Intertemporal price competition with exogenous demand shocks

Kasper Leufkens and Ronald Peeters

Economics Letters, 2008, vol. 99, issue 2, 301-303

Abstract: In this paper we show that in a differentiated product market, the presence of exogenous demand shocks leads to countercyclical price behavior when firms are committed to prices in the short run.

Date: 2008
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