Roman Frydman | Academic Influence

Roman Frydman's AcademicInfluence.com Rankings

Roman Frydman

Economics

#623

World Rank

#758

Historical Rank

#362

USA Rank

Financial Economics

#68

World Rank

#68

Historical Rank

#22

USA Rank

Macroeconomics

#130

World Rank

#139

Historical Rank

#63

USA Rank

economics Degrees

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Economics

Roman Frydman's Degrees

PhD Economics University of California, Berkeley
Masters Economics University of California, Berkeley
Bachelors Economics University of California, Berkeley

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Why Is Roman Frydman Influential?

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According to Wikipedia, Roman Frydman is an American, Polish born economist at New York University and the author of more than ten books treating macroeconomic theory and privatization. Frydman's research, exemplified by his two recent books with Michael D. Goldberg, Imperfect Knowledge Economics: Exchange Rates and Risk and Beyond Mechanical Markets: Asset Price, Swings, Risk, and the Role of the State , argues that markets cannot be predicted accurately by deterministic optimization models, particularly models promoted by adherents of the rational expectations hypothesis. Rather, Frydman argues that predictive models must take into account the role of contingent events, irrationality, imperfect knowledge and communication among the market participants. "Imperfect Knowledge Economics" presents a model that many critics have described as not only more flexible, but also more predictive of empirical events.

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Roman Frydman's Published Works

Number of citations in a given year to any of this author's works

Total number of citations to an author for the works they published in a given year. This highlights publication of the most important work(s) by the author

Published Works

The Theory and Practice of Econometrics (1981) (3684)
When Does Privatization Work? The Impact of Private Ownership on Corporate Performance in the Transition Economies (1999) (784)
Imperfect Knowledge Economics: Exchange Rates and Risk (2007) (271)
Privatization in Eastern Europe. Is the State Withering Away (1994) (217)
Private Ownership and Corporate Performance: Some Lessons from Transition Economies (1997) (153)
Towards an Understanding of Market Processes: Individual Expectations, Market Behavior and Convergence to Rational Expectations Equilibrium (1981) (150)
The Privatization Process in Central Europe (1993) (134)
Needed mechanisms of corporate governance and finance in Eastern-Europe' (1993) (124)
Individual Forecasting and Aggregate Outcomes: 'Rational Expectations' Examined (1987) (105)
Individual Forecasting and Aggregate Outcomes (1985) (102)
Beyond Mechanical Markets: Asset Price Swings, Risk, and the Role of the State (2011) (100)
Corporate Governance in Central Europe and Russia (1996) (91)
Corporate Governance in Russia: An Initial Look (1996) (82)
The Limits of Discipline: Ownership and Hard Budget Constraints in the Transition Economies (1999) (80)
Testing hypotheses in an I(2) model with piecewise linear trends. An analysis of the persistent long swings in the Dmk/$ rate (2010) (77)
Exit and voice after mass privatization: The case of Russia (1996) (75)
Imperfect knowledge and behaviour in the foreign exchange market (1996) (75)
Investing in Insider-Dominated Firms: A Study of Russian Voucher Privatization Funds (1994) (74)
Rethinking Expectations: The Way Forward for Macroeconomics (2013) (72)
Macroeconomic Theory for a World of Imperfect Knowledge (2008) (71)
Small Privatization: The Transformation of Retail Trade and Consumer Services in the Czech Republic, Hungary, and Poland (1994) (63)
Why Ownership Matters? Entrepreneurship and the Restructuring of Enterprises in Central Europe (1998) (63)
Macroeconomic fundamentals and the DM/$ exchange rate: Temporal instability and the monetary model (2001) (62)
Convergence to rational expectations equilibrium (1984) (52)
Why Ownership Matters?: Politicization and Entrepreneurship in the Restructuring of Enterprises in Central Europe (1998) (52)
Empirical exchange rate models and shifts in the co-integrating vector (1996) (51)
MANAGEMENT OWNERSHIP AND RUSSIAN PRIVATIZATION (1996) (51)
Individual Rationality, Decentralization and the Rational Expectations Hypothesis (1982) (48)
Capitalism with a Comrade's Face (1998) (43)
Testing Hypotheses in an I(2) Model with Applications to the Persistent Long Swings in the Dmk/$ Rate (2008) (38)
Privatization in the Transition to a Market Economy: Studies of Preconditions and Policies in Eastern Europe (1993) (36)
MARKETS AND INSTITUTIONS IN LARGE SCALE PRIVATIZATIONS-AN APPROACH TO ECONOMIC AND SOCIAL TRANFORMATIONS IN EASTERN EUROPE (1990) (36)
The privatization process in Russia, Ukraine and the Baltic States : economic environment, legal and ownership structure, institutions for state regulation, overview of privatization programs, initial transformation of enterprises (1993) (34)
Insiders and the state: overview of responses to agency problems in East European privatizations (1993) (31)
Rational Expectations of Government Policy: An Application of Newcomb’s Problem (1980) (30)
A Resolution of the Purchasing Power Parity Puzzle: Imperfect Knowledge and Long Swings (2008) (30)
Is the Distinction between Anticipated and Unanticipated Money Growth Relevant in Explaining Aggregate Output (1987) (29)
Opening Models of Asset Prices and Risk to Non-Routine Change (2010) (29)
4. The Imperfect Knowledge Imperative in Modern Macroeconomics and Finance Theory (2013) (28)
Financial Markets and the State: Long Swings, Risk, and the Scope of Regulation (2009) (26)
Beyond Mechanical Markets (2017) (24)
Review: Celebrating Ned Reviewed Work(s): Knowledge, Information, and Expectations in Modern Macroeconomics: In Honor of Edmund (2007) (24)
Capitalism with a comrade's face : studies in the postcommunist transition (1998) (24)
Cost Inefficiency, Size of Firms and Takeovers (2001) (23)
A proof of the consistency of maximum likelihood estimators of nonlinear regression models with autocorrelated errors. (1980) (23)
Change and expectations in macroeconomic models: recognizing the limits to knowability (2013) (23)
Privatization and Corporate Governance in Eastern Europe: Can a Market Economy Be Designed? (1991) (22)
Which Way Forward for Macroeconomics and Policy Analysis (2013) (21)
Theories, Consistent Expectations and Exchange Rate Dynamics (1993) (19)
Knightian Uncertainty and Stock-Price Movements: Why the REH Present-Value Model Failed Empirically (2015) (19)
Sluggish Price Adjustments and the Effectiveness of Monetary Policy under Rational Expectations: A Comment (1981) (19)
6. Opening Models of Asset Prices and Risk to Nonroutine Change (2013) (18)
Fundamental factors and extrapolation in stock-market expectations: The central role of structural change (2018) (17)
A Reply [The Derivation and Interpretation of the Lucas Supply Function] (1983) (16)
The Knightian Uncertainty Hypothesis: Unforeseeable Change and Muth’s Consistency Constraint in Modeling Aggregate Outcomes (2019) (13)
THE OWNERSHIP-CONTROL STRUCTURE AND THE BEHAVIOR OF POLISH ENTERPRISES DURING THE 1990 REFORMS: MACROECONOMIC MEASURES AND MICROECCONOMIC RESPONSE (1990) (12)
The Qualitative Expectations Hypothesis: Model Ambiguity, Consistent Representations of Market Forecasts, and Sentiment (2017) (12)
Corporate governance and the political effects of privatisation (1997) (11)
Evolution and Design in the East European Transition (1994) (11)
Insiders and the State (1994) (10)
The privatization process in Central Europe : economic environment, legal and ownership structure, institutions for state regulation, overview of privatization programs, initial transformation of enterprises (1993) (9)
Eastern European experience with small-scale privatization : a collaborative study with the Central European University privatization project (1994) (9)
How Market Sentiment Drives Forecasts of Stock Returns (2020) (9)
Stabilization in Poland: A Progress Report (1991) (9)
Change and Rationality in Macroeconomics and Finance Theory: A New Rational Expectations Hypothesis (2015) (8)
Imperfect Knowledge Expectations, Uncertainty Premia and Exchange Rate Dynamics (2001) (7)
Corporate Inefficiency and the Risk of Takeover (2000) (6)
Banks, funds, and foreign investors (1996) (6)
The Limits of Discipline (1999) (6)
Long Swings in Currency Markets : Imperfect Knowledge and I ( 2 ) Trends (2012) (5)
Diversity of Information, Least Squares Learning Rules, and Market Behavior (1988) (5)
Round table: Obstacles to the establishment of a market for corporate control (1995) (5)
Notes on voucher privatization in Eastern Europe (1993) (5)
The Privatization Process in Central Europe@@@The Privatization Process in Russia, Ukraine and the Baltic States (1994) (5)
Limiting Exchange Rate Swings in a World of Imperfect Knowledge (2004) (5)
EFFICIENT MARKETS: FICTIONS AND REALITY (2010) (4)
Qualitative Rationality and Behavior in the Foreign Exchange Market (1993) (4)
Are the Cross-Equation Restrictions Imposed in the Rational Expectations Models Valid? (1986) (4)
Recognizing the Limits of Economists' Knowledge, from Imperfect Knowledge Economics: Exchange Rates and Risk (2007) (4)
A Distinction Between the Unconditional Expectational Equilibrium and the Rational Expectations Equilibrium (1982) (4)
New Evidence for the Present-Value Model of Stock Prices: Why the REH Version Failed Empirically (2015) (4)
Fallibility in formal macroeconomics and finance theory (2013) (3)
Insuring the Survival of Post-Pandemic Economies (2020) (3)
A New Rational Expectations Hypothesis: What Can Economists Really Know About the Future?* (2015) (3)
Nonlinear estimation problems (1980) (3)
Entrepreneurship in Europe and the United States: Security, Finance, and Accountability (2011) (3)
Individual Expectations and Aggregate Outcomes: An Introduction to the Problem (1983) (3)
An Examination of Econometric Tests of the Propositions Central to the New Classical Macroeconomics (1985) (3)
Institutional Reform in Eastern Europe: Evolution or Design? (1992) (2)
Financial Buyers in Takeovers: Focus on Cost Efficiency (2002) (2)
The Dollar-Euro Exchange Rate and the Limits of Knowledge (2010) (2)
Imperfect Knowledge, Temporal Instability and an Uncertainty Premium: Towards a Resolution of the Excess-Returns Puzzle in the Foreign Exchange Market (2002) (2)
Imperfect Knowledge and Asset Price Dynamics: Modeling the Forecasting of Rational Agents, Dynamic Prospect Theory and Uncertainty Premia on Foreign Exchange (2003) (2)
Re-examining the Empirical Performance of the Monetary Models of the Exchange Rate: A Problem of Structural Change (1991) (1)
5. Castles in the Air: The Efficient Market Hypothesis (2011) (1)
Individual forecasting and aggregate outcomes: Preface (1984) (1)
Stock-Market Expectations: Econometric Evidence that Both REH and Behavioral Insights Matter (2016) (1)
Small Privatization (1994) (1)
Goldberg LIFE AFTER “ RATIONAL EXPECTATIONS ” ? Imperfect Knowledge , Behavioral Insights and the Social Context (2010) (1)
Wieviel Staat braucht der Markt (1992) (1)
Work ( s ) : Knowledge , Information , and Expectations in Modern Macroeconomics : In Honor of (2007) (1)
ICFS Discussion Paper Series , No . 104 Eastern European Experience with Small-Scale Privatization (2001) (1)
LIFE AFTER "RATIONAL EXPECTATIONS"? Imperfect Knowledge, Behavioral Insights and the Social Context (2010) (1)
Why Ownership Matters: (0)
10. Bounded Instability: Linking Risk and Asset-Price Swings (2011) (0)
11. Contingency and Markets (2011) (0)
Rethinking the Role of the Representativeness Heuristic in Macroeconomics and Finance Theory (2020) (0)
How Economists Should Respond to Trumpian Disdain for Experts (2018) (0)
1. The Invention of Mechanical Markets (2011) (0)
Subjective Forecasts and Output-Inflation Relationship (1983) (0)
How Fundamentals Drive Forecasts of Stock Returns : Uncovering the Role of Market Sentiment (2019) (0)
Muths Hypothesis Under Knightian Uncertainty: A Novel Account of Ination Forecasts (2022) (0)
Individual forecasting and aggregate outcomes: Introduction (1984) (0)
Expectations Concordance and Stock Market Volatility: Knightian Uncertainty in the Year of the Pandemic (2021) (0)
9. Fundamentals and Psychology in Price Swings (2011) (0)
Unanimity of Opinions and Convergence to Rational Expectations Equilibrium (1980) (0)
12. Restoring the Market-State Balance (2011) (0)
4.The Figment of the “Rational Market” (2011) (0)
The Contingent Expectations Hypothesis : Conditional Rationality in Macroeconomics and Finance Theory (2013) (0)
2.The Folly of Fully Predetermined History (2011) (0)
Imperfect Knowledge Expectations, Uncertainty-Adjusted Uncovered Interest Rate Parity, and Exchange Rate Dynamics (2021) (0)
Empirical Investigation of the Irrelevance of the Distinction Between Anticipated and Unanticipated Money in Explaining Output (1985) (0)
Edmund S. Phelps and Modern Macroeconomics (2021) (0)
Notes on contributors (2013) (0)
Albert Koopman: Transcultural Management: How to Unlock Global Resources (1993) (0)
6.The Fable of Price Swings as Bubbles (2011) (0)
Individually Rational Expectations and Market Behavior (1980) (0)
Why Diagnostic Expectations Cannot Replace REH (2022) (0)
Market Participants Neither Commit Predictable Errors nor Conform to REH: Evidence from Survey Data of Inflation Forecasts (2021) (0)
The Imperfect Knowledge Forecasting Framework and Premia on Foreign Exchange: A New Approach to Asset Markets (2004) (0)
An Alternative Perspective on Econometric Tests of the National Expectations Hypothesis (1981) (0)
Efficient Estimation of Nonlinear Regression Models With Autocorrelated Errors (1979) (0)
A Money-Output Connection via Wealth Effects in a Walrasian Model (2002) (0)
3. The Orwellian World of “Rational Expectations” (2011) (0)
Comment on “Establishing Property Rights,” by Shleifer (1994) (0)
Theories Consistent Expectationa and Exchange Rate Dynamics (1991) (0)
Privatization in Eastern Europe: A Critical Approach.@@@The Privatization Process in Central Europe: CEU Privatization Reports Volume I.@@@The Privatization Process Russia, Ukraine and the Baltic States: CEU Privatization Reports Volume 2. (1995) (0)
What Went Wrong and What We Can Do about It (2011) (0)
8. Speculation and the Allocative Performance of Financial Markets (2011) (0)
Asset Prices Under Knightian Uncertainty (2021) (0)
7. Keynes and Fundamentals (2011) (0)
On the Interpretation of the Lucas Supply Function in Rational Expectations Models (1980) (0)
Privatization in Eastern Europe (1994) (0)
John W. Baldwin The Language of Sex: Five Voices from Northern France around 1200 (The University of Chicago Press 1994), xxviii+ 331 pp.,£ 29.95/$43.25 HB Roderick Beaton, An Introduction to Modern Greek Literature (Oxford University Press (1995) (0)

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