Macroeconomic Planning and Disequilibrium: Estimates for Poland, 1955-1980
AbstractThe authors specify and estimate a four-equation disequilibrium model of the consumption goods market in a centrally planned econo my. This work is based on previous papers of R. Portes and D. Winter_(1977) and W. Charemza and R. Quandt_(1982). The model contains a household demand equation , a planners' supply equation, a "min" condition and plan adjustment equation through which plan formation becomes endogenous. The paper uses a unique new data set of time series for plans for the major macroeconomic variables in Poland. The overall framework is applicable to any large organization which plans economic variables. Coauthors are Richard E. Quandt, David Winter, and Stephen Yeo. Copyright 1987 by The Econometric Society.
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Bibliographic InfoArticle provided by Econometric Society in its journal Econometrica.
Volume (Year): 55 (1987)
Issue (Month): 1 (January)
Other versions of this item:
- Richard Portes & Richard E. Quandt & David Winter & Stephen Yeo, 1987. "Macroeconomic Planning and Disequilibrium: Estimates for Poland, 1955-1980," NBER Working Papers 1182, National Bureau of Economic Research, Inc.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Davidson, James E H, et al, 1978. "Econometric Modelling of the Aggregate Time-Series Relationship between Consumers' Expenditure and Income in the United Kingdom," Economic Journal, Royal Economic Society, vol. 88(352), pages 661-92, December.
- Charemza, Wojciech & Quandt, Richard E, 1982. "Models and Estimation of Disequilibrium for Centrally Planned Economies," Review of Economic Studies, Wiley Blackwell, vol. 49(1), pages 109-16, January.
- Portes, Richard & Winter, David, 1980. "Disequilibrium Estimates for Consumption Goods Markets in Centrally Planned Economies," Review of Economic Studies, Wiley Blackwell, vol. 47(1), pages 137-59, January.
- Portes, Richard & Winter, David, 1977. "The supply of consumption goods in centrally planned economies," Journal of Comparative Economics, Elsevier, vol. 1(4), pages 351-365, December.
- Portes, Richard, 1981. "Macroeconomic Equilibrium and Disequilibrium in Centrally Planned Economies," Economic Inquiry, Western Economic Association International, vol. 19(4), pages 559-78, October.
- Burkett, John P., 1981. "Marginal and conditional probabilities of excess demand," Economics Letters, Elsevier, vol. 8(2), pages 159-162.
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