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- W2013996839 abstract "A simple general equilibrium model is constructed to analyze the effects of price controls on income distribution, output, and the budget deficit. The economy is partitioned into private and public sectors. In the former sectors prices are competitively determined, while in the latter they are set exogenously by government decree. Furthermore, public sector prices might differ for producers and consumers. The analysis is conducted in the context of an open economy with a fixed exchange rate where foreign goods are imperfect substitutes for domestic goods in consumption. Thus, the spillover of price controls into the trade balance is incorporated into the model. The taxes/subsidies imposed on various groups by price controls are identified. An equilibrium is constructed for an economy producting 10 goods, of which 4 are affected by price controls. Simulations are performed to analyze the effects of an exchange rate devaluation on the main macroeconomic indicators." @default.
- W2013996839 created "2016-06-24" @default.
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- W2013996839 date "1991-06-01" @default.
- W2013996839 modified "2023-09-27" @default.
- W2013996839 title "The short-term macroeconomic effects of price controls" @default.
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- W2013996839 doi "https://doi.org/10.1016/0161-8938(91)90009-n" @default.
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