The very restrictive nature of systems of supply and demand functions which have constant elasticities is well known. The same is not true of single constant own-price elasticity demand functions.

This note studies third degree price discrimination in intermediate good markets. I show that whether a more efficient downstream firm is charged a higher or lower price than a less efficient firm ...

It has been shown that under perfect competition and a Cobb-Douglas production function, a basic real business cycle model may exhibit indeterminacy and sunspot fluctuations when income tax rates are ...