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Oligopoly and Inflation

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Part of the Nijenrode Studies in Economics book series (NIEC,volume 2)

Abstract

The simple fact that prices under monopoly are higher than under competitive conditions has led some people to associate the continuous rises in price-levels during the postwar period with the existence of non-competitive markets. Numerous empirical studies on administered prices are based on this hypothesis. It was, however, the obvious flaw that monopolies do account for higher prices but not for their continuous rise. This phenomenon cannot be explained by conventional analysis of monopolized markets. If we still want to maintain this approach to inflationary processes, it has to be supplemented by taking into consideration additional factors that might close the gaps mentioned above. This will be attempted in two stages: after dealing with the problem on a rather abstract level using strongly simplifying assumptions, we shall try to show the relevance of our analysis to present-day reality in the final part.

Keywords

  • Price Elasticity
  • Technical Progress
  • Competition Policy
  • Full Employment
  • Nominal Wage

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.

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© 1977 H. E. Stenfert Kroese B. V.

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Heusz, E. (1977). Oligopoly and Inflation. In: Jacquemin, A.P., de Jong, H.W. (eds) Welfare aspects of industrial markets. Nijenrode Studies in Economics, vol 2. Springer, Boston, MA. https://doi.org/10.1007/978-1-4613-4231-1_5

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  • DOI: https://doi.org/10.1007/978-1-4613-4231-1_5

  • Publisher Name: Springer, Boston, MA

  • Print ISBN: 978-1-4613-4233-5

  • Online ISBN: 978-1-4613-4231-1

  • eBook Packages: Springer Book Archive