Output Fluctuations and Gradual Price Adjustment
This paper reviews the leading ideas that have emerged within two paradigms of price adjustment. Neither, it appears, provides a satisfactory theoretical scheme when taken in isolation. This paper concludes that an attempt to merge the more convincing elements of each is needed, and some suggestions for such a merger are put forward.
(This abstract was borrowed from another version of this item.)
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 19 (1981)
Issue (Month): 2 (June)
|Contact details of provider:|| Web page: https://www.aeaweb.org/journal|
More information through EDIRC
|Order Information:||Web: https://www.aeaweb.org/subscribe.html|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Drazen, Allan, 1980. "Recent Developments in Macroeconomic Disequilibrium Theory," Econometrica, Econometric Society, vol. 48(2), pages 283-306, March.
- Iwai, Katsuhito, 1974. "The Firm in Uncertain Markets and Its Price, Wage and Employment Adjustments," Review of Economic Studies, Wiley Blackwell, vol. 41(2), pages 257-76, April.
- DREZE, Jacques H., .
"Existence of an exchange equilibrium under price rigidites,"
CORE Discussion Papers RP
-225, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Dreze, Jacques H, 1975. "Existence of an Exchange Equilibrium under Price Rigidities," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 16(2), pages 301-20, June.
- Barro, Robert J, 1972. "A Theory of Monopolistic Price Adjustment," Review of Economic Studies, Wiley Blackwell, vol. 39(1), pages 17-26, January.
- Victor P. Goldberg, 1976. "Regulation and Administered Contracts," Bell Journal of Economics, The RAND Corporation, vol. 7(2), pages 426-448, Autumn.
- Richard B. Heflebower, 1955. "Full Costs, Cost Changes, and Prices," NBER Chapters, in: Business Concentration and Price Policy, pages 361-396 National Bureau of Economic Research, Inc.
- Gray, Jo Anna, 1976. "Wage indexation: A macroeconomic approach," Journal of Monetary Economics, Elsevier, vol. 2(2), pages 221-235, April.
- Dennis W. Carlton, 1980. "Modeling Price Rigidity or Predicting the Quality of the Good that Clears the Market," NBER Working Papers 0503, National Bureau of Economic Research, Inc.
- Robert E. Hall, 1980. "Employment Fluctuations and Wage Rigidity," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 11(1, Tenth ), pages 91-142.
- Frydman, Roman, 1981. "Sluggish Price Adjustments and the Effectiveness of Monetary Policy under Rational Expectations: A Comment," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 13(1), pages 94-102, February.
- Barro, Robert J & Grossman, Herschel I, 1971. "A General Disequilibrium Model of Income and Employment," American Economic Review, American Economic Association, vol. 61(1), pages 82-93, March.
- Hahn, Frank H, 1977.
" Exercises in Conjectural Equilibria,"
Scandinavian Journal of Economics,
Wiley Blackwell, vol. 79(2), pages 210-26.
- Carlton, Dennis W, 1978.
"Market Behavior with Demand Uncertainty and Price Inflexibility,"
American Economic Review,
American Economic Association, vol. 68(4), pages 571-87, September.
- D. W. Carlton, 1976. "Market Behavior With Demand Uncertainty and Price Inflexibility," Working papers 179, Massachusetts Institute of Technology (MIT), Department of Economics.
- Blinder, Alan S. & Fischer, Stanley, 1981.
"Inventories, rational expectations, and the business cycle,"
Journal of Monetary Economics,
Elsevier, vol. 8(3), pages 277-304.
- A. S. Blinder & S. Fischer, 1978. "Inventories, Rational Expectations, and the Business Cycle," Working papers 220, Massachusetts Institute of Technology (MIT), Department of Economics.
- Alan S. Blinder & Stanley Fischer, 1979. "Inventories, Rational Expectations, and the Business Cycle," NBER Working Papers 0381, National Bureau of Economic Research, Inc.
- Benassy, Jean-Pascal, 1975.
"Neo-Keynesian Disequilibrium Theory in a Monetary Economy,"
Review of Economic Studies,
Wiley Blackwell, vol. 42(4), pages 503-23, October.
- Benassy Jean-pascal, 1974. "Neokeynesian disequilibrium theory in a monetary economy," CEPREMAP Working Papers (Couverture Orange) 7402, CEPREMAP.
- repec:cup:cbooks:9780521068659 is not listed on IDEAS
- John F. Boschen & Herschel I. Grossman, 1981.
"Tests of Equilibrium Macroeconomics Using Contemporaneous Monetary Data,"
NBER Working Papers
0558, National Bureau of Economic Research, Inc.
- Boschen, John F. & Grossman, Herschel I., 1982. "Tests of equilibrium macroeconomics using contemporaneous monetary data," Journal of Monetary Economics, Elsevier, vol. 10(3), pages 309-333.
- Blinder, Allan S., 1977. "Indexing the economy through financial intermediation," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 5(1), pages 69-105, January.
- Brunner, Karl & Meltzer, Allan H., 1977. "Stabilization of the domestic and international economy," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 5(1), pages 1-6, January.
- Lucas, Robert Jr., 1972. "Expectations and the neutrality of money," Journal of Economic Theory, Elsevier, vol. 4(2), pages 103-124, April.
When requesting a correction, please mention this item's handle: RePEc:aea:jeclit:v:19:y:1981:i:2:p:493-530. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jane Voros)or (Michael P. Albert)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.