search query: @author Reid, G. / total: 5
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| Author: | Bhaskar, V. Machin, S. Reid, G. |
| Title: | Price and quantity adjustment over the business cycle: evidence from survey data |
| Journal: | Oxford Economic Papers
1993 : APR, VOL. 45, p. 257-268 |
| Index terms: | PRICES QUANTITY SURVEYS BUSINESS CYCLES |
| Language: | eng |
| Abstract: | This paper analyses responses to an administered questionnaire in which owner-managers of 73 small firms were asked how they would respond to booms an recessions. Responses suggest that quantity adjustments to demand fluctuations are more important than price adjustments. There is also evidence that downward price adjustments are more likely in recessions than are upward price changes in booms, but this asymmetry is absent in firms with cash flow problems. This tallies with the predictions of a recent customer markets model. |
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