
On the Timing of Production Decisions in Monetary Economies
Anbarci, Nejat; Dutu, Richard; Sun, Ching-Jen (2019), On the Timing of Production Decisions in Monetary Economies, International Economic Review, 60, 1, p. 447-472. 10.1111/iere.12359
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Article accepté pour publication ou publiéDate
2019Journal name
International Economic ReviewVolume
60Number
1Publisher
Wiley
Pages
447-472
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Show full item recordAuthor(s)
Anbarci, NejatFaculty of Business and Law, Deakin University
Dutu, Richard
Laboratoire d'Economie de Dauphine [LEDa]
Sun, Ching-Jen
Faculty of Business and Law, Deakin University
Abstract (EN)
In most macroeconomic models inflation tends to be harmful. In this article, we show that by simply changing the timing of production decisions by firms from “on demand” to “in advance,” some inflation can boost welfare as long as goods are sufficiently perishable. The main conclusion from this research is that by effectively hiding the strategic interaction between supply and demand, assuming production on demand is not without loss of generality.Subjects / Keywords
Timing; Perishability; Production; Money; Inflation; SearchRelated items
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