MODELS OF DISEQUILIBRIUM AND SHORTAGE IN CENTRALLY PLANNED ECONOMIES. (SIGNED).

DAVIS, Christopher And Wojciech Charemza (Edit).

ISBN 10: 0412284200 / ISBN 13: 9780412284205

Published by Chapman And Hall,, London,, 1989

About this Item

First Edition. Hardback. Dust Jacket. 8vo. Tables, figures. Signed presentation from the author to Richard Stone and his wife: 'To Dick and Giovanna/ with thanks for your/ hospitality, advice and/ support/ Chris/ August 1989.' From the library of distinguished Cambridge economist Sir Richard Stone (1913- 1991) In 1984 he was awarded the Nobel Prize in Economic Sciences for developing an accounting model that could be used to track economic activities on a national and, later, an international scale. ISBN: 0412284200 Pages: 520 F/NF (dust jacket very slightly sunned).

Seller Inventory # A67310

Bibliographic Details

• Title: MODELS OF DISEQUILIBRIUM AND SHORTAGE IN CENTRALLY PLANNED ECONOMIES. (SIGNED).
• Publisher: Chapman And Hall,, London,
• Publication Date: 1989
• Language: English
• ISBN 10: 0412284200
• ISBN 13: 9780412284205
• Binding: Hardback
• Edition: 1st Edition
• Condition: Fine
• Dust Jacket Condition: Dust Jacket Included
• Signed: Signedes

About this title

Synopsis

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.

Synopsis

Based on the disequilibrium econometric models of Richard Portes and his colleagues and the models of the socialist shortage economy elaborated by Janos Kornai and members of his school, this book provides a number of comprehensive surveys of the theoretical foundations of the new disequilibrium and shortage models of centrally planned economies of the Soviet Union and Eastern Europe and of relevant econometric estimation techniques. It also contains chapters on macroeconomic models of foreign trade, the automobile market, and the medical system in various socialist countries. Numerous original contributions are made in the volume in the areas of economic theory, econometric estimation, model building, and empirical analysis. The authors of the chapters are leading specialists in the field of disequilibrium and shortage modelling from the USA, Britain, Poland, Hungary, Czechoslovakia, France and Italy.