The impact of market clearing assumptions and dynamics on demand elasticities

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1 Citation (Scopus)

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 languageEnglish
Pages (from-to)39-43
Number of pages5
JournalEconomics Letters
Volume59
Issue number1
DOIs
Publication statusPublished - 01 Apr 1998

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