Preis- und Mengenreaktionen bei Informationsmängeln auf dem Gütermarkt / Price and Quantity Reactions on Product Markets with Imperfect Information

Mathias Erlei

Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), 1995, vol. 214, issue 2, 175-194

Abstract: On a product market costumers’ search costs bring about a kink in a firm’s conjectural demand curve. As a consequence different unemployment regimes are derived from different kinds of labor markets. Then the effects of demand policy are analyzed. In case of static expectations demand policy is effective and full employment can be realized by deficit spending. In case of adaptive expectations demand policy is effective as long as it does not cause prices to rise. In case of “classical expectations” demand policy is ineffective. Finally, it shows that supply side policy is only effective in the long run.

Date: 1995
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Persistent link: https://EconPapers.repec.org/RePEc:jns:jbstat:v:214:y:1995:i:2:p:175-194

DOI: 10.1515/jbnst-1995-0206

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