Full-text resources of CEJSH and other databases are now available in the new Library of Science.
Visit https://bibliotekanauki.pl

Results found: 2

first rewind previous Page / 1 next fast forward last

Search results

Search:
in the keywords:  PRICE RIGIDITY
help Sort By:

help Limit search:
first rewind previous Page / 1 next fast forward last
1

Rigidity of Prices in the Light of a Kinked Demand Curve

100%
Mielcarek J.
Ekonomista
|
2005
|
issue 3
345-372
EN
Analyses of the properties of and the conditions under which the kinked demand curve emerges lead to the formulation of several important conclusions and hypotheses. The article dwells, among other issues, on the breadth of function's discontinuity, shifts of the demand curve, price rigidity as well as on the impacts exerted by the cost and demand shocks. The demonstrated complexity of the kinked demand curve concept, together with the arrived at conclusions, allow the author to regard this concept as the most general mode of explaining the oligopoly operation in modern times. In particular, this model helps to understand price rigidity.
2

PRÍNOS JOSEPHA E. STIGLITZA, NOSITEĽA NOBELOVEJ CENY ZA EKONÓMIU K ROZVOJU EKONOMICKEJ VEDY

88%
Martincová M.
Ekonomický časopis (Journal of Economics)
|
2005
|
vol. 53
|
issue 7
695-709
EN
Joseph Stiglitz stressed the fact that in the classical or neoclassical market models the key component is the assumption that the market is perfect. Buyer and seller have the same power and chance to get satisfactory price. The real market, though, is not perfect. On the one side there are subjects with privileges whereas on the other there are participants which are aggrieved. According to Stiglitz this unequal access to the information as well as the different positions of the market participants are characteristic for the real market. His important contribution is the explanation of the fact why the prices and wages can remain on non-steady levels in the long run - they are rigid. He layed out some alternative theoretical explanations of this phenomenon. He suggests to define a macroeconomic theory based on the theories of the imperfect competition and the imperfect information.
first rewind previous Page / 1 next fast forward last
JavaScript is turned off in your web browser. Turn it on to take full advantage of this site, then refresh the page.