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Prices, Margins and Liquidity Constraints: Swedish Newspapers 1990-1996

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Author Info
Asplund, Marcus () (Department of Economics, London Business School)
Eriksson, Rickard (Dept. of Economics, Stockholm School of Economics)
Strand, Niklas (Dept. of Economics, Stockholm School of Economics)

Additional information is available for the following registered author(s):

Abstract

For Swedish newspaper firms, a market with high switching costs, the subscription market, and a market with low switching costs, the advertising market, are of approximately equal importance. When Sweden enters a deep recession, we find that liquidity constraints influence the pricing decision in the former, but not the latter market. This gives support to theories stressing the magnifying effect of liquidity constraints on the business cycle.

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Publisher Info
Paper provided by Stockholm School of Economics in its series Working Paper Series in Economics and Finance with number 470.

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Length: 22 pages
Date of creation: 29 Oct 2001
Date of revision:
Publication status: Forthcoming in Economica.
Handle: RePEc:hhs:hastef:0470

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Postal: The Economic Research Institute, Stockholm School of Economics, P.O. Box 6501, 113 83 Stockholm, Sweden
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Related research
Keywords: Liquidity constraints; switching costs; price adjustment; newspaper industry;

Other versions of this item:

Find related papers by JEL classification:
D43 - Microeconomics - - Market Structure and Pricing - - - Oligopoly and Other Forms of Market Imperfection
E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
G33 - Financial Economics - - Corporate Finance and Governance - - - Bankruptcy; Liquidation
L82 - Industrial Organization - - Industry Studies: Services - - - Entertainment; Media

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References listed on IDEAS
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    Other versions:
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