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| Tekijä: | Caminal, R. |
| Otsikko: | Inflation and optimal price adjustment under monopolistic competition |
| Lehti: | Economica
1992 : MAY, VOL. 59:234, p. 179-197 |
| Asiasana: | MONOPOLY COMPETITION INFLATION PRICING |
| Kieli: | eng |
| Tiivistelmä: | A model of a monopolistically competitive industry is considered. There are a large number of firms producing imperfect substitutes, an exogenous inflation rate and each firm must pay a fixed cost every time it adjusts its nominal price. It is shown that, under quite general conditions, there exists a continuum of periodic and synchronized equilibria, each one associated with different frequency of price adjustment. Consequently, the same frequency of price adjustment is compatible with full range of inflation rates. |
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