The lucas supply function and the feasibility of monetary stabilization policy with rational expectations
β Scribed by Franz Xaver Hof
- Publisher
- Springer US
- Year
- 1987
- Tongue
- English
- Weight
- 944 KB
- Volume
- 14
- Category
- Article
- ISSN
- 0340-8744
No coin nor oath required. For personal study only.
π SIMILAR VOLUMES
onsider an individual holding a commodity that is subject to price risk be-C cause of factors affecting the future demand for this commodity. For example, the commodity might be a raw material whose price fluctuates randomly because of cyclical disturbances. If a futures market exists for the commod
I analyzed how the existence of futures markets affects the amount of a good stored for sale in a subsequent period, when (1) individuals holding the good face price risk because of demand fluctuations, and (2) they make their decisions using the correct (i.e., equilibrium) price distribution. Rando