, Nils Gottfries
() and Tomas Lindström
Magnus Lundin: Department of Economics, Postal: Uppsala University, P.O. Box 513, SE-751 20 Uppsala, Sweden
Nils Gottfries: Department of Economics, Postal: Uppsala University, P.O. Box 513, SE-751 20 Uppsala, Sweden
Tomas Lindström: Konjunkturinstitutet, Postal: Box 3116, SE - 103 62 Stockholm, Sweden
Abstract: Price and investment equations are estimated using a unique data set for Swedish manufacturing plants. The empirical specification is based on a theoretical model of a financially constrained firm selling its output in a customer market. We find that, as predicted by our theoretical model, prices respond strongly to cost shocks but are not much affected by variations in demand and high predetermined investment is associated with a higher price.
41 pages, June 18, 2004
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