Macroeconomic Equilibrium and Disequilibrium in Centrally Planned Economies PDF Download
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Author: Richard Portes
Publisher:
ISBN:
Category : Economic policy
Languages : en
Pages : 29
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Book Description
Author: Richard Portes
Publisher:
ISBN:
Category : Economic policy
Languages : en
Pages : 29
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Book Description
Author: C.M. Davis
Publisher: Springer Science & Business Media
ISBN: 9400908237
Category : Business & Economics
Languages : en
Pages : 504
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Book Description
The centrally planned economies (CPEs) of the Soviet Union and Eastern Europe have experienced severe imbalances in domestic and external markets over the past several decades. As a result, they have been chronically afflicted by problems such as excess demand, repressed inflation, deficits of commodities, queues, waiting lists, and forced savings. Economists have responded to these phenomena by developing appropriate theoretical and empirical models of CPEs. Of particular note have been the pioneering studies of Richard Portes on disequilibrium econometric models and Janos Kornai on the shortage economy. Each approach has attracted followers who have produced numerous, innovative macro- and microeconomic models of Poland, Czechoslovakia, the German Democratic Republic, Hungary, and the USSR. These models have proved to be of considerable value in the analysis of the causes, consequences and remedies of disequilibrium phenomena. Inevitably, the new research has also generated controversies both between and within the schools of shortage and disequilibrium modelling, concerning the fundamental nature of the socialist economy, theoretical concepts and definitions, the specification of models, estimation techniques, interpretation of empirical findings, and policy recommend ations. Furthermore, the research effort has been energetic but incomplete, so many gaps exist in the field.
Author: Richard Portes
Publisher:
ISBN:
Category : Macroeconomics
Languages : en
Pages : 43
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Book Description
Author: Richard Portes
Publisher:
ISBN:
Category :
Languages : en
Pages : 28
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Book Description
Author: G. Schwödiauer
Publisher: Springer Science & Business Media
ISBN: 9401011559
Category : Social Science
Languages : en
Pages : 768
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Book Description
This volume is the result of a conference held at the Institute for Advanced Studies, Vienna. There is still a gap reflected both in fundamental meth odological differences and in the style of analysis between the Walrasian (and Edgeworthian) tradition of general equilibrium theory and the theo retical and policy problems raised in the framework of Keynesian and post-Keynesian macroeconomics. The conference succeeded in bringing together economic theorists working in fields ranging from abstract prob lems of mathematical equilibrium analysis to applied macroeconomic theory, and it is hoped that the present volume will contribute to bridging the above-mentioned hiatus. As organizer of the meeting and editor of its proceedings I want to thank the Institute for Advanced Studies for providing facilities and funds. I am also sincerely grateful to all my colleagues from the Institute for their generous help, in particular to Mrs Monika Herkner without whose assistance and organizational talent the conference would certainly not have been the success it in fact - in the opinion of all participants - turned out to have been. Furthermore, I wish to express my gratitude towards all participants in the meeting and contributors to the volume whose patient support of the whole enterprise proved indispensable. To Mrs Elfriede Auracher I am deeply indebted for her skillful and effective general management of the editorial work and her invaluable assistance in compiling the indexes.
Author: Jean-Pascal Bénassy
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 272
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Book Description
Microeconomics; Market equilibrium and disequilib rium; Disequilibrium trading and quantity signals; Effective demand: A first approach; Effective demand and spillover effects; Price making; Non-Walrasian equilibrium concepts; The general framework; Fixprice equilibria; Expectations and temporary fixprice equilibria; Temporary equilibria with price makers; Efficiency; Macroeconomics; A model of unemployment; Unemployment and expectations; A model of unemployment with flexible price; A model of inflation.
Author: Barry William Ickes
Publisher:
ISBN:
Category :
Languages : en
Pages : 632
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Book Description
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451965591
Category : Business & Economics
Languages : en
Pages : 28
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Book Description
This paper analyzes the inflationary process in a centrally planned economy which has an uncontrolled market where prices can move more freely. The maintenance of controls over prices and rationing in the economy leads to the emergence of forces that generate inflation in the uncontrolled market, and that cause shrinkage of the controlled economy as resources move into the uncontrolled market. Decontrol of prices and production of the controlled market is the optimal policy. The adoption of this policy facilitates an increase in income and aggregate demand, which raises the equilibrium prices and total production in the economy.
Author: Pawel H. Dembinski
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 272
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Book Description
This timely book examines and seeks to explain the inner contradictions of centrally planned economies and shows how the seeds of their collapse had existed within the system from the very start. The author shows how the orthodox ideological principles of the system rendered it inflexible and incapable of reform and thus unable to transform itself into an efficient modern economy. Though the system as such has ceased to exist, it is as yet only the rules that have disappeared--the system's components continue to exist and, the author argues, a proper understanding of the origins and previous functions of each component is necessary if it is to be integrated into the new system.
Author: Franklin M. Fisher
Publisher: Cambridge University Press
ISBN: 9780521242646
Category : Business & Economics
Languages : en
Pages : 258
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Book Description
The most common mode of analysis in economic theory is to assume equilibrium. Yet, without a proper theory of how economies behave in disequilibrium, there is no foundation for such a practice. The necessary step in proposing a foundation is the formulation of a theory of stability, and in this 1984 book, Professor Fisher is primarily concerned with this subject, although disequilibrium behavior itself is analyzed. The author first undertakes a review of the existing literature on the stability of general equilibrium. He then proposes a more satisfactory general model in which agents realize their state of disequilibrium and act on arbitrage opportunities. The interrelated topics of the role of money, the nature of quantity constraints, and the optimal behaviour of arbitraging agents are extensively treated.
