search query: @author Shaller, D. R. / total: 2
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| Author: | Shaller, D. R. Tsunemasa, S. |
| Title: | Price smoothing and demand noise: on business behaviour and macromodels |
| Journal: | Weltwirtschaftliches Archiv
1989 : VOL. 125:1, p. 83-96 |
| Index terms: | CONTRACTS PRICES MACROECONOMIC MODELS |
| Language: | eng |
| Abstract: | In an economy with price setting firms and variable demand, price smoothing contracts are mutually advantageous on micro level. On macro level however, in a noisy environment firms tend to perceive permanent demand shifts as transitory what leads to price rigidity, and contributes to the propagation of the business cycle. This thesis is tested on aggregate US quarterly data. |
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