This paper reviews briefly the controversy in the literature concerning the speed of adjustment and sequencing of reforms, and presents a model parameterized with Chinese data. The model is used to generate different policy simulations to illustrate some of the key issues in the debate on the...

This paper analyzes certain issues concerning the speed of adjustment and sequencing of reforms in a transition economy. It presents a dynamic general equilibrium model parameterized with Chinese data. The model is used to generate different policy simulations that highlight the importance of...

This paper reviews briefly the controversy in the literature concerning the speed of adjustment and sequencing of reforms, and presents a model parameterized with Chinese data. The model is used to generate different policy simulations to illustrate some of the key issues in the debate on the...

We construct a simple model that tests for repressed inflation by estimating a "true" rate of inflation that explains behavior of observed money demand. We estimate the model using quarterly data for Czechoslovakia and Poland. Although our results should be viewed as preliminary, given the...

We construct an intertemporal general equilibrium model designed to examine an economy in transition from central planning to being market oriented. The model considers one sector facing an output price control in the transition period, while the other sector has free output pricing. Interest...

We construct a model of a reform economy in transition from central planning to free markets. The eventual success of the reform is uncertain. A numerical implementation of the model examines the implications of two alternative paths, instantaneous or gradual price reform. If the...

This paper constructs an intertemporal general equilibrium model designed to examine an economy in transition from central planning to being market oriented. A numerical algorithm is developed to obtain a solution for the model. Simulations using stylized country-specific data examine the...