haku: @author Gottfries, N. / yhteensä: 7
viite: 6 / 7
| Tekijä: | Gottfries, N. |
| Otsikko: | Customer markets, credit markets imperfections and real price rigidity |
| Lehti: | Economica
1991 : AUG, VOL. 58:231, p. 317-323 |
| Asiasana: | CREDIT MARKETS CUSTOMERS PRICES COSTS PRICING MONEY MARKETS |
| Kieli: | eng |
| Tiivistelmä: | In order to characterize short-run pricing behaviour, price equations have been estimated by many authors. Such equations typically relate prices to costs, demand and other factors. A striking result in these studies is the absence of significant positive effects of demand on prices. An explanation of this observation is suggested. If customers react slowly to price changes and credit markets are imperfect, prices may be unchanged or even fall when demand incerases. The reason is that when demand is high, profits are high, and firms can compete more intensely for customers without increasing borrowing. |
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