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Price Adjustment During the Covid-19 Pandemic
出版CESifo, Center for Economic Studies & Ifo Institute, 2020
URLhttp://books.google.com.hk/books?id=t4ynzQEACAAJ&hl=&source=gbs_api
註釋We study price-setting behavior in German firm-level survey data to infer the relative importance of supply and demand during the Covid-19 pandemic. Supply and demand forces coexist, but demand shortages dominate in the short run. A reported negative impact of Covid-19 on current business is associated with a rise in the probability to decrease prices up to eleven percentage points. These results imply a role for aggregate demand stabilization policy to buffer the economic consequences of Covid-19 while containing the pandemic.