Advertisement

Excess Demand, Expectations and Price Changes

  • Malcolm C. Sawyer

Abstract

In this chapter, we focus on the empirical evidence pertaining to theories of price change which give a central role to excess demand, set within the context of an essentially competitive market environment. We begin with a discussion of the problems which arise in testing such theories, particularly the measurement of crucial variables. After a brief survey of previous work in this area, we present a summary of the results of our own empirical investigation in this area for 40 British manufacturing industries over the period 1963 to 1975.

Keywords

Price Change Serial Correlation Aggregate Demand Excess Demand Supply Function 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

Copyright information

© Malcolm C. Sawyer 1983

Authors and Affiliations

  • Malcolm C. Sawyer
    • 1
  1. 1.University of YorkUK

Personalised recommendations