IDEAS home Printed from https://ideas.repec.org/a/ecm/emetrp/v55y1987i1p19-41.html
   My bibliography  Save this article

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

Author

Listed:
  • 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.

Suggested Citation

  • 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
    as

    Download full text from publisher

    File URL: http://links.jstor.org/sici?sici=0012-9682%28198701%2955%3A1%3C19%3AMPADEF%3E2.0.CO%3B2-U&origin=repec
    File Function: full text
    Download Restriction: Access to full text is restricted to JSTOR subscribers. See http://www.jstor.org for details.
    ---><---

    As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.

    Other versions of this item:

    References listed on IDEAS

    as
    1. Wojciech Charemza & Richard E. Quandt, 1982. "Models and Estimation of Disequilibrium for Centrally Planned Economies," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 49(1), pages 109-116.
    2. Portes, Richard, 1981. "Macroeconomic Equilibrium and Disequilibrium in Centrally Planned Economies," Economic Inquiry, Western Economic Association International, vol. 19(4), pages 559-578, October.
    3. 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.
    4. Burkett, John P., 1981. "Marginal and conditional probabilities of excess demand," Economics Letters, Elsevier, vol. 8(2), pages 159-162.
    5. Richard Portes & David Winter, 1980. "Disequilibrium Estimates for Consumption Goods Markets in Centrally Planned Economies," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 47(1), pages 137-159.
    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.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. 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.
    2. János Kornai & Collegium Budapést, 1995. "Eliminating the shortage economy: a general analysis and examination of the dévelopments in Hungary: Part," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 3(2), pages 149-168, June.
    3. Welfe, Aleksander, 1996. "The Price-Wage Inflationary Spiral in Poland," Economic Change and Restructuring, Springer, vol. 29(1), pages 33-50.
    4. Cecilia Testa, 2005. "Reforms, lobbies and welfare: A common agency approach," Public Choice, Springer, vol. 125(3), pages 305-337, December.
    5. 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.
    6. Liefert, William M., 1991. "An Elasticities Approach to Estimating Excess Demand in Price-Controlled Markets," Miscellaneous Publications 333357, United States Department of Agriculture, Economic Research Service.
    7. 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.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Richard Portes, 1986. "The Theory and Measurement of Macroeconomic Disequilibrium in Centrally Planned Economies," NBER Working Papers 1875, National Bureau of Economic Research, Inc.
    2. Filippov, Mikhail G, 2002. "Russian Voting and the Initial Economic Shock of Hyperinflation," Public Choice, Springer, vol. 111(1-2), pages 73-104, March.
    3. Richard Portes, 1981. "Central Planning and Monetarism: Fellow Travelers?," NBER Working Papers 0782, National Bureau of Economic Research, Inc.
    4. Robert Mulligan & Erwin Nijsse, 2001. "Shortage and currency substitution in transition economies: Bulgaria, Hungary, Poland, and Romania," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 7(3), pages 275-295, August.
    5. Salima Hamouche, 1993. "Contribution à l'étude du déséquilibre sur le marché algérien des biens de consommation," Économie et Prévision, Programme National Persée, vol. 108(2), pages 63-74.
    6. Burkett, John P., 1998. "Bureaucratic behavior modeled by reduced-rank regression: The case of expenditures from the Soviet state budget," Journal of Economic Behavior & Organization, Elsevier, vol. 34(1), pages 173-187, January.
    7. Denise Young & Honghai Deng, 1998. "Urbanisation, Agriculture and Industrialisation in China, 1952-91," Urban Studies, Urban Studies Journal Limited, vol. 35(9), pages 1439-1455, August.
    8. M.Ellman., 2010. "What Did The Study of The Soviet Economy Contribute to Mainstream Economics?," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 3.
    9. John Burkett & Richard Portes & David Winter, 1981. "Macroeconomic Adjustment and Foreign Trade of Centrally Planned Economies," NBER Working Papers 0736, National Bureau of Economic Research, Inc.
    10. Quandt, Richard E & Rosen, Harvey S, 1986. "Unemployment, Disequilibrium and the Short Run Phillips Curve: An Econometric Approach," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 1(3), pages 235-253, July.
    11. Kornai, János, 2010. "Hiánygazdaság - többletgazdaság. Tanulmány a piac elméletéről - I. rész [Shortage economy surplus economy. A study on market theory I]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(11), pages 925-957.
    12. Erwin Nijsse & Elmer Sterken,, 1996. "Shortages, interest rates, and money demand in Poland, 1969-1995," Working Papers 25, Centre for Economic Research, University of Groningen and University of Twente.
    13. Lee, Lung-Fei, 1997. "A smooth likelihood simulator for dynamic disequilibrium models," Journal of Econometrics, Elsevier, vol. 78(2), pages 257-294, June.
    14. Kim, Byung Yeon, 1997. "Soviet Household Saving Function," Economic Change and Restructuring, Springer, vol. 30(2-3), pages 181-203.
    15. Portes, Richard & Santorum, Anita, 1987. "Money and the consumption goods market in China," Journal of Comparative Economics, Elsevier, vol. 11(3), pages 354-371, September.
    16. Palumbo, Michael & Rudd, Jeremy & Whelan, Karl, 2006. "On the Relationships Between Real Consumption, Income, and Wealth," Journal of Business & Economic Statistics, American Statistical Association, vol. 24, pages 1-11, January.
    17. Alain Fonteneau, 1983. "Le modèle « OFCE-annuel»," Revue de l'OFCE, Programme National Persée, vol. 5(1), pages 53-79.
    18. Emrah Kocak & Hayriye Hilal Baglitas, 2022. "The path to sustainable municipal solid waste management: Do human development, energy efficiency, and income inequality matter?," Sustainable Development, John Wiley & Sons, Ltd., vol. 30(6), pages 1947-1962, December.
    19. Jaebeom Kim & Masao Ogaki & Minseok Yang, 2007. "Structural Error Correction Models: A System Method for Linear Rational Expectations Models and an Application to an Exchange Rate Model," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 39(8), pages 2057-2075, December.
    20. Tsang, Shu-ki & Ma, Yue, 1997. "Simulating the impact of foreign capital in an open-economy macroeconomic model of China," Economic Modelling, Elsevier, vol. 14(3), pages 435-478, July.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ecm:emetrp:v:55:y:1987:i:1:p:19-41. See general information about how to correct material in RePEc.

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://edirc.repec.org/data/essssea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.