The Soviet Price Determination, An Econometric Study
This paper attempts estimation of the model of the Soviet price determination. Model consists of price equations for five sectors of the Soviet economy, and it is intended to be a part of a larger econometric model of the Soviet economy. Four different cost-plus price formulae were estimated. That included labor value prices and two channel prices. In one of the variants a “capital charge” was included into prices in the post reform years. Considering the shortness of time series relatively poor quality of data and the fact, that the Soviet centralized price determination is generally regarded to be quite arbitrary, almost all the regressions gave surprisingly good results.
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