We discuss a fully dynamical microeconomic model where inflation appears as the response of an unstable system to stochastic noise and/or time discretisation of the dynamics. In the model economic agents fix prices and production volumes following simple, robust, suboptimal rules. A global parameter
Reinterpreting the role of inflation in politico-economic models
โ Scribed by Robert Michaels
- Publisher
- Springer US
- Year
- 1986
- Tongue
- English
- Weight
- 633 KB
- Volume
- 48
- Category
- Article
- ISSN
- 0048-5829
No coin nor oath required. For personal study only.
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