Underlying the existence of macroeconomics as a separate field of study are the phenomena of economy-wide fluctuations of output and prices, and sometimes persistent high levels of unemployment. Two basic views of macroeconomic behavior have persisted even as conceptual innovati ons and the...

Privatization of state assets is an essential step to the creation of a viable private sector in the formerly socialist economies of Eastern Europe and the Soviet Union. A standard approach to the problem has rapidly emerged. Small firms are being privatized by sale very rapidly. The strategy...