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Maximisation Versus Nonmaximisation Models
Theory of Inert Areas
The Importance of XEfficiency Theory for Inflation
3 other sections not shown
absolute prices analysis argue aspects assets bargaining position bargaining power behaviour buyers capital competitive consequence consider considerable contracts conventional degree depend determine developing countries distribution of income economic effort levels effort position elements employees employment equal exist expect explicit extent Federal Reserve System firms frequently gains and losses groups growth Harvey Leibenstein Hence higher impact of inflation income distribution incomplete Incomplete Contracts increase individuals industry inequality inert areas inflation on income inflation process inflationary process inputs interest rate involved job interpretation leave it offers lower prices markets ment microtheory money prices money supply monopolies negotiation non-maximising oligopoly output parties payments Phillips curve policies possible price discrimination productivity real income reason redistributive reduce relative prices result sector sellers significant specific Suppose taxes theory of inert Tili offers tion transaction unit of account utility cost various vulnerability wages welfare economics X-efficiency theory X-inefficiency Zeuthen