JER, 第 2-3 卷Hanyang Economic Research Institute in collaboration with Hanyang University College of Business and Economics, 1997 |
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第 269 頁
Price Stickiness under Menu and Convex Adjustment Costs Ronald Balvers1 West Virginia University Jimmy Ran Lingnan ... cost component , as this cost is incurred throughout the adjustment period . We find that optimal firm behavior ...
Price Stickiness under Menu and Convex Adjustment Costs Ronald Balvers1 West Virginia University Jimmy Ran Lingnan ... cost component , as this cost is incurred throughout the adjustment period . We find that optimal firm behavior ...
第 270 頁
... cost model of Hamermesh ( 1989 , 1992 ) , in which a firm faces both menu costs and a convex adjustment cost . It is shown that the two types of adjustment costs reinforce each other in such a way that any price adjustment is not only ...
... cost model of Hamermesh ( 1989 , 1992 ) , in which a firm faces both menu costs and a convex adjustment cost . It is shown that the two types of adjustment costs reinforce each other in such a way that any price adjustment is not only ...
第 275 頁
... menu cost or the convex adjustment cost becomes negligible . Substituting Equation ( 10 ) into ( 5 ) it follows that AC min ( and similarly AC min ) goes to zero in either case : negligible menu cost implies that slow adjustment is ...
... menu cost or the convex adjustment cost becomes negligible . Substituting Equation ( 10 ) into ( 5 ) it follows that AC min ( and similarly AC min ) goes to zero in either case : negligible menu cost implies that slow adjustment is ...
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adjustment costs aggregate Asian assumed b₁ banks blue crab budget constraint capital coefficient cointegration consumption convex crisis customer market denotes dynamic elasticity equation estimated exchange rate exogenous expenditure tax F-Statistics factor price Figure foreign exchange market growth Hanyang University health-related investment HKAB Hong Kong Hong Kong dollar implies incentives increase individual Industrial Policy Industry Promotion Law inflation interest rate intrinsic bubbles IPI transition Journal of Economic labor marginal cost maximize mentor mentor/protege relationship menu cost migration mold industry monetary base money demand money supply natural production function optimal tax outliers output paper Pareto-improving transition partners period price adjustment price level production function proteges quadratic quit threat regression response returns to scale sector shocks significant SME policy SN(t Statistics Table tax rates tax steady tax system theorem tion utility function variable velocity welfare y₁ YDEV zero