Output Effects Of Price Controls
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Output Effects Of Price Controls
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Author : Michael M. Tansey
language : en
Publisher:
Release Date : 1978
Output Effects Of Price Controls written by Michael M. Tansey and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1978 with Price regulation categories.
Monopolistic Competition Credibility And The Output Costs Of Disinflation Programs
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Author : Sweder Van Wijnbergen
language : en
Publisher:
Release Date : 1987
Monopolistic Competition Credibility And The Output Costs Of Disinflation Programs written by Sweder Van Wijnbergen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1987 with Competition categories.
Brazil, Argentina and Israel all used price controls as part of disinflation programs in 1985-1986. In each case they were intended to break an "inertial" component of inflation. This paper focuses on a specific mechanism through which inflation inertia can emerge: the interaction between lack of credibility of government monetary policy announcements and the price setting behavior of forward looking firms. We show that this interaction can lead to inertia extending well beyond the price setting period; that is important since the price setting period is likely to be short in high inflation economies. We develop an open economy macromodel in which firms set prices before uncertainty about government monetary policy is resolved. Lack of credibility is then shown to lead to output losses during a disinflation program. We demonstrate the effects of price controls and show that their temporary use can be defended on welfare grounds. The paper analyzes asset price behavior during disinflation programs with and without price controls and the influence of credibility problems. We discuss nominal and real interest rates, the stock market and exchange rates. Finally we show that if past government policy has any information content about future government policy, cheating on current announcements of tight policy buys current employment gains during the price control period at the cost of higher inflation afterwards. Sustaining low inflation after the price control period thus requires restrictive monetary policy during the price control period
Macroeconomic Effects Of Price Controls
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Author : Elhanan Helpman
language : en
Publisher:
Release Date : 1989
Macroeconomic Effects Of Price Controls written by Elhanan Helpman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989 with categories.
Price controls were part of Israel's stabilization program of July 1985. Some results of the program seem to be inconsistent with competitive macroeconomic models. It is suggested that these results are consistent with an economy that has an oligopolistic market structure. The paper explores the effects of market structure on macroeconomic performance in the presence and absence of price control
Drastic Measures
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Author : Hugh Rockoff
language : en
Publisher: Cambridge University Press
Release Date : 1984-06-29
Drastic Measures written by Hugh Rockoff and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1984-06-29 with History categories.
This is a history of America's use of wage and price controls from colonial times to Richard Nixon's experiment with controls in the 1970s. It explores the impact of controls on prices and productivity, side-effects such as the growth of black markets and the expansion of government, and the relationship between controls and monetary policy. The central conclusion is that, contrary to the conventional wisdom, there are situations where the net effect of controls can be positive. In particular, temporary controls may reduce the unemployment and lost output usually associated with disinflation.
The Economics Of Price And Wage Controls
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Author : Karl Brunner
language : en
Publisher: Amsterdam ; New York : North-Holland Publishing Company ; New York : sole distributors for the U.S.A. American Elsevier Publishing Company
Release Date : 1976
The Economics Of Price And Wage Controls written by Karl Brunner and has been published by Amsterdam ; New York : North-Holland Publishing Company ; New York : sole distributors for the U.S.A. American Elsevier Publishing Company this book supported file pdf, txt, epub, kindle and other format this book has been release on 1976 with Business & Economics categories.
Compilation of conference papers on the economics of wage policy and price controls in the USA - refers to the economic implications and effects of controls, the impact of excess demand and wage-price controls on wage inflation in the UK, and the application of time series economic models to inflation and incomes policy, etc. Diagrams, graphs, references and statistical tables. Conference held in rochester 1973 November.
Price Controls
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Author : Fouad Sabry
language : en
Publisher: One Billion Knowledgeable
Release Date : 2024-04-07
Price Controls written by Fouad Sabry and has been published by One Billion Knowledgeable this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-04-07 with Business & Economics categories.
What is Price Controls Price controls are restrictions set in place and enforced by governments, on the prices that can be charged for goods and services in a market. The intent behind implementing such controls can stem from the desire to maintain affordability of goods even during shortages, and to slow inflation, or, alternatively, to ensure a minimum income for providers of certain goods or to try to achieve a living wage. There are two primary forms of price control: a price ceiling, the maximum price that can be charged; and a price floor, the minimum price that can be charged. A well-known example of a price ceiling is rent control, which limits the increases that a landlord is permitted by government to charge for rent. A widely used price floor is minimum wage. Historically, price controls have often been imposed as part of a larger incomes policy package also employing wage controls and other regulatory elements. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Price controls Chapter 2: Minimum wage Chapter 3: Stagflation Chapter 4: Inflation Chapter 5: Rationing Chapter 6: Effective demand Chapter 7: Economics in One Lesson Chapter 8: Incomes policy Chapter 9: Labour power Chapter 10: Price ceiling Chapter 11: Price floor Chapter 12: Balcerowicz Plan Chapter 13: Shortage Chapter 14: Buffer stock scheme Chapter 15: General Maximum Chapter 16: Excess supply Chapter 17: Disequilibrium macroeconomics Chapter 18: 1980s austerity policy in Romania Chapter 19: Economic policy of the Nicolás Maduro administration Chapter 20: Rent regulation Chapter 21: SUNDDE (II) Answering the public top questions about price controls. (III) Real world examples for the usage of price controls in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Price Controls.
An Investigation Of Price Controls Effects On Output
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Author : Doungporn Na-Ranong
language : en
Publisher:
Release Date : 1979
An Investigation Of Price Controls Effects On Output written by Doungporn Na-Ranong and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1979 with Price regulation categories.
Forty Centuries Of Wage And Price Controls
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Author : Robert L. Schuettinger.
language : en
Publisher: Ludwig von Mises Institute
Release Date : 1979
Forty Centuries Of Wage And Price Controls written by Robert L. Schuettinger. and has been published by Ludwig von Mises Institute this book supported file pdf, txt, epub, kindle and other format this book has been release on 1979 with Political Science categories.
The Mises Institute is thrilled to bring back this popular guide to ridiculous economic policy from the ancient world to modern times. This outstanding history illustrates the utter futility of fighting the market process through legislation. It always uses despotic measures to yield socially catastrophic results. It covers the ancient world, the Roman Republic and Empire, Medieval Europe, the first centuries of the U.S. and Canada, the French Revolution, the 19th century, World Wars I and II, the Nazis, the Soviets, postwar rent control, and the 1970s. It also includes a very helpful conclusion spelling out the theory of wage and price controls. This book is a treasure, and super entertaining!
Flaws And Ceilings
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Author : Christopher Coyne
language : en
Publisher: London Publishing Partnership
Release Date : 2015-03-27
Flaws And Ceilings written by Christopher Coyne and has been published by London Publishing Partnership this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-03-27 with Business & Economics categories.
Price controls across many sectors are currently being hotly debated. New controls in the housing market, more onerous minimum wages, minimum prices for alcohol, and freezes on energy prices are very high up the agenda of most politicians at the moment. Even without any further controls, wages, university fees, railway fares and many financial products already have their prices at least partly determined by politicians rather than by supply and demand in the market. Indeed, barely a sector of the UK economy is unaffected in one way or another by government controls on prices. This book demonstrates why economists do not like price controls and shows why they are widely regarded as being amongst the most damaging political interventions in markets. The authors analyse, in a very readable fashion, the damage they cause. Crucially, the authors also explain why, despite universal criticism from economists, price controls are so popular amongst politicians.
Pricing And Price Regulation
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Author : D. Bös
language : en
Publisher: Elsevier
Release Date : 2015-12-04
Pricing And Price Regulation written by D. Bös and has been published by Elsevier this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-12-04 with Business & Economics categories.
This clear, precisely written text presents an important branch of the modern, micro-economically based theory of industrial organization and of public finance, utilizing calculus only. Answers are provided to some pertinent economic questions, such as the pricing policies of vote-seeking politicians, of empire-building bureaucrats and of out-put-maximizing and energy-saving public utilities. These policies are compared with the welfare economic benchmark rules e.g. on marginal cost pricing and Ramsey pricing. Great significance is attached to price regulation. The book elucidates the recent replacement of rate of return regulation by price-cap regulation. It also explains why many simple rules like yardstick regulation fail to achieve optimal prices, which shows how complicated it is to induce managers to truthfully reveal their private information. How this can be achieved properly is shown in various principal-agent models on regulation with uncertain costs, uncertain demand and with soft budget constraints.