Transaction-Cost Influences on the Adjustment of Industries' Prices and Outputs
研究生产者商品产业中价格和产出的短期调整如何受供应商与工业客户之间准契约关系的影响，通过分析时间序列系数的横截面决定因素来检验假设。
Short-run adjustments of prices and outputs in producer-goods industries should reflect suppliers' continuing quasi-contractual relationships with their industrial customers. The authors test hypotheses about these relationships by analyzing cross-section determinants of time-series coefficients showing the rates of adjustment of industries' prices and outputs to movements of demand (inferred from customers' outputs). They confirm that price adjustments decrease with the bases for sticky relations with customers; the sensitivity of quantity adjustments increases with those bases and decreases with suppliers' own adjustment costs. They also confirm the standard hypothesis that price flexibility decreases with producer concentration. Copyright 1987 by MIT Press.