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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- Elhanan Helpman, 1987. "Macroeconomic Effects of Price Controls: The Role of Market Structure," NBER Working Papers 2434, National Bureau of Economic Research, Inc.
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