Abstract
The authors adapt the price uncertainty model to examine the implications of four types of marginal changes in price uncertainty: changes in commodity price level, the variance of price, a proportional change in both the mean and the standard deviation of price, and an equiproportionate change in the moments. The analysis focuses on the effect of price uncertainty on sectoral capital/labor ratios, factor employment, output levels, factor rewards, and expected profits. The stability issue and its meaning for the determinant of the basic system is also discussed. 11 references.
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