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Inflation and the Informativeness of Prices

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NBER1993-01-01 更新2025-01-04 收录
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https://www.nber.org/papers/w4267
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资源简介:
This paper studies the welfare effects of the relative price variability arising from inflation. When agents interact in anonymous markets, with customers buying from new suppliers each period, relative price variability benefits customers and cannot harm suppliers substantially. But if customers
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1993-01-01
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