Geroski, P A; Hall, S G - In: Oxford Bulletin of Economics and Statistics 57 (1995) 2, pp. 185-204
When prices are inflexible, real variables like production and inventories must bear the brunt of responding to cost and demand shocks. In these circumstances, one expects to observe rather more variation in quantities than in prices, and that is, in fact, what we observe in the data. To explain...