Macroeconomic models that are based on either the rational expectations hypothesis (REH) or behavioral considerations share a core premise: All future market outcomes can be characterized ex ante with a single overarching probability distribution. This paper assesses the empirical relevance of...

"This book originated from a 2010 conference marking the fortieth anniversary of the publication of the landmark "Phelps volume," Microeconomic Foundations of Employment and Inflation Theory, a book that is often credited with pioneering the currently dominant approach to macroeconomic analysis....

In this work, comprehensive comparative information on five former Soviet republics has been collected by teams of researchers from both within the region and from the West. Following an introduction to the economic environment in each country, it provides an overview of the privatization...

In this work, comprehensive comparative information on five Central European countries has been collected by teams of researchers from both within the region and from the West. Following an introduction to the economic environment in each country, it provides an overview of the privatization...

The authors of this treatise attempt to provide a deeper understanding of the economic and political transformations now taking place in Poland, Hungary and the Czech Republic. They build up a detailed picture of the privatization process in the retail trade, catering and more general services....