Koford, Kenneth - In: Public Finance Review 15 (1987) 2, pp. 199-218
This article examines the short-run effects of Abba Lerner and David Co-lander's Market Anti-Inflation Plan (MAP) with a microeconomic model of firm pricing and output. It proves that MAP assures a constant (Paasche)price level. For an economy in which all firms face downward-sloping demand, MAP...