The impact of market clearing assumptions and dynamics on demand elasticities

Edward Oczkowski

doi:10.1016/s0165-1765(98)00034-2

The impact of market clearing assumptions and dynamics on demand elasticities

Edward Oczkowski

Business

Research output: Contribution to journal › Article › peer-review

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Abstract

This paper establishes support for the empirical regularity that model specifications which assume market clearing, produce more elastic impact demand price elasticities than their disequilibrium counterparts. Specification error analysis helps explain this regularity. The regularity is shown to be only a short-run phenomenon.

Original language	English
Pages (from-to)	39-43
Number of pages	5
Journal	Economics Letters
Volume	59
Issue number	1
DOIs	https://doi.org/10.1016/s0165-1765(98)00034-2
Publication status	Published - 01 Apr 1998

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title = "The impact of market clearing assumptions and dynamics on demand elasticities",

abstract = "This paper establishes support for the empirical regularity that model specifications which assume market clearing, produce more elastic impact demand price elasticities than their disequilibrium counterparts. Specification error analysis helps explain this regularity. The regularity is shown to be only a short-run phenomenon.",

keywords = "C51, Demand Elasticities, Disequilibrium Models, Market Dynamics",

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KW - Disequilibrium Models

KW - Market Dynamics

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The impact of market clearing assumptions and dynamics on demand elasticities

Abstract

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