The choice between state- and time-dependent price rules

Klas Fregert

No 2008:6, Working Papers from Lund University, Department of Economics

Abstract: Large review costs lead to time-dependent price setting rules. State-dependent rules become more likely when there is an increase in: set-up costs, the variability of the equilibrium price or the efficiency loss associated with being away from equilibrium.

Keywords: time-dependent price rule; state-dependent price rule (search for similar items in EconPapers)
JEL-codes: E31 E32 (search for similar items in EconPapers)
Pages: 11 pages
Date: 2008-03-24
New Economics Papers: this item is included in nep-cba and nep-mac
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