This work is a PhD dissertation, written at the Department of Economics, McGill University. The thesis offers a new framework for inflation as a process of restructuring. Contrary to existing theories of inflation, which tend to take structure and institutions as given for the purpose of...

We analyze the limit behavior of sequences of oligopolistic equilibria in which firms follow objectives consistent with their shareholders' interests. We show that the efficiency of the limit allocation depends on how firms' shares are distributed across consumers, and provide a characterization...

Using data from a large enterprise-level panel designed to address this issue, we account for enterprise performance in Russia. We link performance to four aspects of the economic environment outlined in the literature: enterprise ownership; corporate governance; market structures and competition;...

Because of the costs involved in such exercises, current productivity measures do not necessarily fully take into account changes in the quality of goods and services over time. This paper outlines the derivation of measures that lead to quantification of the “community preference for its...

The Two-Stage Least Squares (2-SLS) is a well known econometric technique used to estimate the parameters of a multi-equation (or simultaneous equations) econometric model when errors across the equations are not correlated and the equation(s) concerned is (are) over-identified or exactly...

This paper analyzes the dynamics of cost efficiency scores in the Spanish banking industry during the 1985—1995 period and the way in which such dynamics are influenced by specialization. Efficiency is estimated by a nonparametric approach, and a model of distribution dynamics has been applied...

In this article, we have used a stochastic frontier approach (SFA) in order to analyse the efficiency and determinants of the manufacturing firms from Central and Eastern Europe. The results reveal that firms from Poland, Czech Republic, Hungary have a higher efficiency than firms from Romania...

This paper analyzes the effect of intangible investment on firm efficiency with an emphasis on its software component. Stochastic production frontier approach is used to simultaneously estimate the production function and the determinants of technical efficiency in the software intensive...