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Books > Business & Economics > Economics > Microeconomics
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Explaining Prices in the Global Economy - A Post-Keynesian Model (Hardcover)
Loot Price: R3,244
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Explaining Prices in the Global Economy - A Post-Keynesian Model (Hardcover)
Series: New Directions in Modern Economics series
Expected to ship within 12 - 17 working days
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This ground-breaking book addresses the problem of price
disparities across countries and, for the first time, uses market
structures as the central focus. The author also addresses the
effects of trade barriers, input-output relations and economies of
scale, factors often ignored by other studies, to determine what
causes prices to vary across countries.A post-Keynesian markup
pricing model incorporating market power, intermediate inputs and
productivity differences is developed and tested using regression
analysis. New data on sectoral price levels in Japan and the
Republic of Korea and data on GDP and investment price levels for a
large number of countries are used. The empirical evidence shows
that wages, labor productivity, market power and economies of scale
are the most important variables for the explanation of differing
price levels across countries. The author finds little evidence for
the importance of policy-induced trade barriers and competition
policy in explaining this. This book will be useful for scholars of
post-Keynesian economics and international economics.
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