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
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 3 (1999)
Issue (Month): 1 (February)
|Contact details of provider:|| Web page: http://www.blackwellpublishing.com/journal.asp?ref=1363-6669|
|Order Information:||Web: http://www.blackwellpublishing.com/subs.asp?ref=1363-6669|
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.:
- Polterovich, Victor, 1993. "Rationing, Queues, and Black Markets," Econometrica, Econometric Society, vol. 61(1), pages 1-28, January.
- Van Wijnbergen, S., 1991.
"Intertemporal Speculation , Shortages annd the Political Economy of Price Reform,"
9149, Tilburg - Center for Economic Research.
- van Wijnbergen, Sweder, 1992. "Intertemporal Speculation, Shortages and the Political Economy of Price Reform," Economic Journal, 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.
- de Macedo, Jorge Braga, 1987. "Currency inconvertibility, trade taxes and smuggling," Journal of Development Economics, Elsevier, vol. 27(1-2), pages 109-125, October.
- Kamin, Steven B., 1993. "Devaluation, exchange controls, and black markets for foreign exchange in developing countries," Journal of Development Economics, Elsevier, vol. 40(1), pages 151-169, February.
- 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.
- Kornai, Janos & Weibull, Jorgen W, 1978. " The Normal State of the Market in a Shortage Economy: A Queue Model," Scandinavian Journal of Economics, Wiley Blackwell, vol. 80(4), pages 375-98.
- Calvo, Guillermo A & Rodriguez, Carlos Alfredo, 1977. "A Model of Exchange Rate Determination under Currency Substitution and Rational Expectations," Journal of Political Economy, University of Chicago Press, vol. 85(3), pages 617-25, June.
When requesting a correction, please mention this item's handle: RePEc:bla:rdevec:v:3:y:1999:i:1:p:1-10. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing)or (Christopher F. Baum)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.