Download or read book An Analysis of the Concept of Price Inflexibility written by Barbara Lin Whitmore and published by . This book was released on 1946 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Asking About Prices written by Alan Blinder and published by Russell Sage Foundation. This book was released on 1998-01-08 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why do consumer prices and wages adjust so slowly to changes in market conditions? The rigidity or stickiness of price setting in business is central to Keynesian economic theory and a key to understanding how monetary policy works, yet economists have made little headway in determining why it occurs. Asking About Prices offers a groundbreaking empirical approach to a puzzle for which theories abound but facts are scarce. Leading economist Alan Blinder, along with co-authors Elie Canetti, David Lebow, and Jeremy B. Rudd, interviewed a national, multi-industry sample of 200 CEOs, company heads, and other corporate price setters to test the validity of twelve prominent theories of price stickiness. Using everyday language and pertinent scenarios, the carefully designed survey asked decisionmakers how prominently these theoretical concerns entered into their own attitudes and thought processes. Do businesses tend to view the costs of changing prices as prohibitive? Do they worry that lower prices will be equated with poorer quality goods? Are firms more likely to try alternate strategies to changing prices, such as warehousing excess inventory or improving their quality of service? To what extent are prices held in place by contractual agreements, or by invisible handshakes? Asking About Prices offers a gold mine of previously unavailable information. It affirms the widespread presence of price stickiness in American industry, and offers the only available guide to such business details as what fraction of goods are sold by fixed price contract, how often transactions involve repeat customers, and how and when firms review their prices. Some results are surprising: contrary to popular wisdom, prices do not increase more easily than they decrease, and firms do not appear to practice anticipatory pricing, even when they can foresee cost increases. Asking About Prices also offers a chapter-by-chapter review of the survey findings for each of the twelve theories of price stickiness. The authors determine which theories are most popular with actual price setters, how practices vary within different business sectors, across firms of different sizes, and so on. They also direct economists' attention toward a rationale for price stickiness that does not stem from conventional theory, namely a strong reluctance by firms to antagonize or inconvenience their customers. By illuminating how company executives actually think about price setting, Asking About Prices provides an elegant model of a valuable new approach to conducting economic research.
Download or read book Price Rigidity written by Torben M. Andersen and published by Oxford University Press on Demand. This book was released on 1994 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt: The price adjustment process is crucial to almost any macroeconomic issue. Current macroeconomic literature features widely different models ranking from instantaneous price adjustment to completely rigid prices. Professor Andersen provides a comprehensive analysis of reasons why prices may fail to adjust instantaneously to changes in market conditions. This unified treatment will allow the reader to understand the mechanisms at work without becoming lost in technical details. This volume covers both real and nominal price rigidities and integrates existing results from the literature with new results on causes for failures of price adjustment. The analysis of real price rigidities includes inventories, customer markets, search and collusive behaviour. Due to the focus on macroeconomic implications, the analysis of nominal price rigidities is extensive and includes menu costs, informational problems, asynchronized price setting as well as the interaction between price and wage setting. Professor Andersen's own theoretical work on imperfect information, a prime source of price and wage rigidity, is given prominence in the book. The volume is thus a combination of a valuable survey of the literature, and an original expression of future possible research avenues.
Download or read book Price Flexibility and Employment written by Oskar Lange and published by . This book was released on 1944 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Distributional Implications of the Impact of Fuel Price Increases on Inflation written by Mr. Kangni R Kpodar and published by International Monetary Fund. This book was released on 2021-11-12 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the response of consumer price inflation to changes in domestic fuel prices, looking at the different categories of the overall consumer price index (CPI). We then combine household survey data with the CPI components to construct a CPI index for the poorest and richest income quintiles with the view to assess the distributional impact of the pass-through. To undertake this analysis, the paper provides an update to the Global Monthly Retail Fuel Price Database, expanding the product coverage to premium and regular fuels, the time dimension to December 2020, and the sample to 190 countries. Three key findings stand out. First, the response of inflation to gasoline price shocks is smaller, but more persistent and broad-based in developing economies than in advanced economies. Second, we show that past studies using crude oil prices instead of retail fuel prices to estimate the pass-through to inflation significantly underestimate it. Third, while the purchasing power of all households declines as fuel prices increase, the distributional impact is progressive. But the progressivity phases out within 6 months after the shock in advanced economies, whereas it persists beyond a year in developing countries.
Download or read book Post Keynesian Price Theory written by Frederic S. Lee and published by Cambridge University Press. This book was released on 1999-02-04 with total page 293 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book sets out the foundations of post-Keynesian price theory. Blending theory and analysis it is the first comprehensive assessment of post-Keynesian price theory and its foundations. Scholars and students will particularly welcome the emphasis on the non-neoclassical and non-equilibrium nature of post-Keynesian price theory.
Download or read book Flexibility and Real Estate Valuation under Uncertainty written by David Geltner and published by John Wiley & Sons. This book was released on 2018-04-30 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides a revolutionary conceptual framework and practical tools to quantify uncertainty and recognize the value of flexibility in real estate development This book takes a practical "engineering" approach to the valuation of options and flexibility in real estate. It presents simple simulation models built in universal spreadsheet software such as Microsoft Excel®. These realistically reflect the varying and erratic sources of uncertainty and price dynamics that uniquely characterize real estate. The text covers new analytic procedures that are valuable for existing properties and enable a new, more profitable perspective on the planning, design, operation, and evaluation of large-scale, multi-phase development projects. The book thereby aims to significantly improve valuation and investment decision making. Flexibility and Real Estate Valuation under Uncertainty: A Practical Guide for Developers is presented at 3 levels. First, it introduces and explains the concepts underlying the approach at a basic level accessible to non-technical and non-specialized readers. Its introductory and concluding chapters present the important “big picture” implications of the analysis for economics and valuation and for project design and investment decision making. At a second level, the book presents a framework, a roadmap for the prospective analyst. It describes the practical tools in detail, taking care to go through the elements of the approach step-by-step for clarity and easy reference. The third level includes more technical details and specific models. An Appendix discusses the technical details of real estate price dynamics. Associated web pages provide electronic spreadsheet templates for the models used as examples in the book. Some features of the book include: • Concepts and tools that are simple and accessible to a broad audience of practitioners; • An approach relevant for all development projects; • Complementarity with the author's Commercial Real Estate Analysis & Investments—the most-cited real estate investments textbook on the market. Flexibility and Real Estate Valuation under Uncertainty: A Practical Guide for Developers is for everyone studying or concerned with the implementation of large-scale or multi-phase real estate development projects, as well as property investment and valuation more generally.
Download or read book Money Banking and the Business Cycle written by Brian P. Simpson and published by Springer. This book was released on 2015-12-11 with total page 509 pages. Available in PDF, EPUB and Kindle. Book excerpt: Money, Banking, and the Business Cycle provides a comprehensive framework for analyzing these mechanisms, and offers a robust prescription for reducing financial instability over the long-term. Volume I bridges tough economic theory with empirical evidence.
Download or read book Keynes Chicago and Friedman Volume 1 written by Robert Leeson and published by Taylor & Francis. This book was released on 2024-10-28 with total page 393 pages. Available in PDF, EPUB and Kindle. Book excerpt: These two volumes present essays on the subdiscipline of Chicago Monetarism in economics. Some of the issues under dispute can be regarded as resolved, while others are still being debated. The contibutors include Friedman, Patinkin, Harry Johnson and James Tobin.
Download or read book Real Options written by Lenos Trigeorgis and published by MIT Press. This book was released on 1996-03-14 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt: Comprehensive in scope, Real Options reviews current techniques of capital budgeting and details an approach (based on the pricing of options) that provides a means of quantifying the elusive elements of managerial flexibility in the face of unexpected changes in the market. In the 1970s and the 1980s, developments in the valuation of capital-investment opportunities based on options pricing revolutionized capital budgeting. Managerial flexibility to adapt and revise future decisions in order to capitalize on favorable future opportunities or to limit losses has proven vital to long-term corporate success in an uncertain and changing marketplace. In this book Lenos Trigeorgis, who has helped shape the field of real options, brings together a wealth of previously scattered knowledge and research on the new flexibility in corporate resource allocation and in the evaluation of investment alternatives brought about by the shift from static cash-flow approaches to the more dynamic paradigm of real options—an approach that incorporates decisions on whether to defer, expand, contract, abandon, switch use, or otherwise alter a capital investment. Comprehensive in scope, Real Options reviews current techniques of capital budgeting and details an approach (based on the pricing of options) that provides a means of quantifying the elusive elements of managerial flexibility in the face of unexpected changes in the market. Also discussed are the strategic value of new technology, project interdependence, and competitive interaction. The ability to value real options has so dramatically altered the way in which corporate resources are allocated that future textbooks on capital budgeting will bear little resemblance to those of even the recent past. Real Options is a pioneer in this area, coupling a coherent picture of how option theory is used with practical insights in into real-world applications.
Download or read book Administered Prices written by United States. Congress. Senate. Committee on the Judiciary. Subcommittee on Antitrust and Monopoly and published by . This book was released on 1957 with total page 1602 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examines the impact of administered prices in concentrated industries on the cost of living. Also compares market pricing mechanisms of agricultural industries with administered pricing practices of manufacturing industries.
Download or read book Materials Prepared in Connection with the Study of Employment Growth and Price Levels for Consideration by the Joint Economic Committee written by United States. Congress. Joint Economic Committee and published by . This book was released on 1959 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Introductory Economic Theory NEHU Shillong written by HL Ahuja and published by S. Chand Publishing. This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This book begins with an introduction to economics highlighting the economic problem of scarcity and choice. Further, it goes on and discusses the scope of economics as well as acquaints the students with the methodologies of economics. Basic microeconomic concepts such as demand, supply, competitive market equilibrium, elasticity and indifference curve analysis of demand have been explained in a simple and lucid manner. The book also dwells into theories of production, distribution, rent, interest and profits. It also discusses the market structures prevailing in the capitalist economy, namely, perfect competition and imperfect competition; thoroughly highlighting the sub categories of imperfect competition such as monopolistic competition, oligopoly and monopoly. Concepts of average revenue and marginal revenue have also been discussed in the book.
Download or read book J A Hobson after Fifty Years written by John Pheby and published by Springer. This book was released on 2016-07-27 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: J.A. Hobson has not always received the attention he deserves. This collection of essays, drawn from the conference to celebrate the fiftieth anniversary of his death, will go a considerable way in rectifying this situation. This volume contains contributions from many of the leading scholars on Hobson. They are writing on a wide range of subjects from political theory, moral philosophy, imperialism, international relations to economics.
Download or read book Karl Brunner and Monetarism written by Thomas Moser and published by MIT Press. This book was released on 2022-03-15 with total page 505 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economists consider the legacy of Karl Brunner’s monetarism and its influence on current debates over monetary policy. Monetarism emerged in the 1950s and 1960s as a school of economic thought that questioned certain tenets of Keynesianism. Emphasizing the monetary nature of inflation and the responsibility of central banks for price stability, monetarism held sway in the inflation-plagued 1970s, but saw its influence begin to decline in the 1980s. Although Milton Friedman is the economist most closely associated with the development of monetarism, it was Karl Brunner (1916–1989) who introduced the term into the current vocabulary of economics and shaped its meaning. In this volume, leading economists—many of them Brunner’s friends and former colleagues—consider the influence of Brunner’s monetarism on current debates over monetary policy. Some contributors were participants in debates between Keynesians and monetarists; others analyze specific aspects of monetarism as theorized by Brunner and his close collaborator Allan Meltzer, or address its influence on US and European monetary policy. Others take the opportunity to examine Brunner-Meltzer monetarism through the lens of contemporary macroeconomics and monetary models. The book grows out of a symposium that marked the 100th anniversary of Brunner’s birth. Contributors Ernst Baltensperger, Michael D. Bordo, Pierrick Clerc, Alex Cukierman, Michel De Vroey, James Forder, Benjamin M. Friedman, Kevin D. Hoover, Thomas J. Jordan, David Laidler, Allan H. Meltzer, Thomas Moser, Edward Nelson, Juan Pablo Nicolini, Charles I. Plosser, Kenneth Rogoff, Marcel Savioz, Jürgen von Hagen, Stephen Williamson
Download or read book Financial Macroeconomics written by Jan A. Kregel and published by Anthem Press. This book was released on 2024-08-13 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: The title of this book may seem to confuse two separate disciplines – finance and macroeconomics. However, it is based on the fact that finance and macroeconomics were integrated, at least in their formative years. It is a natural extension of a line of research that dominated monetary theory in the early part of the 20th century. Economists such as Keynes, Robertson, Hawtrey, Fisher, Hayek, and Schumpeter sought to blend the analysis of business cycles with their (often first-hand) experience of money and financial markets. The result was a monetary theory that provided the fertile background to what came to be called macroeconomics. However, in the post-war period, the monetary aspects of this theory dropped out of sight in the neo-classical synthesis and hydraulic Keynesianism. Post-Keynesians such as Davidson and Minsky have done much to try to restore the monetary aspects of the theory, but the other – more technical– aspects of financial analysis have been ignored. This book aims to show how technical aspects of financial were initially part of the early investigations of macroeconomics and how they may be used to provide a realistic analysis of the behavior of modern financial economies.
