Sticky Prices, Coordination and Enforcement
Author | : John Christopher Driscoll |
Publisher | : |
Total Pages | : 44 |
Release | : 2003 |
Genre | : Cartels |
ISBN | : |
Download Sticky Prices Coordination And Enforcement full books in PDF, epub, and Kindle. Read online free Sticky Prices Coordination And Enforcement ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Author | : John Christopher Driscoll |
Publisher | : |
Total Pages | : 44 |
Release | : 2003 |
Genre | : Cartels |
ISBN | : |
Author | : Jeremy Bay Rudd |
Publisher | : |
Total Pages | : 48 |
Release | : 2003 |
Genre | : Inflation (Finance) |
ISBN | : |
Author | : Jim Granato |
Publisher | : Cambridge University Press |
Total Pages | : 336 |
Release | : 2006-03-13 |
Genre | : Business & Economics |
ISBN | : 9780521860161 |
This book's central theme is that a policymaker's role is to enhance the public's ability to coordinate their price information, price expectations, and economic activities. This role is fulfilled when policymakers maintain inflation stability. Inflation persists less when an implicit or explicit inflation target is met. Granato and Wong argue that inflation persistence is reduced when the public substitutes the prespecified inflation target for past inflation. A by-product of this co-ordination process is greater economic stability. In particular, inflation stability contributes to greater economic output stability, including the potential for the simultaneous reduction of both inflation and output variability - inflation-output co-stabilization (IOCS). Granato and Wong use historical, formal, and applied statistical analysis of business-cycle performance in the United States for the 1960 to 2000 period. They find that during periods when policymakers emphasize inflation stability, inflation uncertainty and persistence were reduced.
Author | : Jeremy Bay Rudd |
Publisher | : |
Total Pages | : 50 |
Release | : 2003 |
Genre | : Inflation (Finance) |
ISBN | : |
Author | : John Christopher Driscoll |
Publisher | : |
Total Pages | : 54 |
Release | : 2003 |
Genre | : Inflation (Finance) |
ISBN | : |
Author | : Rochelle Mary Edge |
Publisher | : |
Total Pages | : 58 |
Release | : 2003 |
Genre | : Industrial productivity |
ISBN | : |
Author | : William C. Whitesell |
Publisher | : |
Total Pages | : 64 |
Release | : 2005 |
Genre | : Anti-inflationary policies |
ISBN | : |
Author | : Adam Copeland |
Publisher | : |
Total Pages | : 62 |
Release | : 2005 |
Genre | : Automobile industry and trade |
ISBN | : |
"This paper studies the within-model-year pricing and production of new automobiles. Using new monthly data on U.S. transaction prices, we document that for the typical new vehicle, prices typically fall over the model year at a 9.2 percent annual rate. Concurrently, both sales and inventories are hump shaped. To explain these time series, we formulate a market equilibrium model for new automobiles in which inventory and pricing decisions are made simultaneously. On the demand side, we use micro-level data to estimate time-varying aggregate demand curves for each vehicle. On the supply side, we solve a dynamic programming model of an automaker that, while able to produce only one vintage of a product at a time, may accumulate inventories and consequently sell multiple vintages of the same product simultaneously. The profit maximizing pricing and production strategies under a build-to-stock inventory policy imply declining prices and hump-shaped sales and inventories of the magnitudes observed in the data. Further, roughly half of the price decline is driven by inventory control considerations, as opposed to decreasing demand"--Abstract.
Author | : Gerard H. Kuper |
Publisher | : Springer Science & Business Media |
Total Pages | : 274 |
Release | : 2012-12-06 |
Genre | : Business & Economics |
ISBN | : 1461515491 |
Coordination and Growth: Essays in Honour of Simon K. Kuipers, addresses a rich variety of coordination issues in macroeconomics. It contains detailed studies in economic policy, monetary economics, and growth theory and uses various methodologies to address the coordination issue: from a pure theoretical to an empirical econometric approach. It is stressed that modern macroeconomics should focus on coordination issues. Imperfections of various kinds are likely to lead to coordination failures, which can lead to large welfare losses. Macroeconomists should address the causes and implications of imperfections and failures. In this book attempts are made to increase our knowledge in this field. The book is a tribute to one of the leading Dutch macroeconomists, Simon K. Kuipers. Simon Kuipers shows a major interest in the theory of capital (following e.g. Harrod), growth theory (following Solow), monetary theory (following Tobin), and disequilibrium theory (following Malinvaud and Benassy). The lines of thought have in common that they use frictions to explain the functioning of a market economy. The nature of the frictions varies from pure quantity rationing, like in the Malinvaud analysis, to imperfect substitution of various capital goods (like in the vintage models or assets (in the general monetary equilibrium models proposed by Tobin). Kuipers is not only interested in pure theoretical contributions, he also stimulates econometric work in line with the Dutch tradition initiated by Tinbergen. His applied work relates to policy analysis and policy prescriptions in many fields, ranging from monetary economics to distortions in the labour market. Kuipers can be classified as a true Keynesian, although he admires neoclassical theory for its rigour and compactness. Better still, he is an eclectic economist with an open eye for the different schools of thought in macroeconomics.
Author | : Carl E. Walsh |
Publisher | : MIT Press |
Total Pages | : 636 |
Release | : 2003 |
Genre | : Business & Economics |
ISBN | : 9780262232319 |
An overview of recent theoretical and policy-related developments in monetary economics.