Inflation and the Trade Credit Period
研究企业如何通过缩短信用期限来应对通货膨胀，先假设通胀可完全预期，再扩展到包含通胀风险的情形。
Management of accounts receivable and trade credit policy should often be adjusted to reflect changing interest rates due to changing inflation. Firms can respond to inflation by either increasing the discount for cash payments or by shortening the credit period. This paper investigates the policy of shortening the credit period in response to changing inflation rates. We first assume that inflation is fully anticipated, and later we extend the analysis to incorporate inflation risk.