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Essays on Structural Change and the Dynamics of Prices.

Record Type:	Language materials, manuscript : Monograph/item
Title/Author:	Essays on Structural Change and the Dynamics of Prices./
Author:	Bohr, Clement E.
Description:	1 online resource (207 pages)
Notes:	Source: Dissertations Abstracts International, Volume: 85-11, Section: A.
Contained By:	Dissertations Abstracts International85-11A.
Subject:	Finance. -
Online resource:	click for full text (PQDT)
ISBN:	9798382759845

Essays on Structural Change and the Dynamics of Prices.
Bohr, Clement E.

Essays on Structural Change and the Dynamics of Prices. - 1 online resource (207 pages)

Source: Dissertations Abstracts International, Volume: 85-11, Section: A.

Thesis (Ph.D.)--Northwestern University, 2024.

Includes bibliographical references

This dissertation comprises three chapters. The first chapter investigates the gradual rise in the size of firms' production capacity buffers in the United States since the 1960s. The study has a particular focus on the implications for the short run dynamics of inflation, providing an explanation for the flattening of the Phillips curve. The second chapter proposes a theoretical mechanism, coined Engel's Treadmill, in which the interaction between increasing income levels and directed technical change creates a perpetual process of sectoral growth and turnover. The theory predicts, amongst else, that prices fall more in more income-elastic sectors, which is empirically verified using data for the United States spanning back to the 1950s. The third chapter provides four novel theoretical results associated with nonhomothetic constant elasticity of substitution (NhCES) preferences, expanding their use-cases to more easily include heterogeneous agent, dynamic models.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2024

Mode of access: World Wide Web

ISBN: 9798382759845Subjects--Topical Terms:

559073
Finance.
Subjects--Index Terms:

Theoretical mechanismIndex Terms--Genre/Form:

554714
Electronic books.

Essays on Structural Change and the Dynamics of Prices.
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500 $a Source: Dissertations Abstracts International, Volume: 85-11, Section: A.
500 $a Advisor: Christiano, Lawrence J.
502 $a Thesis (Ph.D.)--Northwestern University, 2024.
504 $a Includes bibliographical references
520 $a This dissertation comprises three chapters. The first chapter investigates the gradual rise in the size of firms' production capacity buffers in the United States since the 1960s. The study has a particular focus on the implications for the short run dynamics of inflation, providing an explanation for the flattening of the Phillips curve. The second chapter proposes a theoretical mechanism, coined Engel's Treadmill, in which the interaction between increasing income levels and directed technical change creates a perpetual process of sectoral growth and turnover. The theory predicts, amongst else, that prices fall more in more income-elastic sectors, which is empirically verified using data for the United States spanning back to the 1950s. The third chapter provides four novel theoretical results associated with nonhomothetic constant elasticity of substitution (NhCES) preferences, expanding their use-cases to more easily include heterogeneous agent, dynamic models.
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538 $a Mode of access: World Wide Web
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653 $a Theoretical mechanism
653 $a Inflation
653 $a Dynamic models
653 $a Perpetual process
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