this paper investigates this puzzle from both long-run and short-run perspectives and obtains some interesting results.In the short-run,due to its low concentration Chinese steel industry is in prisoner's dilemma equilibrium,which to some extent can well explain why iron ore import price always ...
Compare monopolistic competition and pure competition in terms of normal profits in the long run. Why must this occur? What generally happens to profits for the typical firm in the long run under monopolistic competition? What is short-run supply curve in perfect competition?
"The Role of Effective Demand in the Short Run and the Long Run", in Kaldor, N., Further Essays on Economic Theory, N. York: Holmes & Meier.Kaldor, N. (1989a[1983]). "The Role of Effective Demand in the Short Run and the Long Run", in Kaldor, N., Further Essays on Economic...
Learn about the short-run aggregate supply curve in running businesses. Understand the supply curve for short-run aggregate supply in concept and...
Moreover, the shift in the long-run equilibrium can be explained by differences in subprime originations across housing markets. We also find that short run price dynamics is driven by momentum in both segments of the market. This is a preview of subscription content, log in via an ...
This paper analyzes the long-run equilibrium properties and the short-run dynamics of the Bank of Italy quarterly econometric model. A demand-determined framework is shown to prevail in the short run, whereas supply behaviour and the dynamics of stocks (capital and wealth) are progressively more ...
Under perfect competition, in long-run equilibrium, P = MC = ATC. How can I understand equilibrium of the firm in the short run and long run (perfect competition)? Explain Short run and Long Run equilibrium of monopolistic competition firm. ...
The long-run insignificance of the real exchange rate movements on the trade balance and the importance of domestic income in determining trade patterns suggest that policies aimed at improving the countryrsquo;s trade competitiveness should first focus on internal supply-side policies that give a ...
Use the AD-AS graph to explain the short run and long run effects on real GDP and price level of a negative demand shock, such as a decrease in autonomous consumption. Use the self-correcting mechani In the short run (intermediate range) of the aggregate ...
Understanding the Short Run The short run as a constraint differs from the long run. In the short run, leases, contracts, and wage agreements limit a firm's ability to adjust production or wages to maintain a rate of profit. In the long run, there are no fixed costs; costs find balance...