Macroeconomic Policy and Economic Interdependence pp 109-138 | Cite as
Prices and Price Controls: Are Price Controls a Policy Instrument?
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Abstract
How effectively, if at all, do price controls work? The answer to that question has implications for economic policy, for our understanding of history, and also for our understanding of markets. To the policymaker the answer is important in revealing to what extent controls might be used as an instrument of economic management. To the economic historian the answer is of interest for assessing the importance of various influences on the behaviour of the economy. Most generally, if controls do work, then there is a clear possibility that factors in addition to supply and demand affect prices.
Keywords
Forecast Period Price Control Money Growth Building Society Income Policy
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Copyright information
© Donald R. Hodgman and Geoffrey E. Wood 1989