Change in Economic Mechanism: Model of Evolutionary Transition from Budgets Regulation to Competitive Market

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http://eprints.org/relation/isVersionOf https://pure.iiasa.ac.at/id/document/3870 http://eprints.org/relation/isVolatileVersionOf https://pure.iiasa.ac.at/id/document/3870 http://eprints.org/relation/isCoversheetVersionOf https://pure.iiasa.ac.at/id/document/3870 archive 351 disk0/00/00/41/01 2016-01-15 02:04:06 2021-08-27 17:14:46 2016-01-15 02:04:06 monograph show 2 Arkin V.I. AL0010 Slastnikov A.D. Change in Economic Mechanism: Model of Evolutionary Transition from Budgets Regulation to Competitive Market pub iis_ecn iis_mod prog_ted In the framework of dynamic equilibrium theory we propose a model of evolutionary transition from Economy with centralized budgets regulation to Market Economy (with self-financing). It is assumed that information about possible change of economic mechanism affects essentially on behavior of agents. Duration of transition period is regarded as a random variable. We study conditions when such transition allows firms to adapt their plans to future market and guarantees an existence of equilibrium paths. It is also discussed the case of Shock (instantaneous transition) which may bring to bankruptcy, jump of prices and deficit. 1994-11 published WP-94-111 WP-94-111 10 1693 public working_paper IIASA, Laxenburg, Austria FALSE info:eu-repo/semantics/book