NBER Working Papers and Publications
|February 1983||Planning the Consumption Goods Market: Preliminary Disequilibrium Estimates for Poland, 1955-1980|
with Richard Portes, Richard E. Quandt, David Winter: w1076
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...
Published: in "Contemporary Macroeconomic Modeling," edited by P. Malgrange and P.A. Muet, pp. 254-271. Oxford: Blackwell Publishers, (1984).