Table of Contents

Handbook of Research Methods and Applications in Heterodox Economics

Handbook of Research Methods and Applications in Heterodox Economics

Handbooks of Research Methods and Applications series

Edited by Frederic S. Lee and Bruce Cronin

Despite the important critiques of the mainstream offered by heterodox economics, the dominant method remains econometrics. This major new Handbook provides an invaluable introduction to a range of alternative research methods better suited for analysing the social data prominent in heterodox research projects, including survey, historical, ethnographic, experimental, and mixed approaches, together with factor, cluster, complex, and social network analytics. Introductions to each method are complemented by descriptions of applications in practice.

Chapter 17: Price stability

Gyun Cheol Gu

Subjects: economics and finance, history of economic thought, methodology of economics, post-keynesian economics, radical and feminist economics, research methods, research methods in economics


Based on the grounded theory methodology covered in Chapter 2, this chapter proposes a comprehensive and coherent theoretical system to provide an analytical framework for price stability. In order to establish an empirically grounded pricing procedure, it analyzes a body of empirical studies which investigate the advances in accounting and managerial techniques, thereby examining the causal mechanisms for price setting. By doing so, it sheds light on the mechanisms through which price stability is secured. In particular, it refines and extends a heterodox theory of price stability by differentiating between intrinsic and extrinsic stability, identifying their roles and implications for stable prices, and incorporating labor hoarding and labor discipline effects to the theorization of the extrinsic price stability.

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