Im Jahr 2022 haben Deutschland und viele andere Länder lange nicht mehr gesehene Preissteigerungen erlebt. Besonders betroffen waren davon unter anderem landwirtschaftliche Erzeugnisse und Nahrungsmittel. Das hat zu vielen Diskussionen zu Ursachen und Konsequenzen von Preissteigerungen in der...

Inflation is painful, for firms, customers, employees, and society. But careful study of periods of hyperinflation point to ways that firms can adapt. In particular, companies need to think about how to change prices regularly and cheaply - because constant price changes can ultimately be very,...

Comparing the convergence of a Walrasian price adjustment process and that of a Marshallian quantity adjustment process in a multiple market setting, we show that both mechanisms are locally stable for any adjustment speeds if the demand system is characterised by a negative dominant diagonal.

What impact is a VAT change expected to have on consumer prices? On the basis of past cases, the changes in the two VAT rates on 1 January 2014 are expected to have a moderate impact on inflation.

We offer the first direct evidence of an implicit contract in a goods market. The evidence comes from the market for Coca-Cola. Since implicit contracts are unobservable, we adopt a narrative approach to demonstrate that the Coca-Cola Company left a written evidence of the implicit contract with...

This paper investigates monetary shocks and the rôle of inventories with respect to the occurrence of deflationary recessions. We propose a non-tâtonnement approach involving temporary equilibria with rationing in each period and price adjustment between successive periods. By amplifying...

The adjustment of product prices in open economies is analyzed by use of a model encompassing different product market structures and quarterly data for Denmark, Germany, the Netherlands, Norway, and Sweden. In general, support is found in favor of a specialized production model implying that...