Author: C.M. Davis
Publisher: Springer Science & Business Media
ISBN: 9400908237
Category : Business & Economics
Languages : en
Pages : 504
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.
Models of Disequilibrium and Shortage in Centrally Planned Economies
Author: C.M. Davis
Publisher: Springer Science & Business Media
ISBN: 9400908237
Category : Business & Economics
Languages : en
Pages : 504
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.
Publisher: Springer Science & Business Media
ISBN: 9400908237
Category : Business & Economics
Languages : en
Pages : 504
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.
Sources of Disequilibrium in a Centrally Planned Economy
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages :
Book Description
Publisher:
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Category :
Languages : en
Pages :
Book Description
Economic disequilibrium in a centrally planned economy under directive-type management
Author: Alfred B. Bieć
Publisher:
ISBN:
Category :
Languages : en
Pages : 25
Book Description
Publisher:
ISBN:
Category :
Languages : en
Pages : 25
Book Description
Uncontrolled Markets and the Inflationary Process in a Centrally Planned Economy
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451965591
Category : Business & Economics
Languages : en
Pages : 28
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.
Publisher: International Monetary Fund
ISBN: 1451965591
Category : Business & Economics
Languages : en
Pages : 28
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.
Disequilibrium Modelling of Consumption in the Centrally Planned Economy
Author: Wojtek charemza
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
Disequilibrium Estimates for Consumption Goods Markets in Centrally Planned Economies
Author: Richard Portes
Publisher:
ISBN:
Category :
Languages : en
Pages : 41
Book Description
Publisher:
ISBN:
Category :
Languages : en
Pages : 41
Book Description
Disequilibrium Econometrics for Centrally Planned Economies
Author: Richard E. Quandt
Publisher:
ISBN:
Category : Central planning
Languages : en
Pages : 44
Book Description
Publisher:
ISBN:
Category : Central planning
Languages : en
Pages : 44
Book Description
Shortage, Repressed Inflation, and Distorted Growth
Author: Hsin Chang
Publisher:
ISBN:
Category :
Languages : en
Pages : 124
Book Description
Publisher:
ISBN:
Category :
Languages : en
Pages : 124
Book Description
Disequilibrium Theory, Waiting Costs and Saving Behavior in Centrally Planned Economies
Author: Barbara Goody Katz
Publisher:
ISBN:
Category :
Languages : en
Pages : 80
Book Description
Publisher:
ISBN:
Category :
Languages : en
Pages : 80
Book Description
SHORTAGE, REPRESSED INFLATION, AND DISTORTED GROWTH: A GENERAL DISEQUILIBRIUM MODEL OF CENTRALLY PLANNED ECONOMIES.
Author: Xin Zhang
Publisher:
ISBN:
Category :
Languages : en
Pages : 138
Book Description
shortage is proved to be dynamically inconsistent; (4) the severity of repressed inflation in CPEs can be theoretically examined; and (5) the national incomes claimed in CPEs is shown to be exaggerated by their overestimating the value of the goods with little utilities.
Publisher:
ISBN:
Category :
Languages : en
Pages : 138
Book Description
shortage is proved to be dynamically inconsistent; (4) the severity of repressed inflation in CPEs can be theoretically examined; and (5) the national incomes claimed in CPEs is shown to be exaggerated by their overestimating the value of the goods with little utilities.