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Excess Demand, Expectations and Price Changes

In: Business Pricing and Inflation

Author

Listed:
  • Malcolm C. Sawyer

    (University of York)

Abstract

In this chapter, we focus on the empirical evidence pertaining to theories of price change which give a central role to excess demand, set within the context of an essentially competitive market environment. We begin with a discussion of the problems which arise in testing such theories, particularly the measurement of crucial variables. After a brief survey of previous work in this area, we present a summary of the results of our own empirical investigation in this area for 40 British manufacturing industries over the period 1963 to 1975.

Suggested Citation

  • Malcolm C. Sawyer, 1983. "Excess Demand, Expectations and Price Changes," Palgrave Macmillan Books, in: Business Pricing and Inflation, chapter 3, pages 41-62, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-03166-5_3
    DOI: 10.1007/978-1-349-03166-5_3
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