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The Timing of Purchases, Market Power, and Economic Fluctuations

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Author Info

  • Parker, J.A.

Abstract

This paper analyzes a market in which sellers have power market and set price taking into account the ability of buyers to time their purchases. I demonstrate that expected fluctuations in demand are inherently fluctuations in the elasticity of demand, leading to smaller markups on the up-side of booms.

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File URL: http://www.ssc.wisc.edu/econ/archive/wp9723.pdf
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Bibliographic Info

Paper provided by Wisconsin Madison - Social Systems in its series Working papers with number 9723.

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Length: 33 pages
Date of creation: 1997
Date of revision:
Handle: RePEc:att:wimass:9723

Contact details of provider:
Postal: UNIVERSITY OF WISCONSIN MADISON, SOCIAL SYSTEMS RESEARCH INSTITUTE(S.S.R.I.), MADISON WISCONSIN 53706 U.S.A.

Related research

Keywords: PRICING ; DEMAND ; FLUCTUATIONS;

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References

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  1. Susanto Basu & John G. Fernald, 1994. "Constant returns and small markups in U.S. manufacturing," International Finance Discussion Papers 483, Board of Governors of the Federal Reserve System (U.S.).
  2. Robert E. Hall, 1986. "The Relation Between Price and Marginal Cost in U.S. Industry," NBER Working Papers 1785, National Bureau of Economic Research, Inc.
  3. Susanto Basu & John G. Fernald, 1995. "Aggregate productivity and the productivity of aggregates," International Finance Discussion Papers 532, Board of Governors of the Federal Reserve System (U.S.).
  4. Ricardo J. Caballero & Eduardo M. R. A. Engel & John C. Haltiwanger, 1995. "Plant-Level Adjustment and Aggregate Investment Dynamics," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 26(2), pages 1-54.
  5. Mortensen, Dale T., 1994. "The cyclical behavior of job and worker flows," Journal of Economic Dynamics and Control, Elsevier, vol. 18(6), pages 1121-1142, November.
  6. Bruce W Hamilton & Mary Burke, 1996. "The Coase Conjecture in Continuous Time: Imperfect Durability Endogenous Durability and Aftermarkets," Economics Working Paper Archive 362, The Johns Hopkins University,Department of Economics.
  7. Rotemberg, Julio J & Saloner, Garth, 1986. "A Supergame-Theoretic Model of Price Wars during Booms," American Economic Review, American Economic Association, vol. 76(3), pages 390-407, June.
  8. Nancy L. Stokey, 1981. "Rational Expectations and Durable Goods Pricing," Bell Journal of Economics, The RAND Corporation, vol. 12(1), pages 112-128, Spring.
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Cited by:
  1. Srour, Gabriel, 1998. "The Sale of Durable Goods by a Monopolist in a Stochastic Environment," Working Papers 98-18, Bank of Canada.
  2. Andrew Caplin & John Leahy, 1999. "Durable Goods Cycles," NBER Working Papers 6987, National Bureau of Economic Research, Inc.
  3. repec:att:wimass:9724 is not listed on IDEAS

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