| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w3782 |
| 来源ID | Working Paper 3782 |
| Long-Term Contracting and Multiple-Price Systems | |
| R. Glenn Hubbard; Robert J. Weiner | |
| 发表日期 | 1991-07-01 |
| 出版年 | 1991 |
| 语种 | 英语 |
| 摘要 | This paper examines product markets in which long-term contracts and spot transactions coexist. Such markets are characterized by "multiple-price systems," wherein adjustment to supply and demand shocks occurs through spot prices, while contract prices are fixed, or adjust slowly. We derive the existence of contracts, as well as the equilibrium fraction of spot trade, in the framework of an optimizing model, and analyze the effects of shocks on market equilibrium when some buyers and sellers are "locked in" contractually. The model is employed to interpret the change in the copper market from a multiple-price system to one characterized solely by spot trade. |
| 主题 | Industrial Organization |
| URL | https://www.nber.org/papers/w3782 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/561104 |
| 推荐引用方式 GB/T 7714 | R. Glenn Hubbard,Robert J. Weiner. Long-Term Contracting and Multiple-Price Systems. 1991. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w3782.pdf（236KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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