This paper examines an open economy model in which equilibrium unemployment depends on capacity in the traded … Carruth, Hooker and Oswald, 1998). The capacity model displays a non-linear hysteresis mechanism through which capacity … utilisation and the degree of volatility of the real exchange rate interact to generate changes in equilibrium unemployment. This …

By assuming Cobb-Douglas production technology, many well-known imperfectly competitive macroeconomic models of the … stock. This paper introduces a new notion of capacity into the standard framework. Specifically, we adapt the Cobb …-Douglas production function so that when the capital-labour ratio drops below a certain threshold, the returns to labour fall while the …

.  The course of prices and profits in cotton textiles illumine the nature of the economic processes at work.  Some … and prices fell in response to technological change.  Price and profit evidence indicates that expansion of the industry …

This study examines the response of oil contracts to extreme price movements. The chosen contract form is a Production …

. Advertising and revenue data for the online book market reveal that consumers respond to advertising rather than low prices. As …

of prices and costs are best described as I(2) processes and that except for Japan a linear combination of the log levels …

This study examines the response of oil contracts to extreme price movements. The chosen contract form is a Production …