The dynamics of durable goods markets: rational expectations and sticky prices

This paper studies price dynamics in a durable good market under the assumption that consumers have rational expectations on future prices. For a wide variety of expectations, optimal consumption plans result in sticky-price demand functions. Market dynamics are characterized by intertemporal price discrimination which provides a possible explanation for the declining path of price observed in many "young" industries. Unexpected shocks on demand result in price overshooting, while unexpected supplyshocks have the opposite effect on price

The dynamics of durable goods markets: rational expectations and sticky prices.

This paper studies price dynamics in a durable good market under the assumption that consumers have rational expectations on future prices. For a wide variety of expectations, optimal consumption plans result in sticky-price demand functions. Market dynamics are characterized by intertemporal price discrimination which provides a possible explanation for the declining path of price observed in many "young" industries. Unexpected shocks on demand result in price overshooting, while unexpected supplyshocks have the opposite effect on price.Durable Goods; Rational Expectations; Sticky Prices; Interıtemporal; Overshooting;

Environmental costs of residuals: a characterization of efficient tax policies.

Durable goods leave residuals after being retired from use. If the environmental costs of the residuals are external to consumers and producers of the good, then overproduction and excess residuals will result. Ad valorem taxes are show to be ineffective in eliminating this externality. The efficient regulatory policy is shown to be based on a pigouvian tax.Externalities; Pollution control; Optimal taxation; Durable goods; Residuals;

Reconstructing scenography: the Portuguese dictatorship archives

info:eu-repo/semantics/draf

Sobre las relaciones entre la armonía, elaconocimiento y la pefección en los textos de G. W Leibniz, filósofo.

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