## The Price Equation |

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A(ULC actual unit labor adjustment process asymmetries in pricing AULC autocorrelation average hourly earnings beta coefficients capital stock changes in unit competitive continuous clearing cost and demand cost factors demand curve demand factors dependent variable durables and nondurables Econ Econometric Equation 2-(S excess demand Faith Halfter Ando firm four-quarter Gary Fromm Growth and Price Industrial operating rates Inventory disequilibrium Joint Economic Committee Means Deviations measures mechanism Nondurable Manufacturing oligopolistic Otto Eckstein Pechman Phillips curve price equations price increases price indexes Price Levels production profit rate quarterly equations quarters quasi-rent rate of return ratio reflecting Schultze 20 short-run cost short-run demand standard output standard unit labor Stanley Black statistical significance Study of Employment Study Paper supply and demand supply-demand target rate target-return pricing Theory of Price transactions prices U. S. Congress ULCN unfilled orders unit labor costs unit material costs wage rate Washington 1959 x/xk