Abstract
This book presents a summary of the conference work done by the International Economic Association of relative price changes. The contributors focus on the roles of relative prices in socialist and capitalist economics and discuss such topics as the development of mathematical models of socialist economics; methods of comparing structure and performance in different economic systems; the forecasting of relative prices; the relationship between taxes, relative prices, and trade; the impact of oil price shocks; the contribution of economic models to an understanding of the role of relative prices to adjustment; the role of exchange rates and terms of trade in adjustment; and policy measures designed to reduce the impact of uncertainty on economic development.
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