Cyclical Markups (Classic Reprint): Theories and Evidence: Theories and Evidence (Classic Reprint) - Softcover
Synopsis
Excerpt from Cyclical Markups: Theories and Evidence
Real wages are not strongly countercyclical. As pointed out already by Dunlop (1938) and Tarshis this presents difficulties for models in which technological possibilities do not vary at business cycle frequencies. For, why should firms be willing to pay more to workers when output is high and hence the marginal product of labor is low? One obvious possibility, suggested by Keynes is that the desired markup of price over marginal cost is low when output is high.
About the Publisher
Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com
This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
"synopsis" may belong to another edition of this title.
Product Description
Excerpt from Cyclical Markups: Theories and Evidence
Real wages are not strongly countercyclical. As pointed out already by Dunlop (1938) and Tarshis this presents difficulties for models in which technological possibilities do not vary at business cycle frequencies. For, why should firms be willing to pay more to workers when output is high and hence the marginal product of labor is low? One obvious possibility, suggested by Keynes is that the desired markup of price over marginal cost is low when output is high.
About the Publisher
Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com
This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
"About this title" may belong to another edition of this title.
Other Popular Editions of the Same Title
Search results for Cyclical Markups (Classic Reprint): Theories and Evidence:...
Seller Image
Cyclical Markups: Theories and Evidence (Classic Reprint)
Print on DemandSeller: Forgotten Books, London, United Kingdom
Seller rating 5 out of 5 stars
Paperback. Condition: New. Print on Demand. This book argues that cyclical markupsâ"the difference between the price of a good and its marginal cost of productionâ"play a critical role in macroeconomic fluctuations. The author utilizes three leading models of endogenous markup variation to explain fluctuations in real wages at business cycle frequencies. The first model assumes the elasticity of demand for a representative firm varies over the business cycle, while the second model is based on the customer market model. The third model is based on the model of implicit collusion. The author incorporates decreasing average costs by allowing for fixed costs and shows that this produces a more countercyclical markup. Overall, the book's insights provide evidence that high prices can be a form of investment (an investment in market share) and enhance the understanding of fluctuations in aggregate activity. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. Seller Inventory # 9781332257027_0
Buy New
£ 13.51
Shipping:
FREE
From United Kingdom to U.S.A.
Quantity: Over 20 available
Stock Image
Cyclical Markups Theories and Evidence Classic Reprint
Seller: PBShop.store US, Wood Dale, IL, U.S.A.
Seller rating 5 out of 5 stars
PAP. Condition: New. New Book. Shipped from UK. Established seller since 2000. Seller Inventory # LW-9781332257027
Stock Image
Cyclical Markups Theories and Evidence Classic Reprint
Seller: PBShop.store UK, Fairford, GLOS, United Kingdom
Seller rating 5 out of 5 stars
PAP. Condition: New. New Book. Shipped from UK. Established seller since 2000. Seller Inventory # LW-9781332257027