Price Rigidity: Causes and Macroeconomic Implications (Hardcover) (ISBN-13: 9780198287605)

The price adjustment process is crucial to almost any macroeconomic issue. Anderson provides here a comprehensive and unified analysis of why prices may fail to adjust instantly, integrating the existing literature with his own new work on asymmetric information and imperfect competition. This unified treatment will allow readers to understand the mechanisms at work without becoming lost in technical details. This volume covers both real and nominal price ridigidites and integrates existing results from the literature with new results on causes for failures of price adjustment. Andersen's own theoretical work on imperfect information, a prime source of price and wage rigidity, is given prominence in the book. The volume is thus a combination of a valuable survey of the literature, and an original expression of future possible research avenues.

Author: Torben M. Andersen, Northam Anderson
ISBN-10: 0198287607
ISBN-13: 9780198287605
Publisher: OUP Oxford
Language: English
Published: 01/12/1995
Pages: 194
Format: Hardcover
Weight: 0.93lbs
Size: 8.70h x 5.80w x 0.75d