The System of Demand Equations in a State of Disequilibrium

Welfe, A. (1985). The System of Demand Equations in a State of Disequilibrium. IIASA Collaborative Paper. IIASA, Laxenburg, Austria: CP-85-035

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Abstract

Many of today's most significant socioeconomic problems, such as slower economic growth, the decline of some established industries, and shifts in patterns of foreign trade, are inter- or transnational in nature so that the intercountry comparative analyses of recent historical developments are necessary. The understanding of these processes and future prospects provides the focus for IIASA's project on Comparative Analysis of Economic Structure and Growth.

Our research concentrates primarily on the empirical analysis of interregional and intertemporal economic structural change, on the sources of and constraints on economic growth, on problems of adaptation to sudden changes, and especially on problems arising from changing patterns of international trade, resource availability, and technology. This paper deals with the problem of econometric modeling of personal consumption expenditures under the conditions of disequilibria.

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