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The price system, the adjustment of prices to changes in market conditions, is the primary mechanism by which markets function and by which the three most basic questions get answered: what to produce, how much to produce and for whom to produce. To the behaviour of price and price system,...
Persistent link: https://www.econbiz.de/10015224825
This introductory essay briefly summarizes the eleven empirical studies of price setting and price adjustment that are included in this special issue. The studies, which use data from several European countries, were conducted as part of the European Central Bank’s Inflation Persistence Network.
Persistent link: https://www.econbiz.de/10015224831
The marketplace, along with its price system, is the single most important institution in a western-style free enterprise economy. The ability of prices to adjust to changes in supply and demand conditions enables the market to function efficiently and lies behind the magical invisible hand...
Persistent link: https://www.econbiz.de/10015224834
The paper seeks to integrate the theoretical developments in the field of imperfect competition and monopoly, and operation of the firm in such conditions, with the theories of income distribution, particularly among the macroeconomic aggregates of capital and labor. And formulating a working...
Persistent link: https://www.econbiz.de/10015232570
explore the relationship between financialization in the U.S economy and real investment at the firm level. Using data from a … financialization. First, increased financial investment and increased financial profit opportunities may have crowded out real … find between investment and financialization. …
Persistent link: https://www.econbiz.de/10009467773
financialization. Households experience higher debt levels. Rising profits of businesses come with only moderate investment. The notion … together various arguments related to financialization (in the broad sense) from a macroeconomic point of view and investigate … investment behaviour, consumption behaviour and government expenditures, investigating to what extent changes are related to …
Persistent link: https://www.econbiz.de/10009468084
We analyze the limit behavior of sequences of oligopolistic equilibria in which firms follow objectives consistent with their shareholders' interests. We show that the efficiency of the limit allocation depends on how firms' shares are distributed across consumers, and provide a characterization...
Persistent link: https://www.econbiz.de/10015218496
This paper studies the empirical relation between corporate social responsibility (CSR) and corporate financial performance in Korea using a sample of 1122 firm-years during 2002-2008. We measure corporate social responsibility by both an equal-weighted CSR index and a stakeholder-weighted CSR...
Persistent link: https://www.econbiz.de/10015221263
This article presents a method for valuing software based on the income that use of that software is expected to generate in the future. Well-known principles of intellectual property (IP) valuation, sales expectations, discounting to present value, and the like, are applied, always focusing on...
Persistent link: https://www.econbiz.de/10015226485
Corporate social responsibility (CSR) is in vogue in recent times. It has been widely received by socially concerned people in business, academia, and NGOs that CSR would lend support to the improvement in social welfare and the protection of environment. However, the question that whether...
Persistent link: https://www.econbiz.de/10015229737