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Models of Disequilibrium and Shortage in Centrally Planned Economies

  • Christopher Davis
  • Wojciech Charemza

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

Table of contents

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

  3. Macroeconomic disequilibrium models of centrally planned economies

    1. Front Matter
      Pages 179-179
    2. Wladyslaw Welfe
      Pages 205-246
    3. Katalin Hulyak
      Pages 247-260
  4. Sectoral shortage and disequilibrium models of centrally planned economies

    1. Front Matter
      Pages 261-261
    2. Mária Lackó
      Pages 263-281
    3. Irena Grosfeld
      Pages 361-374
    4. Zsuzsa Kapitány, János Kornai, Judit Szabó
      Pages 375-404
    5. Wojciech Charemza, Miroslaw Gronicki, Richard E. Quandt
      Pages 405-425
    6. Wojciech Charemza, Christopher Davis
      Pages 461-472
  5. Back Matter
    Pages 473-501

About this book

Introduction

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.

Keywords

Inflation centrally planned economy econometrics economics equilibrium modeling production

Editors and affiliations

  • Christopher Davis
    • 1
  • Wojciech Charemza
    • 2
    • 3
  1. 1.Centre for Russian and East European StudiesUniversity of BirminghamUK
  2. 2.Department of EconomicsUniversity of LeicesterUK
  3. 3.University of GdanskPoland

Bibliographic information

  • DOI https://doi.org/10.1007/978-94-009-0823-9
  • Copyright Information Springer Science+Business Media B.V. 1989
  • Publisher Name Springer, Dordrecht
  • eBook Packages Springer Book Archive
  • Print ISBN 978-94-010-6856-7
  • Online ISBN 978-94-009-0823-9
  • Buy this book on publisher's site
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