ON THE TIMING OF PRODUCTION DECISIONS IN MONETARY ECONOMIES
发现，当商品易腐时，将生产决策从“按需生产”改为“提前生产”，适度的通胀反而能提升福利，这对宏观模型假设的通用性提出了质疑。
Abstract In most macroeconomic models inflation tends to be harmful. In this article, we show that by simply changing the timing of production decisions by firms from “on demand” to “in advance,” some inflation can boost welfare as long as goods are sufficiently perishable. The main conclusion from this research is that by effectively hiding the strategic interaction between supply and demand, assuming production on demand is not without loss of generality.