The studies in this two-volume work shed new light on the range and viability of the emerging corporate governance institutions in the transitional economies of Central Europe. Regional specialists and experts on corporate governance in advanced economies examine the emerging forms of ownership...

The studies in this two-volume work shed new light on the range and viability of the emerging corporate governance institutions in the transitional economies of Central Europe. Regional specialists and experts on corporate governance in advanced economies examine the emerging forms of ownership...

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 regularities with one model has been...

This paper introduces the Knightian Uncertainty Hypothesis (KUH), a new approach to macroeconomics and finance theory. KUH rests on a novel mathematical framework that characterizes both measurable and Knightian uncertainty about economic outcomes. Relying on this framework and John Muth's...

This paper proposes the Knightian Uncertainty Hypothesis (KUH), a new approach to macroeconomics and finance theory. KUH rests on a novel mathematical framework that characterizes both measurable and Knightian uncertainty about economic outcomes. Relying on this framework and Muth's pathbreaking...