Methods of Estimation for Models of Markets with Bounded Price Variation

Abstract

The paper describes methods of estimation for models of markets with controlled prices. Many practical situations involving disequilibrium are due to price ceilings or price floors or both and thus fall.in the category of the models described here. The paper also distinguishes between "rationing models" where the short side of the market prevails, and "trading models" where no trading takes place if there is excess demand or excess supply

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