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An evaluation of the success of the hungarian economic reform: An analysis using international-trade data

The behavior of centrally planned economies (CPE's) will markedly differ from that of market economies (ME's). Tests of the success of decentralizing reforms in Hungary are based on comparing the behavior of post-reform Hungary to CPE's and ME's at similar levels of development. The basis of comparison is the pattern of comparative advantage. Discriminant analysis is used to examine whether there are significant differences between CPE's and ME's. The discriminant function, a linear function of the comparative advantages, is then used to classify pre- and post-reform Hungary. The results indicate that the reform has been effective.     

R/S analysis of foreign exchange rates under two international monetary regimes

The purpose of this study is to examine empirically the behavior of foreign exchange markets during the most recent experiences with fixed and flexible rates. Specifically, this study explores the possibility that long-term dependence is present in the exchange rate series for the British pound, French franc, and German mark in terms of the U.S. dollar. Using R/S analysis, positive long-term dependence is uncovered for each exchange rate during the flexible regime but negative dependence is found in the fixed period.     

IX. Geld und kapital

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