Abstract
This chapter provides an important link in the construction of the empirical multimarket disequilibrium model: the measurement of the excess of demand over supply for each of the three markets in the model. Such information, which we have argued is essential for tractable empirical implementation of detailed disequilibrium models, is difficult to obtain. This is due to the spareness of economic data series containing the kind of market tension information that is required and a sparseness of economic theory about how such series should be related to excess demand. We shall first consider the labor market, where the most work has been done, and then the capital goods market and the consumer goods market.
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