Some simple dynamics of transition from command to market economy

Desai, Meghnad and Estrin, Saul ORCID: 0000-0002-3447-8593 (1992) Some simple dynamics of transition from command to market economy. CEP Discussion Papers (CEPDP0085). London School of Economics and Political Science. Centre for Economic Performance, London, UK.

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Abstract

The recent experience of Eastern European economies- Hungary, Poland and Czechoslovakia - is analysed in terms of two simple models, the first model characterises the planned economy and derives an expression for the monetary overhang. The second model analyses the dynamics of transition in terms of an Aggregate Demand - Aggregate Supply model with price expectations. The simultaneous occurrence of inflation and putput loss is derived. Extensions to cover a more complex scenario are discussed.

Item Type:	Monograph (Discussion Paper)
Official URL:	https://cep.lse.ac.uk/_new/publications/discussion...
Additional Information:	© 1992 The Author(s)
Divisions:	Economics Management
Subjects:	H Social Sciences > HC Economic History and Conditions H Social Sciences > HB Economic Theory
JEL classification:	E - Macroeconomics and Monetary Economics > E0 - General > E00 - General
Date Deposited:	20 Aug 2008 16:13
Last Modified:	01 Apr 2024 07:56
URI:	http://eprints.lse.ac.uk/id/eprint/21042

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