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Models of Disequilibrium and Shortage in Centrally Planned Economies

  • Book
  • © 1989

Overview

Editors:
  1. Christopher Davis

    1. Centre for Russian and East European Studies, University of Birmingham, UK

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  2. Wojciech Charemza

    1. Department of Economics, University of Leicester, UK
      University of Gdansk, Poland

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    You can also search for this editor in PubMed   Google Scholar

Part of the book series: International Studies in Economic Modelling (ISIM)

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Table of contents (18 chapters)

  1. Front Matter

    Pages i-xv
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  2. The foundations of disequilibrium and shortage models of centrally planned economies

    1. Front Matter

      Pages 1-1
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    2. Introduction to models of disequilibrium and shortage in centrally planned economies

      • Christopher Davis, Wojciech Charemza
      Pages 3-25

    3. The theory and measurement of macroeconomic disequilibrium in centrally planned economies

      • Richard Portes
      Pages 27-47

    4. The economics of shortage in the centrally planned economies

      • Paul Hare
      Pages 49-81

    5. The chronic excess demand hypothesis

      • David M. Kemme
      Pages 83-99

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

      • Domenico Mario Nuti
      Pages 101-146

    7. Disequilibrium econometrics for centrally planned economies

      • Richard E. Quandt
      Pages 147-177

  3. Macroeconomic disequilibrium models of centrally planned economies

    1. Front Matter

      Pages 179-179
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    2. Disequilibrium models of the Czechoslovak economy

      • Vladimir Dlouhy
      Pages 181-204

    3. Macroeconomic disequilibrium models of Poland

      • Wladyslaw Welfe
      Pages 205-246

    4. Macroeconomic disequilibrium model of Hungary

      • Katalin Hulyak
      Pages 247-260

  4. Sectoral shortage and disequilibrium models of centrally planned economies

    1. Front Matter

      Pages 261-261
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    2. Sectoral shortage models in Hungary

      • Mária Lackó
      Pages 263-281

    3. Disequilibrium modelling of consumption in the centrally planned economy

      • Wojciech Charemza
      Pages 283-315

    4. Savings and consumption in the centrally planned economy: a disequilibrium approach

      • Aleksander Welfe
      Pages 317-332

    5. A disequilibrium approach to modelling foreign trade in centrally planned economies

      • Josef C. Brada, Arthur E. King
      Pages 333-360

    6. Disequilibrium models of investment

      • Irena Grosfeld
      Pages 361-374

    7. Reproduction of shortage in the Hungarian car market

      • Zsuzsa Kapitány, János Kornai, Judit Szabó
      Pages 375-404

    8. Modelling parallel markets in centrally planned economies: the case of the automobile market in Poland

      • Wojciech Charemza, Miroslaw Gronicki, Richard E. Quandt
      Pages 405-425
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Keywords

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.

Editors and Affiliations

  • Centre for Russian and East European Studies, University of Birmingham, UK

    Christopher Davis

  • Department of Economics, University of Leicester, UK

    Wojciech Charemza

  • University of Gdansk, Poland

    Wojciech Charemza

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