A Model of Price AdjustmentNo abstract is available for this item.doi:10.1016/0022-0531(71)90013-5Peter A. DiamondElsevierJournal of Economic Theory
This paper investigates the theoretical and empirical properties of a model of aggregate supply behavior that was introduced in the 1970s but has received inadequate attention. The model postulates that price changes occur so as to gradually eliminate discrepancies between actual and market-clearing valu...
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Figure 1. Example of stock price forecast. Hence, we need to reconsider the feasibility and necessity of finding a model that can precisely forecast stock prices in real time. Stock prices are affected by both internal factors, such as the company’s performance, and external factors, such ...
properties of one particular model of aggregate supply behavior that has not, in my opinion, attracted the attention that it deserves. The model in question features price-level stickiness-i.e., gradual adjustment in response to shocks-but nevertheless has several “classical” characteristics. Its...
Firms adjust their prices flexibly in response to variations in this demand curve, in the context of an otherwise standard dynamic neoclassical model of monopolistic competition. The resulting theory of price adjustment is starkly at variance with past theories. We find that – in line with the ...
We revisit the empirical modelling of house prices and household debt with a policy-oriented perspective using Norwegian data over the last four decades within the cointegrated VAR model. Our findings suggest, in line with previous work, a long-run mutually reinforcing relationship between these ...
In many cases, an object contains the ID of a related object in its response properties. For example, aChargemight have an associated Customer ID. You can expand these objects in line with the expand request parameter. Theexpandablelabel in this documentation indicates ID fields that you can ...
This feature differs from the standard economic model of the firm, which has a single decision-maker choosing prices, but is consistent with actual practice. Generally, prices are the result of a process within a firm involving various employees with different responsibilities. As this second ...