Artikel

Price Rigidity and Flexibility: New Empirical Evidence - Introduction to the Special Issue

The marketplace, along with its price system, is the single most important institution in a western‐style free enterprise economy. The ability of prices to adjust to changes in supply and demand conditions enables the market to function efficiently, and that ability lies behind the magical invisible hand mechanism. The behaviour of prices and in particular the ability of prices to adjust to changes in market conditions, therefore, have fundamental implications for many key issues in many areas of both microeconomics as well as macroeconomics. It is, therefore, critical to study and understand whether there are barriers to price adjustments, what are the nature of these barriers, how the barriers lead to price rigidity, what are the possible implications of these rigidities, etc. This introductory essay briefly summarizes the 14 empirical studies of price rigidity that are included in this special issue.

Sprache
Englisch

Erschienen in
Journal: Managerial and Decision Economics ; ISSN: 1099-1468 ; Volume: 28 ; Year: 2007 ; Issue: 7 (Special Issue: Price Rigidity and Flexibility: New Empirical Evidence) ; Pages: 639-647 ; Hoboken: Wiley

Klassifikation
Wirtschaft
Firm Behavior: Theory
Market Structure, Pricing, and Design: General
General Aggregative Models: Keynes; Keynesian; Post-Keynesian
Price Level; Inflation; Deflation
Monetary Policy, Central Banking, and the Supply of Money and Credit: General
Monetary Policy
Central Banks and Their Policies
Production, Pricing, and Market Structure; Size Distribution of Firms
Industrial Organization and Macroeconomics: Industrial Structure and Structural Change; Industrial Price Indices
Business Economics: General
Marketing and Advertising: General
Thema
Price Rigidity
Price Flexibility
Cost of Price Adjustment
Menu Cost
Managerial and Customer Cost of Price Adjustment
Pricing
Price System
Price Setting
New Keynesian Economics
Store-Level Data
Micro-Level Data

Ereignis
Geistige Schöpfung
(wer)
Levy, Daniel
Ereignis
Veröffentlichung
(wer)
Wiley
ZBW – Leibniz Information Centre for Economics
(wo)
Hoboken
(wann)
2007

DOI
doi:10.1002/mde.1384
Handle
Letzte Aktualisierung
10.03.2025, 11:46 MEZ

Datenpartner

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Objekttyp

  • Artikel

Beteiligte

  • Levy, Daniel
  • Wiley
  • ZBW – Leibniz Information Centre for Economics

Entstanden

  • 2007

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