Shortages, Hoarding and Parallel-Market Premia in an Economy with Administered Prices
This paper examines the implications of a number of policy changes in the context of a dynamic model of an economy with administered prices. Official prices below the market-clearing level give rise to shortages hoarding, and parallel-market activity. The paper examines the implications for consumption, hoarding, and the parallel-market premium of changes in official prices and wages, a crackdown on hoarding, and a monetary reform. Copyright 1999 by Blackwell Publishing Ltd
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Volume (Year): 3 (1999)
Issue (Month): 1 (February)
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References listed on IDEAS
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.:
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"Intertemporal Speculation, Shortages and the Political Economy of Price Reform,"
Royal Economic Society, vol. 102(415), pages 1395-406, November.
- van Wijnbergen, S., 1991. "Intertemporal Speculation, Shortages and the Political Economy of Price Reform," Discussion Paper 1991-49, Tilburg University, Center for Economic Research.
- Van Wijnbergen, S., 1991. "Intertemporal Speculation , Shortages annd the Political Economy of Price Reform," Papers 9149, Tilburg - Center for Economic Research.
- Sah, Raaj Kumar, 1987. "Queues, Rations, and Market: Comparisons of Outcomes for the Poor and the Rich," American Economic Review, American Economic Association, vol. 77(1), pages 69-77, March.
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