SSE/EFI Working Paper Series in Economics and Finance
No 470:
Prices, Margins and Liquidity Constraints: Swedish Newspapers 1990-1996
Marcus Asplund ()
, Rickard Eriksson and Niklas Strand
Abstract: For Swedish newspaper firms, a market with high switching
costs, the subscription market, and a market with low switching costs, the
advertising market, are of approximately equal importance. When Sweden
enters a deep recession, we find that liquidity constraints influence the
pricing decision in the former, but not the latter market. This gives
support to theories stressing the magnifying effect of liquidity
constraints on the business cycle.
Keywords: Liquidity constraints; switching costs; price adjustment; newspaper industry; (follow links to similar papers)
JEL-Codes: D43; E32; G33; L82; (follow links to similar papers)
22 pages, October 29, 2001
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- This paper is forthcoming as:
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Asplund, Marcus, Rickard Eriksson and Niklas Strand, 'Prices, Margins and Liquidity Constraints: Swedish Newspapers 1990-1996', Economica.
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