This paper examines the responsiveness of the balance of trade of the People's Republic of China to the real exchange rate. We find that, in both the short-run and the long-run, devaluation serves to improve the balance of trade. Using quarterly data for 1980:1 to 1989:4 we show that the bulk of...

The Russian military-industrial sector, like the economy generally is undergoing a turbulent transformation. Property rights, institutional arrangements, regulatory mechanisms, and procurement demand are in rapid flux. In 1992 weapons production declined drastically, variously estimated between...

This paper addresses the effect on consumer saving behavior of queue rationing and of price reform in a Soviet-type economy in a lifecycle framework with overlapping generations. It is shown that consumers save less for retirement in a queue-rationed exchange economy with black markets than they...

Structural change is endemic in the Eastern European economies and the newly emerging Commonwealth of Independent States, yet conventional econometric modeling techniques proceed under the assumption that there is a structurally stable "true" economy to be discovered. This paper explores the...

The correct evaluation of price distortion is a prerequisite for designing the correct price reform policy which is of tremendous importance in the transitions process from a centrally planned economy to a market economy. The purpose of this paper is to investigate the advantages and...

The demand for money in China is estimated separately for the periods before and after the economic reform. Besides the traditional transactions demand variable, the expected rate of inflation (as a measure of the opportunity cost of holding money) and the monetization process are also...

This paper considers the problem of econometric modeling of the East European Economy in transition. The description of the transition process in the Polish economy given in the paper suggests that one can distinguish two points of view on the modeling of the objects under consideration. The...