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| Author: | Danziger, L. Kreiner, C. T. |
| Title: | Fixed production capacity, menu cost and the output-inflation relationship |
| Journal: | Economica
2002 : VOL. 69, p. 433-444 |
| Index terms: | Production management Input-output analysis Price level Inflation |
| Language: | eng |
| Abstract: | The authors analyze the impact of inflation when firms face frictions in both price and quantity adjustments. Recent findings suggest that frictions in quantity adjustment may remove the linkage between output and inflation. In this paper the authors show that this is not the case when inflation is anticipated. A predetermined production capacity may significantly amplify the consequences of price adjustment costs. |
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