Monopolistic price setting and supply rigidities in a disequilibrium framework

被引:4
|
作者
Smolny, W
机构
[1] University of Konstanz, D-78434 Konstanz
关键词
D O I
10.1007/s001990050182
中图分类号
F [经济];
学科分类号
02 ;
摘要
A model of the firm with a delayed adjustment of prices and employment is analyzed. Prices and employment are determined under uncertainty about the location of the demand curve. Three models are distinguished: price setting with predetermined supply, employment determination with pre-determined prices, and a simultaneous price and employment determination. It is shown that many of the results of the deterministic case can be transfered to the stochastic set-up. The deterministic model is included as a special case. However, the model allows for supply rigidities and labour hoarding and permits the analysis of price adjustment.
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页码:157 / 169
页数:13
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