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Computational Controversies in Disequilibrium and Shortage Modelling of Centrally Planned Economies

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  • Charemza, Wojcieh W

Abstract

Most disequilibrium and shortage models of centrally planned economies fall into three categories: testable excess demand (the Portes school), disequilibrium indicators, and Kornai's economics of shortage. These models have generated numerous controversies and conflicting empirical results. However, this paper argues that some disputes are not caused by the theoretical features of the models but rather by the utilization of different estimation methods that are not directly comparable. This suggests that several controversies are more apparent than real and can be resolved through the improvement of computational techniques and statistical hypothesis testing theory. Copyright 1989 by Blackwell Publishers Ltd

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  • Charemza, Wojcieh W, 1989. "Computational Controversies in Disequilibrium and Shortage Modelling of Centrally Planned Economies," Journal of Economic Surveys, Wiley Blackwell, vol. 3(4), pages 305-324.
    • Handle: RePEc:bla:jecsur:v:3:y:1989:i:4:p:305-24
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    Cited by:

    1. Kim, Byung-Yeon, 2000. "Causes of repressed inflation in the Soviet consumer market: Retail price subsidies, the sihponing effect and the budget deficit," BOFIT Discussion Papers 9/2000, Bank of Finland Institute for Emerging Economies (BOFIT).
    2. Vahabi, Mehrdad, 1997. "De l’économie de la pénurie à l’économie politique du communisme. Sur l’évolution récente de la pensée économique de Janos Kornai : 1980-1996 [Economics of Shortage and Political Economy of Communi," MPRA Paper 80026, University Library of Munich, Germany, revised 1997.
    3. Shida, Yoshisada, 2015. "Forced Savings in the Soviet Republics: Re-examination," RRC Working Paper Series 54, Russian Research Center, Institute of Economic Research, Hitotsubashi University.

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