TY  - JOUR
AU  - Portes,Richard
AU  - Quandt,Richard E.
AU  - Winter,David
AU  - Yeo,Stephen
TI  - Planning the Consumption Goods Market: Preliminary Disequilibrium Estimates for Poland, 1955-1980
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 1076
PY  - 1985
Y2  - May 1985
UR  - http://www.nber.org/papers/w1076
L1  - http://www.nber.org/papers/w1076.pdf
N1  - Author contact info:
Richard Portes
London Business School
Regent's Park
London NW1 4SA
UNITED KINGDOM
Tel: 44 (0)  20 7000 8424
Fax:  44 (0) 20 7000 8401
E-Mail: rportes@london.edu

Richard Quandt

David Winter

Stephen Yeo
E-Mail: yeo@tradepartnership.com
AB  - This paper specifies and estimates a four-equation disequilibrium model of the consumption goods market in a centrally planned economy (CPE).The data are from Poland for the period 1955-1980, but the analysis is more general and will be applied to other CPEs as soon as the appropriate data sets are complete.The work reported here is based on previous papers of Portes and Winter and Charernza and Quandt.Portes-Winter applied to eachof four CPEs a discrete-switching disequilibrium model with a household demand equation for consumption goods, a planners'supply equation, and a "min" condition stating that the observed quantity transacted is the lesser of the quantities demanded and supplied.Charemza-Quandt considered how an equation for the adjustment of planned quantitites could be integrated into a CPE model with fixed prices and without the usual price adjustment equation.They made plan formation endogenous and permitted the resulting plan variables to enter the equations determining demand and supply.This paper implements the Charemza-Quandt proposal in the Portes-Winter context.It uses a unique new data set of time series for plans for the major macroeconomic variables in Poland and other CPEs.The overall framework is applicable to any large organisation which plans economic variables.
ER  -