Price Rigidity: Causes and Macroeconomic Implications Torben M. Andersen

ISBN: 9780198287605

Published: August 1st 1996

Hardcover

416 pages


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Price Rigidity: Causes and Macroeconomic Implications  by  Torben M. Andersen

Price Rigidity: Causes and Macroeconomic Implications by Torben M. Andersen
August 1st 1996 | Hardcover | PDF, EPUB, FB2, DjVu, AUDIO, mp3, ZIP | 416 pages | ISBN: 9780198287605 | 7.38 Mb

The price adjustment process is crucial to almost any macroeconomic issue. Anderson provides here a comprehensive and unified analysis of why prices may fail to adjust instantly, integrating the existing literature with his own new work on asymmetricMoreThe price adjustment process is crucial to almost any macroeconomic issue. Anderson provides here a comprehensive and unified analysis of why prices may fail to adjust instantly, integrating the existing literature with his own new work on asymmetric information and imperfect competition.

This unified treatment will allow readers to understand the mechanisms at work without becoming lost in technical details. This volume covers both real and nominal price ridigidites and integrates existing results from the literature with new results on causes for failures of price adjustment. Andersens 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.



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