A frontier approach to disequilibrium models

Kaddour Hadri ()

Applied Economics Letters, 1997, vol. 4, issue 11, 699-701

Abstract: Due to aggregation (Muellbauer, 1978), market frictions (Benassy, 1982) and stochastic manipulable perceived rationing (Weinrich, 1984) it is very likely that the quantity transacted is less than the short side of a market affected by quantity rationing. This is we might observe in a given market simultaneously excess demand and excess supply. In this paper we suggest a frontier approach to specify these inefficiencies in disequilibrium models. This is done essentially by adding a truncated disturbance term to the traditional symmetric error. The new specification allows us to test for the presence of any type of inefficiency.

Date: 1997
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
http://www.informaworld.com/openurl?genre=article& ... 40C6AD35DC6213A474B5 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:apeclt:v:4:y:1997:i:11:p:699-701

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/RAEL20

DOI: 10.1080/758530652

Access Statistics for this article

Applied Economics Letters is currently edited by Anita Phillips

More articles in Applied Economics Letters from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().