Dynamic (S,S) Economies
In this paper, the authors provide a framework to study the aggregate dynamic behavior of an economy where individual units follow (S, s) policies and are subject to aggregate and idiosyncratic shocks. They characterize structural and stochastic heterogeneities that ensure convergence of the economy's aggregate to that of its (stochastic) frictionless counterpart, determine the speed at which convergence takes place, and describe the transitional dynamics of this economy. They study the evolution of the economy's aggregate and the evolution of the difference between this aggregate and that of the difference between this aggregate and that of an economy without microeconomic friction, where the latter pertains to a situation where individual units adjust with no delay to all shocks. Copyright 1991 by The Econometric Society.
(This abstract was borrowed from another version of this item.)
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
|Date of creation:||1990|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: (212) 854-3680
Fax: (212) 854-8059
Web page: http://www.econ.columbia.edu/
More information through EDIRC
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.:
- Caplin, Andrew S & Spulber, Daniel F, 1987.
"Menu Costs and the Neutrality of Money,"
The Quarterly Journal of Economics,
MIT Press, vol. 102(4), pages 703-25, November.
- Caplin, Andrew S, 1985. "The Variability of Aggregate Demand with (S, s) Inventory Policies," Econometrica, Econometric Society, vol. 53(6), pages 1395-1409, November.
- Benabou, Roland, 1989.
"Optimal Price Dynamics and Speculation with a Storable Good,"
Econometric Society, vol. 57(1), pages 41-80, January.
- Benabou, Roland, 1987. "Optimal price dynamics and speculation with a storable good," CEPREMAP Working Papers (Couverture Orange) 8708, CEPREMAP.
- Akerlof, George A, 1979. "Irving Fisher on His Head: The Consequences of Constant Threshold-Target Monitoring of Money Holdings," The Quarterly Journal of Economics, MIT Press, vol. 93(2), pages 169-87, May.
When requesting a correction, please mention this item's handle: RePEc:clu:wpaper:1990_44. 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: (Discussion Paper Coordinator)
If references are entirely missing, you can add them using this form.