La inflexibilidad descendente de los precios y la teoría de la empresa

Abstract

Downwards inflexibility of nominal prices is an established fact of contemporary economic reality; it is responsible of some important phenomena in the behaviour of market economies. In this paper reasons for the existence of such inflexibility are analyzed. It is found out that such behaviour takes place in those markets where suppliers are price setters and where, besides, some of the usual assumptions of microeconomic theory do not hold. The main conclusion of the paper is the need of expanding current theory in order to take into consideration the asymmetric behaviour which characterizes monetary prices in contemporary economy.