Summary:
This paper presents a macroeconomics-friendly Post Keynesian model of the firm describing both an inventory theoretic approach and an entry deterrence approach to choice of excess capacity. The model explains why firms may rationally choose to have excess capacity. It also shows the two approaches are complementary and reinforcing of each other. Analytically, the paper ...
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tom considers the following as important: Economics, Political Economy, Uncategorized
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This paper presents a macroeconomics-friendly Post Keynesian model of the firm describing both an inventory theoretic approach and an entry deterrence approach to choice of excess capacity. The model explains why firms may rationally choose to have excess capacity. It also shows the two approaches are complementary and reinforcing of each other. Analytically, the paper […]
This paper presents a macroeconomics-friendly Post Keynesian model of the firm describing both an inventory theoretic approach and an entry deterrence approach to choice of excess capacity. The model explains why firms may rationally choose to have excess capacity. It also shows the two approaches are complementary and reinforcing of each other. Analytically, the paper ...
Topics:
tom considers the following as important: Economics, Political Economy, Uncategorized
This could be interesting, too:
Lars Pålsson Syll writes DSGE models — worse than useless
Lars Pålsson Syll writes DSGE models — a total waste of time
tom writes Gaza in context: past, present, & future
Lars Pålsson Syll writes DSGE models — a total waste of time