Working Papers, Department of Economics, Lund University
The choice between state- and time-dependent price rules
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; (follow links to similar papers)
JEL-Codes: E31; E32; (follow links to similar papers)
11 pages, March 24, 2008
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