The aim of this paper is to study the role that prices play in the New Neoclassical Synthesis. It is shown that … offers the same answers on the minor role of prices in static macroeconomics. In spite of this, the New Neoclassical … the search for not just better answers, but for new questions regarding prices in a monetary theory. …

framework for understanding how prices convey information in securities markets. Grossman elaborates a new model of economic … equilibrium that casts a dual role for prices both as constraints that affect the immediate costs or benefits of acts and as … October 1987 as an example of the informational role of prices where volatility actually represented sophisticated trading …

models. The recent financial crisis, however, shows that market prices can give very misleading signals for long periods, and … asymmetries and market power in distorting the wisdom of prices. …

employment) or ‘depth’ (relative profit per employee). In the Israeli case, inflation accelerated since the 1970s when the large …