Macroeconomic Effects of Price Controls: The Role of Market Structure
AbstractPrice controls were part of Israel's stabilization program of July 1985. Some results of the program seem to be inconsistent with competitive macroeconomic models. It is suggested that these results are consistent with an economy that has an oligopolistic market structure. This paper explores the effects of market structure on macroeconomic performance in the presence and absence of price control. Copyright 1988 by Royal Economic Society.
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Bibliographic InfoArticle provided by Royal Economic Society in its journal The Economic Journal.
Volume (Year): 98 (1988)
Issue (Month): 391 (June)
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Other versions of this item:
- Elhanan Helpman, 1989. "Macroeconomic Effects of Price Controls: The Role of Market Structure," NBER Working Papers 2434, National Bureau of Economic Research, Inc.
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- Leiderman, Leonardo & Liviatan, Nissan, 1989. "Macroeconomic performance before and after disinflation in Israel," Policy Research Working Paper Series 311, The World Bank.
- Reyna-Cerecero, Mario & Mavrotas, George, 2003. "Inflation, Output and Perfectly Enforceable Price Controls in Orthodox and Heterodox Stabilization Programmes," Working Paper Series UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER).
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- Agenor, Pierre-Richard, 1995. "Credibility effects of price controls in disinflation programs," Journal of Macroeconomics, Elsevier, vol. 17(1), pages 161-171.
- van Wijnbergen, Sweder, 1991. "Should price reform proceed gradually or in a"big bang?"," Policy Research Working Paper Series 702, The World Bank.
- Carlos M. Asilis & Pierre-Richard AgÃ©nor, 1993.
"Price Controls and Electoral Cycles,"
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