FOOTNOTES


 

1 For a more detailed discussion of this point, see 0. Kyn, W. Schrettl and J. Slama (1979).
2 D. W. Green and C. Higgins (1977), I. Sujan, J. Kolek and K. Gergelyi (1973/1974). For a survey oŁ econometric models of the USSR, Hungary, Poland and the GDR, see J. Kolek and I. Sujan (1975).
3 V. Mokry (1971), 3. Rybackova (1974), K. Janacek (1972, 1975), R. Portes and  D. Winter (1977, 1978).
4 It will be assumed for the sake of simplicity that plans are always fulfilled, although it could be interesting in this context to study, how the discrepancy between plans and reality influences planning decisions.
5 Again for the sake of simplicity we exclude the possibility of choosing different techniques.
6 For both sets of data see Appendix
7Janacek (1972) p.76.
8Janacek (1972) p.95.
9 F. Holzman (1960), G. Garvy (1975), K. Bush (1974), G. Schroeder to quote only some western views.
10Janacek (1972) p.77.
11R. Portes (1977) p.2.
12In his empirical work Portes proceeded in a similar way (see Portes and Winter [1977] and [1978]), although he has recently (Portes 1976) also developed a theoretical framework for estimating the demand and supply consumption functions in disequilibrium conditions.
13The average annual consumption and saving ratios are shown in the Appendix
14

Unlike Milton Friedman's permanent income hypothesis we do assume positive correlation between "transitory consumption" and "transitory income".

15Schrettl (1974) p.87. He attributes this hypothesis to Hutchings, Manove, Thalheim and Zaleski.
16Schrettl (1974) p.92.
17Schrettl (1974) p.93.
18 R. Portes and D. Winter (1978).
19

 R. Portes and D. Winter (1978) p.363.

20

R. Portes, D. Winter (1978) p.356, They attribute this view to Brown, Neuberger and Holzman and to the participants of the NATO Colloquium of 1975.

21R. Portes, D. Winter (1978) p.360.
22W. Schrettl (1977).
23For the parallel estimates of Investment function see Kyn, Schrettl, Slama,(1979).
24For the justification of this specification see O. Kyn and L. Kyn (1976) and (1977)
25The multicollinearity does not allow for economically meaningful direct estimates of all parameters of the production function.

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