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Some simple dynamics of transition from command to market economy

Desai, Meghnad and Estrin, S. (1992) Some simple dynamics of transition from command to market economy. CEPDP, 85. Centre for Economic Performance, London School of Economics and Political Science, 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: http://cep.lse.ac.uk
Additional Information: © 1992 the authors
Library of Congress subject classification: H Social Sciences > HF Commerce
H Social Sciences > HB Economic Theory
Sets: Collections > Economists Online
Research centres and groups > Centre for Economic Performance (CEP)
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Identification Number: 85
Date Deposited: 20 Aug 2008 16:13
URL: http://eprints.lse.ac.uk/21042/

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