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Macroeconomic Planning and Disequilibrium: Estimates for Poland, 1955-1980

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  • Portes, Richard, et al

Abstract

The 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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  • Portes, Richard, et al, 1987. "Macroeconomic Planning and Disequilibrium: Estimates for Poland, 1955-1980," Econometrica, Econometric Society, vol. 55(1), pages 19-41, January.
  • Handle: RePEc:ecm:emetrp:v:55:y:1987:i:1:p:19-41
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    1. Wojciech Charemza & Richard E. Quandt, 1982. "Models and Estimation of Disequilibrium for Centrally Planned Economies," Review of Economic Studies, Oxford University Press, vol. 49(1), pages 109-116.
    2. Richard Portes & David Winter, 1980. "Disequilibrium Estimates for Consumption Goods Markets in Centrally Planned Economies," Review of Economic Studies, Oxford University Press, vol. 47(1), pages 137-159.
    3. Portes, Richard, 1981. "Macroeconomic Equilibrium and Disequilibrium in Centrally Planned Economies," Economic Inquiry, Western Economic Association International, vol. 19(4), pages 559-578, October.
    4. 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.
    5. Burkett, John P., 1981. "Marginal and conditional probabilities of excess demand," Economics Letters, Elsevier, vol. 8(2), pages 159-162.
    6. Quandt, Richard E., 1981. "Autocorrelated errors in simple disequilibrium models," Economics Letters, Elsevier, vol. 7(1), pages 55-61.
    7. 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 661-692, December.
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    Cited by:

    1. Welfe, Aleksander, 1996. "The Price-Wage Inflationary Spiral in Poland," Economic Change and Restructuring, Springer, vol. 29(1), pages 33-50.
    2. Cecilia Testa, 2005. "Reforms, lobbies and welfare: A common agency approach," Public Choice, Springer, vol. 125(3), pages 305-337, December.
    3. Daniel LINOTTE, 1993. "Changements Structurels Et Privatisation Dans Les Économies En Transition," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 64(3), pages 311-328, July.
    4. Kornai, János, 2010. "Hiánygazdaság - többletgazdaság. Tanulmány a piac elméletéről - II. rész
      [Shortage economy - surplus economy. A study on market theory II]
      ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(12), pages 1021-1044.
    5. János Kornai & Collegium BudapÈst, 1995. "Eliminating the shortage economy: a general analysis and examination of the dÈvelopments in Hungary: Part," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 3(2), pages 149-168, June.
    6. Daniela Veronica Gabor, 2012. "The Road to Financialization in Central and Eastern Europe: The Early Policies and Politics of Stabilizing Transition," Review of Political Economy, Taylor & Francis Journals, vol. 24(2), pages 227-249, April.

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