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Introduction to models of disequilibrium and shortage in centrally planned economies

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Models of Disequilibrium and Shortage in Centrally Planned Economies

Part of the book series: International Studies in Economic Modelling ((ISIM))

Abstract

The analysis and modelling of disequilibrium and shortage phenomena in economic systems have attracted substantial interest in recent years. Concern about the adequacy of the conceptualization of equilibrium and its dynamics has stimulated advances in the elaboration of theories and models that explain the behaviour of economies outside the conventional equilibrium state, such as fixed-price equilibrium theory and the theory of the shortage economy. Developments in econometric estimation techniques and hypothesis testing have also contributed to the intensification of quantitative research on disequilibrium issues. Finally, work on disequilibrium and shortage problems has been stimulated by the fact that since the mid-1970s most economies have functioned for prolonged periods in disequilibrium states — Keynesian unemployment in market economies and repressed inflation or chronic shortages in socialist countries — and by the demands of policy-makers for appropriate solutions to economic imbalances.

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Authors
  1. Christopher Davis
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  2. Wojciech Charemza
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Editors and Affiliations

  1. Centre for Russian and East European Studies, University of Birmingham, UK

    Christopher Davis

  2. Department of Economics, University of Leicester, UK

    Wojciech Charemza

  3. University of Gdansk, Poland

    Wojciech Charemza

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Davis, C., Charemza, W. (1989). Introduction to models of disequilibrium and shortage in centrally planned economies. In: Davis, C., Charemza, W. (eds) Models of Disequilibrium and Shortage in Centrally Planned Economies. International Studies in Economic Modelling. Springer, Dordrecht. https://doi.org/10.1007/978-94-009-0823-9_1

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