International Studies in Economic Modelling

Models of Disequilibrium and Shortage in Centrally Planned Economies

Authors: Davis, C.M., Charemza, W.

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About this book

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.

Table of contents (18 chapters)

  • Introduction to models of disequilibrium and shortage in centrally planned economies

    Davis, Christopher (et al.)

    Pages 3-25

  • The theory and measurement of macroeconomic disequilibrium in centrally planned economies

    Portes, Richard

    Pages 27-47

  • The economics of shortage in the centrally planned economies

    Hare, Paul

    Pages 49-81

  • The chronic excess demand hypothesis

    Kemme, David M.

    Pages 83-99

  • Hidden and repressed inflation in Soviet-type economies: definitions, measurements and stabilization

    Nuti, Domenico Mario

    Pages 101-146

Buy this book

eBook $84.99
price for USA in USD (gross)
  • ISBN 978-94-009-0823-9
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $99.00
price for USA in USD
  • ISBN 978-0-412-28420-5
  • Free shipping for individuals worldwide
  • Currently out of stock.
Softcover $109.00
price for USA in USD
  • ISBN 978-94-010-6856-7
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Models of Disequilibrium and Shortage in Centrally Planned Economies
Authors
Series Title
International Studies in Economic Modelling
Copyright
1989
Publisher
Springer Netherlands
Copyright Holder
Chapman and Hall Ltd
eBook ISBN
978-94-009-0823-9
DOI
10.1007/978-94-009-0823-9
Hardcover ISBN
978-0-412-28420-5
Softcover ISBN
978-94-010-6856-7
Edition Number
1
Number of Pages
520
Topics