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Inflation and quality dispersion

Dutu, Richard 2013, Inflation and quality dispersion, Macroeconomic dynamics, vol. 17, no. 6, pp. 1355-1365, doi: 10.1017/S1365100512000284.

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Title Inflation and quality dispersion
Author(s) Dutu, Richard
Journal name Macroeconomic dynamics
Volume number 17
Issue number 6
Start page 1355
End page 1365
Total pages 11
Publisher Cambridge University Press
Place of publication Cambridge, England
Publication date 2013-09
ISSN 1365-1005
1469-8056
Keyword(s) directed search
welfare
quality
commitment
Summary One questionable aspect of price posting with directed search is the strong commitment by sellers to commit to the advertised terms of trade. In this paper I explore the welfare implications of assuming that sellers cannot commit and vary the quality of their output ex post according to realized demand. I show that such lack of commitment translates into lower participation by buyers, lower average quality, and a consumption-equivalent loss of 0.3% of annual GDP.
Language eng
DOI 10.1017/S1365100512000284
Field of Research 140102 Macroeconomic Theory
Socio Economic Objective 970114 Expanding Knowledge in Economics
HERDC Research category C1 Refereed article in a scholarly journal
HERDC collection year 2013
Persistent URL http://hdl.handle.net/10536/DRO/DU:30049756

Document type: Journal Article
Collections: Faculty of Business and Law
Deakin Graduate School of Business
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Created: Thu, 06 Dec 2012, 14:43:17 EST by Beatrice Fitzgerald

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