Arms investors with powerful new tools for measuring and managing the risks associated with the various illiquid asset classes With risk-free interest rates and risk premiums at record lows, many investors are turning to illiquid assets, such as real estate, private equity, infrastructure and...

A transition from a centrally planned to a market economy implies a massive reallocation of resources requiring realignments in relative prices, which may have important distributional effects. This paper examines the extent to which income differentials have changed in countries where bold...

Ukraine has made impressive progress in restructuring and stabilizing its economy over the past two years, and yet much remains to be done to revive output and establish a market economy. The 16 papers included in this volume, edited by Peter K. Cornelius and Patrick Lenain, were presented at a...