Models of Disequilibrium and Shortage in Centrally Planned Economies
Models of Disequilibrium and Shortage in Centrally Planned Economies

Author: C.M. Davis

Publisher: Springer Science & Business Media

Published: 2012-12-06

Total Pages: 504

ISBN-13: 9400908237

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The centrally planned economies (CPEs) of the Soviet Union and Eastern Europe have experienced severe imbalances in domestic and external markets over the past several decades. As a result, they have been chronically afflicted by problems such as excess demand, repressed inflation, deficits of commodities, queues, waiting lists, and forced savings. Economists have responded to these phenomena by developing appropriate theoretical and empirical models of CPEs. Of particular note have been the pioneering studies of Richard Portes on disequilibrium econometric models and Janos Kornai on the shortage economy. Each approach has attracted followers who have produced numerous, innovative macro- and microeconomic models of Poland, Czechoslovakia, the German Democratic Republic, Hungary, and the USSR. These models have proved to be of considerable value in the analysis of the causes, consequences and remedies of disequilibrium phenomena. Inevitably, the new research has also generated controversies both between and within the schools of shortage and disequilibrium modelling, concerning the fundamental nature of the socialist economy, theoretical concepts and definitions, the specification of models, estimation techniques, interpretation of empirical findings, and policy recommend ations. Furthermore, the research effort has been energetic but incomplete, so many gaps exist in the field.

Plans and Disequilibria in Centrally Planned Economies
Plans and Disequilibria in Centrally Planned Economies

Author: W. Charemza

Publisher: Elsevier

Published: 2014-06-28

Total Pages: 200

ISBN-13: 1483297470

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The purpose of this study is to investigate interrelations between planning mechanisms and disequilibria in a case where the planning decisions are centralized and are exogenously given to enterprises. The first introductory chapter is intended to provide an understanding of Poland's economic situation during the period under research. In the next five chapters the basic model, describing the households-planners relations in terms of consumption, labour, money and plans are derived, estimated, used for calculation of excess demands, for simulation of some monetary policies, and, finally, for providing optimal control experiments in which consumption excess demand is minimized on a reasonable level of the consumption volume. In the next two chapters the basic model is gradually extended, and the last chapter summarizes the results by formulating a more effective macroeconomic policy.

The Collected Essays of Richard E. Quandt
The Collected Essays of Richard E. Quandt

Author: Richard E. Quandt

Publisher: Edward Elgar Publishing

Published: 1992-01-01

Total Pages: 876

ISBN-13: 9781782543176

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Professor Richard Quandt has made a major contribution to the development of economics in the 20th century. The range and significance of his work has long required a collection of his essays which will allow his contribution to be assessed as a whole. Despite an early interest in microeconomic theory, Richard Quandt has devoted most of his career to econometrics and, in particular, modal split estimation. More recently his work has focused on the econometrics of disequilibrium models with reference to both free market and planned economies. As well as outlining his many articles in microtheory, general econometrics, disequilibrium modeling, financial economics and the economics of planned economies, this collection should have a particular value for all scholars interested in the emergence of the new economies in Eastern Europe, a subject to which Professor Quandt has applied himself in recent years. This book includes an introduction by Professor Quandt describing his early life in Budapest and the circumstances which led him to study economics in America.

Central Planning
Central Planning

Author: P. Hare

Publisher: Routledge

Published: 2013-07-04

Total Pages: 170

ISBN-13: 1136472193

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Examines the nature and the mode of operation of the centrally planned economy, assessing its strengths and the weaknesses that eventually led to its demise.

Global Trends 2040
Global Trends 2040

Author: National Intelligence Council

Publisher: Cosimo Reports

Published: 2021-03

Total Pages: 158

ISBN-13: 9781646794973

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"The ongoing COVID-19 pandemic marks the most significant, singular global disruption since World War II, with health, economic, political, and security implications that will ripple for years to come." -Global Trends 2040 (2021) Global Trends 2040-A More Contested World (2021), released by the US National Intelligence Council, is the latest report in its series of reports starting in 1997 about megatrends and the world's future. This report, strongly influenced by the COVID-19 pandemic, paints a bleak picture of the future and describes a contested, fragmented and turbulent world. It specifically discusses the four main trends that will shape tomorrow's world: - Demographics-by 2040, 1.4 billion people will be added mostly in Africa and South Asia. - Economics-increased government debt and concentrated economic power will escalate problems for the poor and middleclass. - Climate-a hotter world will increase water, food, and health insecurity. - Technology-the emergence of new technologies could both solve and cause problems for human life. Students of trends, policymakers, entrepreneurs, academics, journalists and anyone eager for a glimpse into the next decades, will find this report, with colored graphs, essential reading.

Economics of Arms Reduction and the Peace Process
Economics of Arms Reduction and the Peace Process

Author: W. Isard

Publisher: Elsevier

Published: 2014-06-28

Total Pages: 286

ISBN-13: 1483297381

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The subject of peace economics and its ramifications are comprehensively and deeply attacked in this book. First of all the book presents a compact survey of significant contributions already made, and then it provides a broad theoretical background for examining the subject by evaluating four different approaches, those of 1) neoclassical welfare theory, 2) Keynesian and modern versions of macroeconomics, 3) modern growth theory and 4) political choice theory.A number of contributions deal with major questions on issues such as the impact of military cutbacks in the Eastern European economies upon their growth; trade between nations; arms trade; nuclear defense; and the benefits and costs of war as highlighted by the recent Gulf War. Issues of a more general nature but equally significant are also discussed, including the age-old negotiations problem of two mature political leaders of major powers in conflict; the determinants of military expenditures; and the problems of developing countries. In the last chapter the findings of the studies reported in the book are summarized and key directions for further research are identified.This book is indispensable for any economist or analyst conducting research on peace economics and the peace process or concerned with the impacts of recent arms reduction and conversion by the major powers and the escalation of military expenditures elsewhere.