Achieving the Goals of the Employment Act of 1946, Thirtieth Anniversary Review : Vol. 3-Inflation and Market Structure. Paper No. 1. Inflationary Impact of Unemployment: Price Markups During Postwar Recessions, 1947-70.

Format:

Book

Government document

Author/Creator:

United States. Congress. Joint Economic Committee

Language:

English

Subjects (All):

Big business.

Business cycles.

Inflation (Finance).

Physical Description:

1 online resource (40 pages) : digital, PDF file

monochrome

Place of Publication:

[Place of publication not identified] : [publisher not identified], 1976.

System Details:

System requirements: PDF reader software.

text file

PDF

Summary:

First paper in a study series on inflation and market structure prepared in conjunction with the Committee's review of national employment policy on the 30th anniversary of the Employment Act of 1946.

Includes comments by Howard N. Ross (City Univ of NY) and the authors' reply (pages 30-35).

This study, prepared by Howard M. Wachtel and Peter D. Adelsheim (Amer Univ), presents a markup theory of pricing, and develops evidence to show that postwar recessions have spurred, rather than dampened, price increases. Examines the cyclical behavior of price markups, particularly in concentrated industries, and concludes that many firms have succeeded in maintaining profit margins in spite of declining sales and output levels. Also argues that anti-recession policies must be supplemented by efforts to dampen price pressures in non-competitive sectors.

Notes:

Record is based on bibliographic data in ProQuest U.S. Congressional Research Digital Collection (last viewed Aug. 2010). Reuse except for individual research requires license from ProQuest, LLC.

Other Format:

Microfiche version: United States. Congress. Joint Economic Committee. Achieving the Goals of the Employment Act of 1946, Thirtieth Anniversary Review 76-J842-28

Access Restriction:

Restricted for use by site license.