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Macroeconomics and DevelopmentRoberto Frenkel and the Economics of Latin America$
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Mario Damill, Martín Rapetti, and Guillermo Rozenwurcel

Print publication date: 2016

Print ISBN-13: 9780231175081

Published to Columbia Scholarship Online: September 2016

DOI: 10.7312/columbia/9780231175081.001.0001

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PRINTED FROM COLUMBIA SCHOLARSHIP ONLINE (www.columbia.universitypressscholarship.com). (c) Copyright University of Minnesota Press, 2022. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CUPSO for personal use.date: 04 July 2022

Markups Under Uncertainty

Markups Under Uncertainty

Variations on Price Decisions in High Inflation

(p.23) Chapter 2 Markups Under Uncertainty
Macroeconomics and Development

Daniel Heymann

Francisco Roldán

Columbia University Press

this chapter develops a set of models on pricing decisions under uncertainty, extending Frenkel’s classic 1979 paper in a number of ways. The authors explore the role of inventory management and liquidity constraints as mechanisms through which uncertainty about future unit costs may make profit-maximizing firms reluctant to sell goods in the current period, and thus create incentives to raise markups

Keywords:   pricing decisions, uncertainty, liquidity constraints, inventory management, mark-up pricing

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