Endogenous Cycles and Menu Costs : A Dynamic Macroeconomic Model of Monopoly

We present a dynamic model of price setting in which price adjustments are costly for the monopolist. The general price level changes endogenously due to welfare changes. For the resulting two-dimensional dynamical system the existence of a continuum of stationary points is proven. Furthermore, simulations show that endogenous cycles of output can occur

MoreLess

Year of publication:	2004
Authors:	Brenner, Thomas ; Weidlich, Wolfgang ; Witt, Ulrich
Publisher:	[S.l.] : SSRN
Subject:	Monopol \| Monopoly \| Anpassungskosten \| Adjustment costs \| Dynamische Wirtschaftstheorie \| Economic dynamics \| Preismanagement \| Pricing strategy

freely available

Full text |

More access options

Check Google Scholar

In German libraries (KVK)

I need help

Extent:	1 Online-Ressource (26 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: Metroeconomica, Vol. 53, pp. 56-65, 2002
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014117464