Table 7 Correlation of shocks under assumption of varying price elasticities
From: 160 Years of aggregate supply and demand in Switzerland
Price elasticity | Aggregate supply | Aggregate demand |
|---|---|---|
Price elasticity = −1.0 | ||
−2.0 | 0.87 | 0.87 |
−1.5 | 0.91 | 0.91 |
From: 160 Years of aggregate supply and demand in Switzerland
Price elasticity | Aggregate supply | Aggregate demand |
|---|---|---|
Price elasticity = −1.0 | ||
−2.0 | 0.87 | 0.87 |
−1.5 | 0.91 | 0.91 |