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...

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'...

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...