Slack, Shortage, and Discouraged Consumers in Eastern Europe: Estimates Based on Smoothing by Aggregation

S-Tier
Journal: Review of Economic Studies
Year: 1988
Volume: 55
Issue: 3
Pages: 493-505

Score contribution per author:

8.043 = (α=2.01 / 1 authors) × 4.0x S-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

As a consequence of aggregation over markets, the observed quantity may be less than the quantity demanded and less than the quantity supplied. To deal with such situations, a new technique is proposed for estimating demand and supply curves and the extent of shortage and slack. The technique is applied to the consumption goods markets of Czechoslovakia, the German Democratic Republic, Hungary, Poland, and Yugoslavia. It is found that shortage, even corrected for a discouraged consumer effect, is seldom as great as slack.

Technical Details

RePEc Handle
repec:oup:restud:v:55:y:1988:i:3:p:493-505.
Journal Field
General
Author Count
1
Added to Database
2026-01-25