Partial Adjustment of Prices Under Ration Expectation, A Study of the Canadian Textile Industry

Farid Novin

Working Paper from Economics Department, Queen's University

Abstract: This paper uses an Okun-type contract paradigm, where price adjustment is costly, due to lack of information. We apply Kennan's (1979) estimation technique to determine the relative price adjustment costs. The results for the Canadian textile industry demonstrate the partial adjustment of prices under rational expectations.

Pages: 24
Date: 1982
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Persistent link: https://EconPapers.repec.org/RePEc:qed:wpaper:479

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