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Permanent prices, expected price changes, and the demand for money

โœ Scribed by Ulrich R. Kohli


Publisher
Springer-Verlag
Year
1984
Tongue
English
Weight
688 KB
Volume
9
Category
Article
ISSN
0377-7332

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We determine empirically how automakers accommodate shocks to demand. Using data on production, sales, and transaction prices, we estimate a dynamic profit maximization model of the firm. We demonstrate that when an automaker is hit with a vehicle-specific demand shock, sales respond immediately and