abstract in agriculture, there is a lag between planting decision and supplying the produced commodity to the market. this makes the marketed commodities as predetermined variables and prices as market clearing factor. under such a condition, the inverse demand function in which price is a function of quantity is an appropriate tool for forecasting price responses to the injected quantities to ...

We argue that even when macroeconomic variables are constant, underlying microeconomic uncertainty and borrowing constraints generate inflation. We study stochastic economies with fiat money, a central bank, one nondurable commodity, countably many time periods, and a continuum of agents. The aggregate amount of the commodity remains constant, but the endowments of individual agents fluctuate “...

t he relationship between the price of oil and the level of economic activity is a fundamental empirical issue in macroeconomics. in this research, by using a multivariate garch-in-mean var, we try to investigate direct effects of uncertainty of oil price on macroeconomics of iran by using annually data from 1965 to 2013.results show that uncertainty about oil prices had a negative and signific...

this paper evaluates the welfare effects of price changes in the main commodity groups in iran. using the iranian urban households’ data issued by the iranian statistics center over the period 1994-2007 we estimate the subsistence level. in addition, using the results from the linear expenditure system we calculate the price and income elasticities along with the compensation and equivalent var...

This paper analyzes the interaction between price and inventory decisions in an oligopoly industry and its implications for the dynamics of prices. The work extends existing literature and especially the work of Hall and Rust (2007) to endogenous prices and strategic oligopoly competition. We show that the optimal decision rule is an (S, s) order policy and prices and inventory are strategic su...