Branston, J. Robert; Cowling, Keith G.; Tomlinson, Philip R. - In: Journal of Post Keynesian Economics 37 (2014) 1, pp. 135-162
While the onset of recession may lead some oligopolistic firms to engage in price-cutting behavior, we argue this is likely to be only a temporary phenomenon. As the recession deepens, firms will find themselves with (unplanned) excess capacity, which will increase the mutual benefits of...