Fagnart, J.-Fr.; Licandro, O.; Sneessens, H. R. - Institut de Recherche Économique et Sociale (IRES), … - 1995
In a monopolistic competition framework, we propose a dynamic model in which capacity underutilization ia a macroeconomic equilibrium feature relying on a diversity of microeconomic situations. Capacity underutilization follows from microeconomic demand uncertainty at the time firms must decide...