Production delays and price dynamics
نویسندگان
چکیده
This paper develops a unified analysis of the impacts production delays on aggregate price fluctuations in continuous-time cobweb-type model. We find that time inconsistency between demand and supply due to inherently generates an overshooting effect prices. Large give rise fluctuations, even with low intensity choice. also provide results consistent rational route randomness Brock Hommes (1997) infinite-dimensional economy.
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ژورنال
عنوان ژورنال: Journal of Economic Behavior and Organization
سال: 2022
ISSN: ['0167-2681', '1879-1751']
DOI: https://doi.org/10.1016/j.jebo.2021.12.033