms privatised in 1992-4 through the voucher process (as distinct from the earlier leased buy-out method) is insecure and dependent on managers'...