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• W1557597265 abstract "The motivation for my research on CPE macroeconomics has been to elucidate the general problem of macroeconomic equilibrium and, in a specific application, to evaluate the evidence for repressed inflation in the consumption goods markets of the ‘classical’ Soviet-type economies of Eastern Europe. This empirical testing required a more elaborate and general macroeconomics than was then available for the CPEs. A prerequisite was to clarify the appropriate concept of ‘equilibrium’ (see Muellbauer and Portes, 1978, for market economies, and Dlouhy, 1984, in the CPE context). An equilibrium with quantity rationing is a state in which markets do not clear, but the economy is at rest, and we can in principle measure the magnitude of ‘disequilibrium’ in terms of the distance from a market-clearing allocation or price vector. Similarly, Kornai (1980) discusses a self-reproducing equilibrium state of an economy characterized by pervasive shortages which he subsequently seeks to measure (1982)." @default.
• W1557597265 created "2016-06-24" @default.
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• W1557597265 date "1989-01-01" @default.
• W1557597265 modified "2023-10-14" @default.
• W1557597265 title "The theory and measurement of macroeconomic disequilibrium in centrally planned economies" @default.
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• W1557597265 doi "https://doi.org/10.1007/978-94-009-0823-9_2" @default.
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