Publisher Summary This chapter reviews the recent literature on disequilibrium and
selectivity models. The cornerstone of the disequilibrium models is the minimum condition …

In a socialist economy the shortage in consumer goods, housing shortage, disturbances in
material supply, shortage in investment goods, and labor shortage are to be traced back to …

The transition from socialism to capitalism in former socialist economies is one of the main
economic events of the twentieth century. Not only does it affect the lives of approximately …

PHE HUNGARIAN ECONOMY has under-gone major systemic changes in the last 30 years.
The impact of the reform is felt by every Hungarian citizen. The influence of the Hungarian …

A framework is proposed for interpreting recent developments in time series econometrics,
emphasizing the problems of linking economics and statistics. There are six main expository …

These seven essays by the Eastern block's most important economist address and explore
many of the critical social and economic issues inherent in the socialist economy. Published …

This paper studies interwar experience with external debt and default. It begins with a
description of the contours of international borrowing and lending in the 1920s. We then use …

In Dynamism, Rivalry, and the Surplus Economy, János Kornai examines capitalism as an
economic system and in comparison to socialism. Kornai explains his view of capitalism as …

The Soviet Union and Eastern Europe provide unique examples of large-scale relatively
highly developed centrally planned economies. In the 1980s economists in both the East …

Official price trends in the USSR and in the Soviet-type economies have changed markedly
through time but have followed a roughly uniform general pattern: hyperinflation at times of …