Price Dynamics and Production Lags
نویسندگان
چکیده
منابع مشابه
Cobweb Theorems with Production Lags and Price Forecasting
The classical cobweb theorem is extended to include production lags and price forecasts. Price forecasting based on a longer period has a stabilizing effect on prices. Longer production lags do not necessarily lead to unstable prices; very long lags lead to cycles of constant amplitude. The classical cobweb requires elasticity of demand to be greater than that of supply; this is not necessarily...
متن کاملBioaccumulation models with time lags: Dynamics and stability criteria
Simple bioaccumulation models predict a monotonic increase in concentration with time until an equilibrium concentration is reached. However, unconsidered dynamics including deterministic oscillations occur if realistic time lags are incorporated. Stability criteria are provided for difference and differential forms of the simplest model. These criteria provide the means of identifying systems ...
متن کاملVolatility and Commodity Price Dynamics
Commodity prices tend to be volatile, and volatility itself varies over time. Changes in volatility can affect market variables by directly affecting the marginal value of storage, and by affecting a component of the total marginal cost of production: the opportunity cost of exercising the option to produce the commodity now rather than waiting for more price information. I examine the role of ...
متن کاملUnderstanding House-Price Dynamics
*The views expressed here are those of the author and do not necessarily represent the views of the Federal Reserve Bank of Philadelphia or the Federal Reserve System. or most homeowners, housing is the single most important component of their nonpension wealth. Therefore, a change in house prices greatly affects the total wealth of many households. Furthermore, movements in house prices can af...
متن کاملHeterogeneous Traders, Price-volume Signals, and Complex Asset Price Dynamics
We seek to develop a novel asset pricing model with heterogeneous traders. Fundamental traders expect that asset prices converge towards their intrinsic values, whereas chart traders rely on both price and volume signals to determine their orders. To be precise, the larger the trading volume, the more they believe in the persistence of the current price trend. Simulations of our nonlinear deter...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: American Economic Review
سال: 1999
ISSN: 0002-8282
DOI: 10.1257/aer.89.2.81