Adjustment Costs and Aggregate Demand Theory
A Note
Dados Bibliográficos
| ID | 9724072 |
|---|---|
| Autores | John M Barron, Dan A Black, Mark A Loewenstein |
| Ano | 1983 |
| Volume | 50 |
| Fascículo | 199 |
| Páginas | 361 |
| Data de publicação | 1983-08-01 |
| Peer Reviewed | Sim |
| Open Access | Não |
| Tipo | ARTICLE |
| Periódico | Economica (JOURNAL) |
| Identificadores do periódico | ISSN: 0013-0427 • E-ISSN: 1468-0335 |
| Editora | JSTOR (PUBLISHER) |
| DOI | 10.2307/2553977 |
| OpenAlex | W2086236939 |
| Idioma | EN |
| Referências citadas | 3 |
dynamic theory of the firm to obtain changes in the standard macroeconomic model that are required for it to be consistent with the existence of adjustment costs (p. 423). The Bailey and Scarth paper is important for its attempt to integrate optimizing behaviour of individuals into macroeconomic analysis, and the paper claims some startling discoveries in the process. However, there are several areas in which the analysis can be extended. In Section I, we alter the derivation of firm investment demand, given adjustment costs, to include a potential output constraint confronting individual firms. In Section II we discuss the assumptions underlying Bailey and Scarth's derivation of an investment demand function and indicate the implications for the Keynesian macroeconomic model. Section III presents the implications for the IS-LM macroeconomic model
Aggregate (composite) · Aggregate behavior · Aggregate demand · Econometrics · Economics · Microeconomics · Monetary economics · Economic theories and models · Economic Theory and Institutions · Economic Theory and Policy
| Velocidade de citação | historical |
|---|---|
| Altamente citado | Não |