id	sid	tid	token	lemma	pos
arjefm-66	1	1	american	american	PROPN
arjefm-66	1	2	research	research	PROPN
arjefm-66	1	3	journal	journal	PROPN
arjefm-66	1	4	of	of	ADP
arjefm-66	1	5	economics	economic	NOUN
arjefm-66	1	6	,	,	PUNCT
arjefm-66	1	7	finance	finance	NOUN
arjefm-66	1	8	and	and	CCONJ
arjefm-66	1	9	management	management	NOUN
arjefm-66	1	10	volume	volume	NOUN
arjefm-66	1	11	10	10	NUM
arjefm-66	1	12	issue	issue	NOUN
arjefm-66	1	13	2	2	NUM
arjefm-66	1	14	,	,	PUNCT
arjefm-66	1	15	april	april	PROPN
arjefm-66	1	16	-	-	PUNCT
arjefm-66	1	17	june	june	PROPN
arjefm-66	1	18	2022	2022	PROPN
arjefm-66	1	19	issn	issn	PROPN
arjefm-66	1	20	:	:	PUNCT
arjefm-66	1	21	2836	2836	NUM
arjefm-66	1	22	-	-	SYM
arjefm-66	1	23	9416	9416	NUM
arjefm-66	1	24	impact	impact	NOUN
arjefm-66	1	25	factor	factor	NOUN
arjefm-66	1	26	:	:	PUNCT
arjefm-66	1	27	4.85	4.85	NUM
arjefm-66	1	28	journal	journal	NOUN
arjefm-66	1	29	homepage	homepage	NOUN
arjefm-66	1	30	:	:	PUNCT
arjefm-66	1	31	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-66	1	32	,	,	PUNCT
arjefm-66	1	33	email	email	NOUN
arjefm-66	1	34	:	:	PUNCT
arjefm-66	1	35	contact@americaserial.com	contact@americaserial.com	PROPN
arjefm-66	1	36	official	official	ADJ
arjefm-66	1	37	journal	journal	PROPN
arjefm-66	1	38	of	of	ADP
arjefm-66	1	39	america	america	PROPN
arjefm-66	1	40	serial	serial	PROPN
arjefm-66	1	41	publication	publication	NOUN
arjefm-66	1	42	american	american	PROPN
arjefm-66	1	43	research	research	PROPN
arjefm-66	1	44	journal	journal	PROPN
arjefm-66	1	45	of	of	ADP
arjefm-66	1	46	economics	economic	NOUN
arjefm-66	1	47	,	,	PUNCT
arjefm-66	1	48	finance	finance	NOUN
arjefm-66	1	49	and	and	CCONJ
arjefm-66	1	50	management	management	NOUN
arjefm-66	1	51	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-66	1	52	,	,	PUNCT
arjefm-66	1	53	email	email	NOUN
arjefm-66	1	54	:	:	PUNCT
arjefm-66	2	1	contact@americaserial.com	contact@americaserial.com	X
arjefm-66	2	2	43	43	NUM
arjefm-66	3	1	|	|	ADV
arjefm-66	3	2	p	p	X
arjefm-66	3	3	a	a	DET
arjefm-66	3	4	g	g	NOUN
arjefm-66	3	5	e	e	NOUN
arjefm-66	3	6	the	the	DET
arjefm-66	3	7	dynamics	dynamic	NOUN
arjefm-66	3	8	of	of	ADP
arjefm-66	3	9	trade	trade	NOUN
arjefm-66	3	10	credit	credit	NOUN
arjefm-66	3	11	terms	term	NOUN
arjefm-66	3	12	in	in	ADP
arjefm-66	3	13	response	response	NOUN
arjefm-66	3	14	to	to	ADP
arjefm-66	3	15	interest	interest	NOUN
arjefm-66	3	16	rate	rate	NOUN
arjefm-66	3	17	changes	change	VERB
arjefm-66	3	18	1dr	1dr	NOUN
arjefm-66	3	19	.	.	PUNCT
arjefm-66	4	1	william	william	PROPN
arjefm-66	4	2	s.	s.	PROPN
arjefm-66	4	3	lim	lim	PROPN
arjefm-66	4	4	and	and	CCONJ
arjefm-66	4	5	2dr	2dr	ADJ
arjefm-66	4	6	.	.	PUNCT
arjefm-66	5	1	mohammad	mohammad	PROPN
arjefm-66	5	2	a.	a.	PROPN
arjefm-66	5	3	rashid	rashid	PROPN
arjefm-66	6	1	1school	1school	NUM
arjefm-66	6	2	of	of	ADP
arjefm-66	6	3	administrative	administrative	ADJ
arjefm-66	6	4	studies	study	NOUN
arjefm-66	6	5	,	,	PUNCT
arjefm-66	6	6	york	york	PROPN
arjefm-66	6	7	university	university	PROPN
arjefm-66	6	8	,	,	PUNCT
arjefm-66	6	9	toronto	toronto	PROPN
arjefm-66	6	10	,	,	PUNCT
arjefm-66	6	11	canada	canada	PROPN
arjefm-66	6	12	2faculty	2faculty	NUM
arjefm-66	6	13	of	of	ADP
arjefm-66	6	14	business	business	NOUN
arjefm-66	6	15	administration	administration	NOUN
arjefm-66	6	16	,	,	PUNCT
arjefm-66	6	17	university	university	NOUN
arjefm-66	6	18	of	of	ADP
arjefm-66	6	19	new	new	PROPN
arjefm-66	6	20	brunswick	brunswick	PROPN
arjefm-66	6	21	,	,	PUNCT
arjefm-66	6	22	fredericton	fredericton	PROPN
arjefm-66	6	23	,	,	PUNCT
arjefm-66	6	24	canada	canada	PROPN
arjefm-66	6	25	abstract	abstract	NOUN
arjefm-66	7	1	:	:	PUNCT
arjefm-66	7	2	this	this	DET
arjefm-66	7	3	study	study	NOUN
arjefm-66	7	4	investigates	investigate	VERB
arjefm-66	7	5	the	the	DET
arjefm-66	7	6	impact	impact	NOUN
arjefm-66	7	7	of	of	ADP
arjefm-66	7	8	trade	trade	NOUN
arjefm-66	7	9	credit	credit	NOUN
arjefm-66	7	10	on	on	ADP
arjefm-66	7	11	the	the	DET
arjefm-66	7	12	credit	credit	NOUN
arjefm-66	7	13	channel	channel	NOUN
arjefm-66	7	14	of	of	ADP
arjefm-66	7	15	monetary	monetary	ADJ
arjefm-66	7	16	policy	policy	NOUN
arjefm-66	7	17	transmission	transmission	NOUN
arjefm-66	7	18	.	.	PUNCT
arjefm-66	8	1	despite	despite	SCONJ
arjefm-66	8	2	the	the	DET
arjefm-66	8	3	growing	grow	VERB
arjefm-66	8	4	interest	interest	NOUN
arjefm-66	8	5	in	in	ADP
arjefm-66	8	6	monetary	monetary	ADJ
arjefm-66	8	7	policy	policy	NOUN
arjefm-66	8	8	effectiveness	effectiveness	NOUN
arjefm-66	8	9	,	,	PUNCT
arjefm-66	8	10	a	a	DET
arjefm-66	8	11	comprehensive	comprehensive	ADJ
arjefm-66	8	12	theoretical	theoretical	ADJ
arjefm-66	8	13	model	model	NOUN
arjefm-66	8	14	explaining	explain	VERB
arjefm-66	8	15	the	the	DET
arjefm-66	8	16	empirical	empirical	ADJ
arjefm-66	8	17	observation	observation	NOUN
arjefm-66	8	18	that	that	SCONJ
arjefm-66	8	19	trade	trade	NOUN
arjefm-66	8	20	credit	credit	NOUN
arjefm-66	8	21	mitigates	mitigate	VERB
arjefm-66	8	22	the	the	DET
arjefm-66	8	23	effects	effect	NOUN
arjefm-66	8	24	of	of	ADP
arjefm-66	8	25	central	central	ADJ
arjefm-66	8	26	bank	bank	NOUN
arjefm-66	8	27	actions	action	NOUN
arjefm-66	8	28	has	have	AUX
arjefm-66	8	29	been	be	AUX
arjefm-66	8	30	lacking	lack	VERB
arjefm-66	8	31	.	.	PUNCT
arjefm-66	9	1	in	in	ADP
arjefm-66	9	2	this	this	DET
arjefm-66	9	3	paper	paper	NOUN
arjefm-66	9	4	,	,	PUNCT
arjefm-66	9	5	we	we	PRON
arjefm-66	9	6	introduce	introduce	VERB
arjefm-66	9	7	a	a	DET
arjefm-66	9	8	partial	partial	ADJ
arjefm-66	9	9	equilibrium	equilibrium	NOUN
arjefm-66	9	10	model	model	NOUN
arjefm-66	9	11	incorporating	incorporate	VERB
arjefm-66	9	12	third	third	ADJ
arjefm-66	9	13	-	-	PUNCT
arjefm-66	9	14	degree	degree	NOUN
arjefm-66	9	15	price	price	NOUN
arjefm-66	9	16	discrimination	discrimination	NOUN
arjefm-66	9	17	with	with	ADP
arjefm-66	9	18	menu	menu	NOUN
arjefm-66	9	19	costs	cost	NOUN
arjefm-66	9	20	.	.	PUNCT
arjefm-66	10	1	our	our	PRON
arjefm-66	10	2	key	key	ADJ
arjefm-66	10	3	finding	finding	NOUN
arjefm-66	10	4	suggests	suggest	VERB
arjefm-66	10	5	that	that	SCONJ
arjefm-66	10	6	,	,	PUNCT
arjefm-66	10	7	in	in	ADP
arjefm-66	10	8	low	low	ADJ
arjefm-66	10	9	-	-	PUNCT
arjefm-66	10	10	inflation	inflation	NOUN
arjefm-66	10	11	periods	period	NOUN
arjefm-66	10	12	,	,	PUNCT
arjefm-66	10	13	the	the	DET
arjefm-66	10	14	increase	increase	NOUN
arjefm-66	10	15	in	in	ADP
arjefm-66	10	16	net	net	ADJ
arjefm-66	10	17	present	present	ADJ
arjefm-66	10	18	value	value	NOUN
arjefm-66	10	19	(	(	PUNCT
arjefm-66	10	20	npv	npv	NOUN
arjefm-66	10	21	)	)	PUNCT
arjefm-66	10	22	resulting	result	VERB
arjefm-66	10	23	from	from	ADP
arjefm-66	10	24	optimizing	optimize	VERB
arjefm-66	10	25	credit	credit	NOUN
arjefm-66	10	26	terms	term	NOUN
arjefm-66	10	27	and	and	CCONJ
arjefm-66	10	28	product	product	NOUN
arjefm-66	10	29	prices	price	NOUN
arjefm-66	10	30	is	be	AUX
arjefm-66	10	31	insufficient	insufficient	ADJ
arjefm-66	10	32	to	to	PART
arjefm-66	10	33	outweigh	outweigh	VERB
arjefm-66	10	34	even	even	ADV
arjefm-66	10	35	minimal	minimal	ADJ
arjefm-66	10	36	menu	menu	NOUN
arjefm-66	10	37	costs	cost	NOUN
arjefm-66	10	38	associated	associate	VERB
arjefm-66	10	39	with	with	ADP
arjefm-66	10	40	short	short	ADJ
arjefm-66	10	41	-	-	PUNCT
arjefm-66	10	42	term	term	NOUN
arjefm-66	10	43	interest	interest	NOUN
arjefm-66	10	44	rate	rate	NOUN
arjefm-66	10	45	changes	change	NOUN
arjefm-66	10	46	.	.	PUNCT
arjefm-66	11	1	as	as	ADP
arjefm-66	11	2	a	a	DET
arjefm-66	11	3	result	result	NOUN
arjefm-66	11	4	,	,	PUNCT
arjefm-66	11	5	credit	credit	NOUN
arjefm-66	11	6	terms	term	NOUN
arjefm-66	11	7	and	and	CCONJ
arjefm-66	11	8	product	product	NOUN
arjefm-66	11	9	prices	price	NOUN
arjefm-66	11	10	remain	remain	VERB
arjefm-66	11	11	stable	stable	ADJ
arjefm-66	11	12	over	over	ADP
arjefm-66	11	13	time	time	NOUN
arjefm-66	11	14	.	.	PUNCT
arjefm-66	12	1	this	this	DET
arjefm-66	12	2	outcome	outcome	NOUN
arjefm-66	12	3	aligns	align	VERB
arjefm-66	12	4	with	with	ADP
arjefm-66	12	5	empirical	empirical	ADJ
arjefm-66	12	6	evidence	evidence	NOUN
arjefm-66	12	7	from	from	ADP
arjefm-66	12	8	ng	ng	PROPN
arjefm-66	12	9	,	,	PUNCT
arjefm-66	12	10	smith	smith	PROPN
arjefm-66	12	11	,	,	PUNCT
arjefm-66	12	12	and	and	CCONJ
arjefm-66	12	13	smith	smith	PROPN
arjefm-66	12	14	(	(	PUNCT
arjefm-66	12	15	1999	1999	NUM
arjefm-66	12	16	)	)	PUNCT
arjefm-66	12	17	and	and	CCONJ
arjefm-66	12	18	mateut	mateut	NOUN
arjefm-66	12	19	(	(	PUNCT
arjefm-66	12	20	2005	2005	NUM
arjefm-66	12	21	)	)	PUNCT
arjefm-66	12	22	and	and	CCONJ
arjefm-66	12	23	provides	provide	VERB
arjefm-66	12	24	a	a	DET
arjefm-66	12	25	plausible	plausible	ADJ
arjefm-66	12	26	explanation	explanation	NOUN
arjefm-66	12	27	for	for	ADP
arjefm-66	12	28	the	the	DET
arjefm-66	12	29	meltzer	meltzer	PROPN
arjefm-66	12	30	(	(	PUNCT
arjefm-66	12	31	1960	1960	NUM
arjefm-66	12	32	)	)	PUNCT
arjefm-66	12	33	hypothesis	hypothesis	NOUN
arjefm-66	12	34	,	,	PUNCT
arjefm-66	12	35	which	which	PRON
arjefm-66	12	36	posits	posit	VERB
arjefm-66	12	37	that	that	SCONJ
arjefm-66	12	38	trade	trade	NOUN
arjefm-66	12	39	credit	credit	NOUN
arjefm-66	12	40	fluctuates	fluctuate	NOUN
arjefm-66	12	41	less	less	ADJ
arjefm-66	12	42	than	than	ADP
arjefm-66	12	43	bank	bank	NOUN
arjefm-66	12	44	credit	credit	NOUN
arjefm-66	12	45	in	in	ADP
arjefm-66	12	46	the	the	DET
arjefm-66	12	47	credit	credit	NOUN
arjefm-66	12	48	channel	channel	NOUN
arjefm-66	12	49	transmission	transmission	NOUN
arjefm-66	12	50	of	of	ADP
arjefm-66	12	51	monetary	monetary	ADJ
arjefm-66	12	52	policy	policy	NOUN
arjefm-66	12	53	.	.	PUNCT
arjefm-66	13	1	furthermore	furthermore	ADV
arjefm-66	13	2	,	,	PUNCT
arjefm-66	13	3	we	we	PRON
arjefm-66	13	4	draw	draw	VERB
arjefm-66	13	5	parallels	parallel	NOUN
arjefm-66	13	6	between	between	ADP
arjefm-66	13	7	this	this	DET
arjefm-66	13	8	phenomenon	phenomenon	NOUN
arjefm-66	13	9	and	and	CCONJ
arjefm-66	13	10	exchange	exchange	NOUN
arjefm-66	13	11	rate	rate	NOUN
arjefm-66	13	12	pass	pass	NOUN
arjefm-66	13	13	-	-	PUNCT
arjefm-66	13	14	throughs	throughs	NOUN
arjefm-66	13	15	and	and	CCONJ
arjefm-66	13	16	discuss	discuss	VERB
arjefm-66	13	17	the	the	DET
arjefm-66	13	18	effectiveness	effectiveness	NOUN
arjefm-66	13	19	of	of	ADP
arjefm-66	13	20	monetary	monetary	ADJ
arjefm-66	13	21	easing	easing	NOUN
arjefm-66	13	22	during	during	ADP
arjefm-66	13	23	a	a	DET
arjefm-66	13	24	pandemic	pandemic	NOUN
arjefm-66	13	25	.	.	PUNCT
arjefm-66	14	1	keywords	keyword	NOUN
arjefm-66	14	2	:	:	PUNCT
arjefm-66	14	3	trade	trade	NOUN
arjefm-66	14	4	credit	credit	NOUN
arjefm-66	14	5	,	,	PUNCT
arjefm-66	14	6	credit	credit	NOUN
arjefm-66	14	7	channel	channel	NOUN
arjefm-66	14	8	,	,	PUNCT
arjefm-66	14	9	monetary	monetary	ADJ
arjefm-66	14	10	policy	policy	NOUN
arjefm-66	14	11	,	,	PUNCT
arjefm-66	14	12	npv	npv	NOUN
arjefm-66	14	13	optimization	optimization	NOUN
arjefm-66	14	14	,	,	PUNCT
arjefm-66	14	15	menu	menu	NOUN
arjefm-66	14	16	costs	cost	NOUN
arjefm-66	14	17	.	.	PUNCT
arjefm-66	15	1	1	1	X
arjefm-66	15	2	.	.	X
arjefm-66	15	3	introduction	introduction	NOUN
arjefm-66	15	4	how	how	SCONJ
arjefm-66	15	5	does	do	AUX
arjefm-66	15	6	trade	trade	NOUN
arjefm-66	15	7	credit	credit	NOUN
arjefm-66	15	8	affect	affect	VERB
arjefm-66	15	9	the	the	DET
arjefm-66	15	10	credit	credit	NOUN
arjefm-66	15	11	channel	channel	NOUN
arjefm-66	15	12	of	of	ADP
arjefm-66	15	13	monetary	monetary	ADJ
arjefm-66	15	14	policy	policy	NOUN
arjefm-66	15	15	transmission	transmission	NOUN
arjefm-66	15	16	?	?	PUNCT
arjefm-66	16	1	this	this	DET
arjefm-66	16	2	interest	interest	NOUN
arjefm-66	16	3	in	in	ADP
arjefm-66	16	4	monetary	monetary	ADJ
arjefm-66	16	5	policy	policy	NOUN
arjefm-66	16	6	effectiveness	effectiveness	NOUN
arjefm-66	16	7	has	have	AUX
arjefm-66	16	8	increased	increase	VERB
arjefm-66	16	9	in	in	ADP
arjefm-66	16	10	recent	recent	ADJ
arjefm-66	16	11	years	year	NOUN
arjefm-66	16	12	.	.	PUNCT
arjefm-66	17	1	however	however	ADV
arjefm-66	17	2	,	,	PUNCT
arjefm-66	17	3	there	there	PRON
arjefm-66	17	4	has	have	AUX
arjefm-66	17	5	not	not	PART
arjefm-66	17	6	been	be	AUX
arjefm-66	17	7	a	a	DET
arjefm-66	17	8	satisfactory	satisfactory	ADJ
arjefm-66	17	9	theoretical	theoretical	ADJ
arjefm-66	17	10	model	model	NOUN
arjefm-66	17	11	to	to	PART
arjefm-66	17	12	explain	explain	VERB
arjefm-66	17	13	the	the	DET
arjefm-66	17	14	empirical	empirical	ADJ
arjefm-66	17	15	stylized	stylize	VERB
arjefm-66	17	16	fact	fact	NOUN
arjefm-66	17	17	that	that	SCONJ
arjefm-66	17	18	trade	trade	NOUN
arjefm-66	17	19	credit	credit	NOUN
arjefm-66	17	20	dampens	dampen	VERB
arjefm-66	17	21	the	the	DET
arjefm-66	17	22	impact	impact	NOUN
arjefm-66	17	23	of	of	ADP
arjefm-66	17	24	central	central	ADJ
arjefm-66	17	25	bank	bank	NOUN
arjefm-66	17	26	actions	action	NOUN
arjefm-66	17	27	.	.	PUNCT
arjefm-66	18	1	in	in	ADP
arjefm-66	18	2	this	this	DET
arjefm-66	18	3	paper	paper	NOUN
arjefm-66	18	4	,	,	PUNCT
arjefm-66	18	5	we	we	PRON
arjefm-66	18	6	present	present	VERB
arjefm-66	18	7	a	a	DET
arjefm-66	18	8	partial	partial	ADJ
arjefm-66	18	9	equilibrium	equilibrium	NOUN
arjefm-66	18	10	model	model	NOUN
arjefm-66	18	11	of	of	ADP
arjefm-66	18	12	third	third	ADJ
arjefm-66	18	13	-	-	PUNCT
arjefm-66	18	14	degree	degree	NOUN
arjefm-66	18	15	price	price	NOUN
arjefm-66	18	16	discrimination	discrimination	NOUN
arjefm-66	18	17	with	with	ADP
arjefm-66	18	18	menu	menu	NOUN
arjefm-66	18	19	costs	cost	NOUN
arjefm-66	18	20	.	.	PUNCT
arjefm-66	19	1	the	the	DET
arjefm-66	19	2	main	main	ADJ
arjefm-66	19	3	result	result	NOUN
arjefm-66	19	4	is	be	AUX
arjefm-66	19	5	that	that	SCONJ
arjefm-66	19	6	the	the	DET
arjefm-66	19	7	increase	increase	NOUN
arjefm-66	19	8	in	in	ADP
arjefm-66	19	9	npv	npv	NOUN
arjefm-66	19	10	from	from	ADP
arjefm-66	19	11	optimizing	optimize	VERB
arjefm-66	19	12	credit	credit	NOUN
arjefm-66	19	13	terms	term	NOUN
arjefm-66	19	14	and	and	CCONJ
arjefm-66	19	15	product	product	NOUN
arjefm-66	19	16	prices	price	NOUN
arjefm-66	19	17	is	be	AUX
arjefm-66	19	18	less	less	ADJ
arjefm-66	19	19	than	than	ADP
arjefm-66	19	20	even	even	ADV
arjefm-66	19	21	miniscule	miniscule	ADJ
arjefm-66	19	22	menu	menu	NOUN
arjefm-66	19	23	costs	cost	NOUN
arjefm-66	19	24	for	for	ADP
arjefm-66	19	25	short	short	ADJ
arjefm-66	19	26	-	-	PUNCT
arjefm-66	19	27	term	term	NOUN
arjefm-66	19	28	interest	interest	NOUN
arjefm-66	19	29	rate	rate	NOUN
arjefm-66	19	30	changes	change	NOUN
arjefm-66	19	31	in	in	ADP
arjefm-66	19	32	low	low	ADJ
arjefm-66	19	33	-	-	PUNCT
arjefm-66	19	34	inflation	inflation	NOUN
arjefm-66	19	35	periods	period	NOUN
arjefm-66	19	36	.	.	PUNCT
arjefm-66	20	1	therefore	therefore	ADV
arjefm-66	20	2	,	,	PUNCT
arjefm-66	20	3	credit	credit	NOUN
arjefm-66	20	4	terms	term	NOUN
arjefm-66	20	5	and	and	CCONJ
arjefm-66	20	6	product	product	NOUN
arjefm-66	20	7	prices	price	NOUN
arjefm-66	20	8	are	be	AUX
arjefm-66	20	9	stable	stable	ADJ
arjefm-66	20	10	over	over	ADP
arjefm-66	20	11	time	time	NOUN
arjefm-66	20	12	.	.	PUNCT
arjefm-66	21	1	this	this	DET
arjefm-66	21	2	finding	finding	NOUN
arjefm-66	21	3	is	be	AUX
arjefm-66	21	4	consistent	consistent	ADJ
arjefm-66	21	5	with	with	ADP
arjefm-66	21	6	ng	ng	PROPN
arjefm-66	21	7	,	,	PUNCT
arjefm-66	21	8	smith	smith	PROPN
arjefm-66	21	9	and	and	CCONJ
arjefm-66	21	10	smith	smith	PROPN
arjefm-66	21	11	’s	’s	PART
arjefm-66	21	12	(	(	PUNCT
arjefm-66	21	13	1999	1999	NUM
arjefm-66	21	14	)	)	PUNCT
arjefm-66	21	15	and	and	CCONJ
arjefm-66	21	16	mateut	mateut	NOUN
arjefm-66	21	17	’s	’s	PART
arjefm-66	21	18	(	(	PUNCT
arjefm-66	21	19	2005	2005	NUM
arjefm-66	21	20	)	)	PUNCT
arjefm-66	21	21	empirical	empirical	ADJ
arjefm-66	21	22	evidence	evidence	NOUN
arjefm-66	21	23	and	and	CCONJ
arjefm-66	21	24	may	may	AUX
arjefm-66	21	25	also	also	ADV
arjefm-66	21	26	explain	explain	VERB
arjefm-66	21	27	the	the	DET
arjefm-66	21	28	meltzer	meltzer	PROPN
arjefm-66	21	29	(	(	PUNCT
arjefm-66	21	30	1960	1960	NUM
arjefm-66	21	31	)	)	PUNCT
arjefm-66	21	32	hypothesis	hypothesis	NOUN
arjefm-66	21	33	on	on	ADP
arjefm-66	21	34	credit	credit	NOUN
arjefm-66	21	35	channel	channel	NOUN
arjefm-66	21	36	transmission	transmission	NOUN
arjefm-66	21	37	of	of	ADP
arjefm-66	21	38	monetary	monetary	ADJ
arjefm-66	21	39	policy	policy	NOUN
arjefm-66	21	40	,	,	PUNCT
arjefm-66	21	41	i.e.	i.e.	X
arjefm-66	21	42	,	,	PUNCT
arjefm-66	21	43	trade	trade	NOUN
arjefm-66	21	44	credit	credit	NOUN
arjefm-66	21	45	fluctuates	fluctuate	NOUN
arjefm-66	21	46	less	less	ADJ
arjefm-66	21	47	than	than	ADP
arjefm-66	21	48	bank	bank	NOUN
arjefm-66	21	49	credit	credit	NOUN
arjefm-66	21	50	.	.	PUNCT
arjefm-66	22	1	in	in	ADP
arjefm-66	22	2	short	short	ADJ
arjefm-66	22	3	,	,	PUNCT
arjefm-66	22	4	certain	certain	ADJ
arjefm-66	22	5	empirical	empirical	ADJ
arjefm-66	22	6	phenomena	phenomenon	NOUN
arjefm-66	22	7	related	relate	VERB
arjefm-66	22	8	to	to	ADP
arjefm-66	22	9	the	the	DET
arjefm-66	22	10	credit	credit	NOUN
arjefm-66	22	11	channel	channel	NOUN
arjefm-66	22	12	could	could	AUX
arjefm-66	22	13	be	be	AUX
arjefm-66	22	14	rationalized	rationalize	VERB
arjefm-66	22	15	by	by	ADP
arjefm-66	22	16	assuming	assume	VERB
arjefm-66	22	17	that	that	SCONJ
arjefm-66	22	18	firms	firm	NOUN
arjefm-66	22	19	set	set	VERB
arjefm-66	22	20	trade	trade	NOUN
arjefm-66	22	21	credit	credit	NOUN
arjefm-66	22	22	terms	term	NOUN
arjefm-66	22	23	to	to	PART
arjefm-66	22	24	maximize	maximize	VERB
arjefm-66	22	25	npv	npv	NOUN
arjefm-66	22	26	and	and	CCONJ
arjefm-66	22	27	take	take	VERB
arjefm-66	22	28	menu	menu	NOUN
arjefm-66	22	29	costs	cost	NOUN
arjefm-66	22	30	into	into	ADP
arjefm-66	22	31	account	account	NOUN
arjefm-66	22	32	.	.	PUNCT
arjefm-66	23	1	finally	finally	ADV
arjefm-66	23	2	,	,	PUNCT
arjefm-66	23	3	similarities	similarity	NOUN
arjefm-66	23	4	to	to	PART
arjefm-66	23	5	exchange	exchange	VERB
arjefm-66	23	6	rate	rate	NOUN
arjefm-66	23	7	pass	pass	NOUN
arjefm-66	23	8	-	-	PUNCT
arjefm-66	23	9	throughs	throughs	NOUN
arjefm-66	23	10	and	and	CCONJ
arjefm-66	23	11	the	the	DET
arjefm-66	23	12	effectiveness	effectiveness	NOUN
arjefm-66	23	13	of	of	ADP
arjefm-66	23	14	monetary	monetary	ADJ
arjefm-66	23	15	easing	easing	NOUN
arjefm-66	23	16	in	in	ADP
arjefm-66	23	17	a	a	DET
arjefm-66	23	18	pandemic	pandemic	NOUN
arjefm-66	23	19	are	be	AUX
arjefm-66	23	20	discussed	discuss	VERB
arjefm-66	23	21	.	.	PUNCT
arjefm-66	24	1	the	the	DET
arjefm-66	24	2	rest	rest	NOUN
arjefm-66	24	3	of	of	ADP
arjefm-66	24	4	the	the	DET
arjefm-66	24	5	paper	paper	NOUN
arjefm-66	24	6	is	be	AUX
arjefm-66	24	7	organized	organize	VERB
arjefm-66	24	8	as	as	SCONJ
arjefm-66	24	9	follows	follow	VERB
arjefm-66	24	10	:	:	PUNCT
arjefm-66	24	11	extant	extant	ADJ
arjefm-66	24	12	literature	literature	NOUN
arjefm-66	24	13	is	be	AUX
arjefm-66	24	14	reviewed	review	VERB
arjefm-66	24	15	in	in	ADP
arjefm-66	24	16	section	section	NOUN
arjefm-66	24	17	2	2	NUM
arjefm-66	24	18	,	,	PUNCT
arjefm-66	24	19	while	while	SCONJ
arjefm-66	24	20	section	section	NOUN
arjefm-66	24	21	3	3	NUM
arjefm-66	24	22	performs	perform	VERB
arjefm-66	24	23	the	the	DET
arjefm-66	24	24	analysis	analysis	NOUN
arjefm-66	24	25	.	.	PUNCT
arjefm-66	25	1	in	in	ADP
arjefm-66	25	2	section	section	NOUN
arjefm-66	25	3	4	4	NUM
arjefm-66	25	4	,	,	PUNCT
arjefm-66	25	5	numerical	numerical	ADJ
arjefm-66	25	6	results	result	NOUN
arjefm-66	25	7	show	show	VERB
arjefm-66	25	8	credit	credit	NOUN
arjefm-66	25	9	terms	term	NOUN
arjefm-66	25	10	and	and	CCONJ
arjefm-66	25	11	product	product	NOUN
arjefm-66	25	12	prices	price	NOUN
arjefm-66	25	13	are	be	AUX
arjefm-66	25	14	stable	stable	ADJ
arjefm-66	25	15	even	even	ADV
arjefm-66	25	16	with	with	ADP
arjefm-66	25	17	large	large	ADJ
arjefm-66	25	18	changes	change	NOUN
arjefm-66	25	19	in	in	ADP
arjefm-66	25	20	interest	interest	NOUN
arjefm-66	25	21	rates	rate	NOUN
arjefm-66	25	22	.	.	PUNCT
arjefm-66	26	1	menu	menu	NOUN
arjefm-66	26	2	costs	cost	NOUN
arjefm-66	26	3	are	be	AUX
arjefm-66	26	4	considered	consider	VERB
arjefm-66	26	5	and	and	CCONJ
arjefm-66	26	6	the	the	DET
arjefm-66	26	7	meltzer	meltzer	PROPN
arjefm-66	26	8	(	(	PUNCT
arjefm-66	26	9	1960	1960	NUM
arjefm-66	26	10	)	)	PUNCT
arjefm-66	26	11	effect	effect	NOUN
arjefm-66	26	12	is	be	AUX
arjefm-66	26	13	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-66	26	14	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-66	26	15	american	american	PROPN
arjefm-66	26	16	research	research	PROPN
arjefm-66	26	17	journal	journal	PROPN
arjefm-66	26	18	of	of	ADP
arjefm-66	26	19	economics	economic	NOUN
arjefm-66	26	20	,	,	PUNCT
arjefm-66	26	21	finance	finance	NOUN
arjefm-66	26	22	and	and	CCONJ
arjefm-66	26	23	management	management	NOUN
arjefm-66	26	24	volume	volume	NOUN
arjefm-66	26	25	10	10	NUM
arjefm-66	26	26	issue	issue	NOUN
arjefm-66	26	27	2	2	NUM
arjefm-66	26	28	,	,	PUNCT
arjefm-66	26	29	april	april	PROPN
arjefm-66	26	30	-	-	PUNCT
arjefm-66	26	31	june	june	PROPN
arjefm-66	26	32	2022	2022	PROPN
arjefm-66	26	33	issn	issn	PROPN
arjefm-66	26	34	:	:	PUNCT
arjefm-66	26	35	2836	2836	NUM
arjefm-66	26	36	-	-	SYM
arjefm-66	26	37	9416	9416	NUM
arjefm-66	26	38	impact	impact	NOUN
arjefm-66	26	39	factor	factor	NOUN
arjefm-66	26	40	:	:	PUNCT
arjefm-66	26	41	4.85	4.85	NUM
arjefm-66	26	42	journal	journal	NOUN
arjefm-66	26	43	homepage	homepage	NOUN
arjefm-66	26	44	:	:	PUNCT
arjefm-66	26	45	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-66	26	46	,	,	PUNCT
arjefm-66	26	47	email	email	NOUN
arjefm-66	26	48	:	:	PUNCT
arjefm-66	26	49	contact@americaserial.com	contact@americaserial.com	PROPN
arjefm-66	26	50	official	official	ADJ
arjefm-66	26	51	journal	journal	PROPN
arjefm-66	26	52	of	of	ADP
arjefm-66	26	53	america	america	PROPN
arjefm-66	26	54	serial	serial	PROPN
arjefm-66	26	55	publication	publication	NOUN
arjefm-66	26	56	american	american	PROPN
arjefm-66	26	57	research	research	PROPN
arjefm-66	26	58	journal	journal	PROPN
arjefm-66	26	59	of	of	ADP
arjefm-66	26	60	economics	economic	NOUN
arjefm-66	26	61	,	,	PUNCT
arjefm-66	26	62	finance	finance	NOUN
arjefm-66	26	63	and	and	CCONJ
arjefm-66	26	64	management	management	NOUN
arjefm-66	26	65	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-66	26	66	,	,	PUNCT
arjefm-66	26	67	email	email	NOUN
arjefm-66	26	68	:	:	PUNCT
arjefm-66	26	69	contact@americaserial.com	contact@americaserial.com	X
arjefm-66	27	1	44	44	NUM
arjefm-66	28	1	|	|	ADV
arjefm-66	28	2	p	p	AUX
arjefm-66	28	3	a	a	DET
arjefm-66	28	4	g	g	NOUN
arjefm-66	28	5	e	e	NOUN
arjefm-66	28	6	shown	show	VERB
arjefm-66	28	7	to	to	PART
arjefm-66	28	8	hold	hold	VERB
arjefm-66	28	9	in	in	ADP
arjefm-66	28	10	section	section	NOUN
arjefm-66	28	11	5	5	NUM
arjefm-66	28	12	.	.	PUNCT
arjefm-66	28	13	section	section	NOUN
arjefm-66	28	14	6	6	NUM
arjefm-66	28	15	concludes	conclude	VERB
arjefm-66	28	16	with	with	ADP
arjefm-66	28	17	a	a	DET
arjefm-66	28	18	discussion	discussion	NOUN
arjefm-66	28	19	of	of	ADP
arjefm-66	28	20	exchange	exchange	NOUN
arjefm-66	28	21	rate	rate	NOUN
arjefm-66	28	22	pass	pass	NOUN
arjefm-66	28	23	-	-	PUNCT
arjefm-66	28	24	throughs	throughs	NOUN
arjefm-66	28	25	and	and	CCONJ
arjefm-66	28	26	the	the	DET
arjefm-66	28	27	effectiveness	effectiveness	NOUN
arjefm-66	28	28	of	of	ADP
arjefm-66	28	29	monetary	monetary	ADJ
arjefm-66	28	30	easing	easing	NOUN
arjefm-66	28	31	in	in	ADP
arjefm-66	28	32	a	a	DET
arjefm-66	28	33	pandemic	pandemic	NOUN
arjefm-66	28	34	.	.	PUNCT
arjefm-66	29	1	2	2	X
arjefm-66	29	2	.	.	X
arjefm-66	29	3	review	review	NOUN
arjefm-66	29	4	of	of	ADP
arjefm-66	29	5	factors	factor	NOUN
arjefm-66	29	6	affecting	affect	VERB
arjefm-66	29	7	trade	trade	NOUN
arjefm-66	29	8	credit	credit	NOUN
arjefm-66	29	9	terms	term	NOUN
arjefm-66	29	10	many	many	ADJ
arjefm-66	29	11	theories	theory	NOUN
arjefm-66	29	12	have	have	AUX
arjefm-66	29	13	been	be	AUX
arjefm-66	29	14	proposed	propose	VERB
arjefm-66	29	15	to	to	PART
arjefm-66	29	16	explain	explain	VERB
arjefm-66	29	17	the	the	DET
arjefm-66	29	18	use	use	NOUN
arjefm-66	29	19	of	of	ADP
arjefm-66	29	20	trade	trade	NOUN
arjefm-66	29	21	credit	credit	NOUN
arjefm-66	29	22	by	by	ADP
arjefm-66	29	23	vendors	vendor	NOUN
arjefm-66	29	24	and	and	CCONJ
arjefm-66	29	25	the	the	DET
arjefm-66	29	26	determination	determination	NOUN
arjefm-66	29	27	of	of	ADP
arjefm-66	29	28	credit	credit	NOUN
arjefm-66	29	29	terms	term	NOUN
arjefm-66	29	30	.	.	PUNCT
arjefm-66	30	1	credit	credit	NOUN
arjefm-66	30	2	terms	term	NOUN
arjefm-66	30	3	specify	specify	VERB
arjefm-66	30	4	when	when	SCONJ
arjefm-66	30	5	invoiced	invoice	VERB
arjefm-66	30	6	amounts	amount	NOUN
arjefm-66	30	7	are	be	AUX
arjefm-66	30	8	due	due	ADJ
arjefm-66	30	9	and	and	CCONJ
arjefm-66	30	10	whether	whether	SCONJ
arjefm-66	30	11	a	a	DET
arjefm-66	30	12	cash	cash	NOUN
arjefm-66	30	13	discount	discount	NOUN
arjefm-66	30	14	could	could	AUX
arjefm-66	30	15	be	be	AUX
arjefm-66	30	16	taken	take	VERB
arjefm-66	30	17	for	for	ADP
arjefm-66	30	18	earlier	early	ADJ
arjefm-66	30	19	payment	payment	NOUN
arjefm-66	30	20	.	.	PUNCT
arjefm-66	31	1	the	the	DET
arjefm-66	31	2	credit	credit	NOUN
arjefm-66	31	3	period	period	NOUN
arjefm-66	31	4	is	be	AUX
arjefm-66	31	5	the	the	DET
arjefm-66	31	6	length	length	NOUN
arjefm-66	31	7	of	of	ADP
arjefm-66	31	8	time	time	NOUN
arjefm-66	31	9	allowable	allowable	ADJ
arjefm-66	31	10	for	for	ADP
arjefm-66	31	11	payment	payment	NOUN
arjefm-66	31	12	of	of	ADP
arjefm-66	31	13	the	the	DET
arjefm-66	31	14	invoice	invoice	NOUN
arjefm-66	31	15	amount	amount	NOUN
arjefm-66	31	16	.	.	PUNCT
arjefm-66	32	1	the	the	DET
arjefm-66	32	2	cash	cash	NOUN
arjefm-66	32	3	discount	discount	NOUN
arjefm-66	32	4	is	be	AUX
arjefm-66	32	5	the	the	DET
arjefm-66	32	6	percentage	percentage	NOUN
arjefm-66	32	7	amount	amount	NOUN
arjefm-66	32	8	that	that	PRON
arjefm-66	32	9	can	can	AUX
arjefm-66	32	10	be	be	AUX
arjefm-66	32	11	subtracted	subtract	VERB
arjefm-66	32	12	from	from	ADP
arjefm-66	32	13	the	the	DET
arjefm-66	32	14	invoice	invoice	NOUN
arjefm-66	32	15	if	if	SCONJ
arjefm-66	32	16	the	the	DET
arjefm-66	32	17	customer	customer	NOUN
arjefm-66	32	18	pays	pay	VERB
arjefm-66	32	19	within	within	ADP
arjefm-66	32	20	the	the	DET
arjefm-66	32	21	discount	discount	NOUN
arjefm-66	32	22	period	period	NOUN
arjefm-66	32	23	.	.	PUNCT
arjefm-66	33	1	smith	smith	PROPN
arjefm-66	33	2	(	(	PUNCT
arjefm-66	33	3	1987	1987	NUM
arjefm-66	33	4	)	)	PUNCT
arjefm-66	33	5	argues	argue	VERB
arjefm-66	33	6	that	that	SCONJ
arjefm-66	33	7	a	a	DET
arjefm-66	33	8	supplier	supplier	NOUN
arjefm-66	33	9	provides	provide	VERB
arjefm-66	33	10	trade	trade	NOUN
arjefm-66	33	11	credit	credit	NOUN
arjefm-66	33	12	in	in	ADP
arjefm-66	33	13	order	order	NOUN
arjefm-66	33	14	to	to	PART
arjefm-66	33	15	protect	protect	VERB
arjefm-66	33	16	non	non	ADJ
arjefm-66	33	17	-	-	ADJ
arjefm-66	33	18	salvageable	salvageable	ADJ
arjefm-66	33	19	investment	investment	NOUN
arjefm-66	33	20	in	in	ADP
arjefm-66	33	21	the	the	DET
arjefm-66	33	22	client	client	NOUN
arjefm-66	33	23	’s	’s	PART
arjefm-66	33	24	relationship	relationship	NOUN
arjefm-66	33	25	.	.	PUNCT
arjefm-66	34	1	mian	mian	PROPN
arjefm-66	34	2	and	and	CCONJ
arjefm-66	34	3	smith	smith	PROPN
arjefm-66	34	4	(	(	PUNCT
arjefm-66	34	5	1992	1992	NUM
arjefm-66	34	6	)	)	PUNCT
arjefm-66	34	7	focus	focus	VERB
arjefm-66	34	8	on	on	ADP
arjefm-66	34	9	the	the	DET
arjefm-66	34	10	information	information	NOUN
arjefm-66	34	11	advantage	advantage	NOUN
arjefm-66	34	12	of	of	ADP
arjefm-66	34	13	trade	trade	NOUN
arjefm-66	34	14	credit	credit	NOUN
arjefm-66	34	15	over	over	ADP
arjefm-66	34	16	traditional	traditional	ADJ
arjefm-66	34	17	financing	financing	NOUN
arjefm-66	34	18	.	.	PUNCT
arjefm-66	35	1	emery	emery	NOUN
arjefm-66	35	2	(	(	PUNCT
arjefm-66	35	3	1984	1984	NUM
arjefm-66	35	4	)	)	PUNCT
arjefm-66	35	5	proposes	propose	VERB
arjefm-66	35	6	trade	trade	NOUN
arjefm-66	35	7	credit	credit	NOUN
arjefm-66	35	8	as	as	ADP
arjefm-66	35	9	a	a	DET
arjefm-66	35	10	means	means	NOUN
arjefm-66	35	11	of	of	ADP
arjefm-66	35	12	alleviating	alleviate	VERB
arjefm-66	35	13	credit	credit	NOUN
arjefm-66	35	14	market	market	NOUN
arjefm-66	35	15	imperfections	imperfection	NOUN
arjefm-66	35	16	,	,	PUNCT
arjefm-66	35	17	while	while	SCONJ
arjefm-66	35	18	emery	emery	PROPN
arjefm-66	35	19	(	(	PUNCT
arjefm-66	35	20	1987	1987	NUM
arjefm-66	35	21	)	)	PUNCT
arjefm-66	35	22	emphasizes	emphasize	VERB
arjefm-66	35	23	that	that	SCONJ
arjefm-66	35	24	trade	trade	NOUN
arjefm-66	35	25	credit	credit	NOUN
arjefm-66	35	26	provides	provide	VERB
arjefm-66	35	27	the	the	DET
arjefm-66	35	28	means	mean	NOUN
arjefm-66	35	29	for	for	SCONJ
arjefm-66	35	30	the	the	DET
arjefm-66	35	31	vendor	vendor	NOUN
arjefm-66	35	32	to	to	PART
arjefm-66	35	33	manage	manage	VERB
arjefm-66	35	34	fluctuations	fluctuation	NOUN
arjefm-66	35	35	in	in	ADP
arjefm-66	35	36	product	product	NOUN
arjefm-66	35	37	demand	demand	NOUN
arjefm-66	35	38	.	.	PUNCT
arjefm-66	36	1	brick	brick	NOUN
arjefm-66	36	2	and	and	CCONJ
arjefm-66	36	3	fung	fung	PROPN
arjefm-66	36	4	(	(	PUNCT
arjefm-66	36	5	1984	1984	NUM
arjefm-66	36	6	)	)	PUNCT
arjefm-66	36	7	consider	consider	VERB
arjefm-66	36	8	the	the	DET
arjefm-66	36	9	differential	differential	NOUN
arjefm-66	36	10	of	of	ADP
arjefm-66	36	11	tax	tax	NOUN
arjefm-66	36	12	rates	rate	NOUN
arjefm-66	36	13	between	between	ADP
arjefm-66	36	14	a	a	DET
arjefm-66	36	15	supplier	supplier	NOUN
arjefm-66	36	16	and	and	CCONJ
arjefm-66	36	17	its	its	PRON
arjefm-66	36	18	buyer	buyer	NOUN
arjefm-66	36	19	as	as	ADP
arjefm-66	36	20	the	the	DET
arjefm-66	36	21	reason	reason	NOUN
arjefm-66	36	22	for	for	ADP
arjefm-66	36	23	the	the	DET
arjefm-66	36	24	provision	provision	NOUN
arjefm-66	36	25	of	of	ADP
arjefm-66	36	26	trade	trade	NOUN
arjefm-66	36	27	credit	credit	NOUN
arjefm-66	36	28	.	.	PUNCT
arjefm-66	37	1	petersen	petersen	PROPN
arjefm-66	37	2	and	and	CCONJ
arjefm-66	37	3	rajan	rajan	PROPN
arjefm-66	37	4	(	(	PUNCT
arjefm-66	37	5	1994	1994	NUM
arjefm-66	37	6	)	)	PUNCT
arjefm-66	37	7	suggest	suggest	VERB
arjefm-66	37	8	credit	credit	NOUN
arjefm-66	37	9	rationing	ration	VERB
arjefm-66	37	10	as	as	ADP
arjefm-66	37	11	a	a	DET
arjefm-66	37	12	reason	reason	NOUN
arjefm-66	37	13	,	,	PUNCT
arjefm-66	37	14	while	while	SCONJ
arjefm-66	37	15	schwartz	schwartz	PROPN
arjefm-66	37	16	and	and	CCONJ
arjefm-66	37	17	whitcomb	whitcomb	PROPN
arjefm-66	37	18	(	(	PUNCT
arjefm-66	37	19	1980	1980	NUM
arjefm-66	37	20	)	)	PUNCT
arjefm-66	37	21	and	and	CCONJ
arjefm-66	37	22	petersen	petersen	PROPN
arjefm-66	37	23	and	and	CCONJ
arjefm-66	37	24	rajan	rajan	PROPN
arjefm-66	37	25	(	(	PUNCT
arjefm-66	37	26	1997	1997	NUM
arjefm-66	37	27	,	,	PUNCT
arjefm-66	37	28	p.664	p.664	NOUN
arjefm-66	37	29	)	)	PUNCT
arjefm-66	37	30	suggest	suggest	VERB
arjefm-66	37	31	price	price	NOUN
arjefm-66	37	32	discrimination	discrimination	NOUN
arjefm-66	37	33	as	as	ADP
arjefm-66	37	34	a	a	DET
arjefm-66	37	35	motive	motive	NOUN
arjefm-66	37	36	for	for	ADP
arjefm-66	37	37	trade	trade	NOUN
arjefm-66	37	38	credit	credit	NOUN
arjefm-66	37	39	.	.	PUNCT
arjefm-66	38	1	equally	equally	ADV
arjefm-66	38	2	,	,	PUNCT
arjefm-66	38	3	if	if	SCONJ
arjefm-66	38	4	not	not	PART
arjefm-66	38	5	more	more	ADJ
arjefm-66	38	6	,	,	PUNCT
arjefm-66	38	7	important	important	ADJ
arjefm-66	38	8	as	as	SCONJ
arjefm-66	38	9	the	the	DET
arjefm-66	38	10	abovementioned	abovementioned	ADJ
arjefm-66	38	11	theories	theory	NOUN
arjefm-66	38	12	of	of	ADP
arjefm-66	38	13	trade	trade	NOUN
arjefm-66	38	14	credit	credit	NOUN
arjefm-66	38	15	are	be	AUX
arjefm-66	38	16	those	those	PRON
arjefm-66	38	17	that	that	PRON
arjefm-66	38	18	integrate	integrate	VERB
arjefm-66	38	19	credit	credit	NOUN
arjefm-66	38	20	policy	policy	NOUN
arjefm-66	38	21	with	with	ADP
arjefm-66	38	22	other	other	ADJ
arjefm-66	38	23	policy	policy	NOUN
arjefm-66	38	24	decisions	decision	NOUN
arjefm-66	38	25	.	.	PUNCT
arjefm-66	39	1	it	it	PRON
arjefm-66	39	2	has	have	AUX
arjefm-66	39	3	been	be	AUX
arjefm-66	39	4	recognized	recognize	VERB
arjefm-66	39	5	(	(	PUNCT
arjefm-66	39	6	kim	kim	PROPN
arjefm-66	39	7	and	and	CCONJ
arjefm-66	39	8	atkins	atkins	PROPN
arjefm-66	39	9	,	,	PUNCT
arjefm-66	39	10	1978	1978	NUM
arjefm-66	39	11	;	;	PUNCT
arjefm-66	39	12	kim	kim	PROPN
arjefm-66	39	13	and	and	CCONJ
arjefm-66	39	14	chung	chung	PROPN
arjefm-66	39	15	,	,	PUNCT
arjefm-66	39	16	1990	1990	NUM
arjefm-66	39	17	)	)	PUNCT
arjefm-66	39	18	that	that	SCONJ
arjefm-66	39	19	suboptimal	suboptimal	ADJ
arjefm-66	39	20	results	result	NOUN
arjefm-66	39	21	will	will	AUX
arjefm-66	39	22	occur	occur	VERB
arjefm-66	39	23	whenever	whenever	SCONJ
arjefm-66	39	24	interrelated	interrelated	ADJ
arjefm-66	39	25	policy	policy	NOUN
arjefm-66	39	26	variables	variable	NOUN
arjefm-66	39	27	are	be	AUX
arjefm-66	39	28	modeled	model	VERB
arjefm-66	39	29	independently	independently	ADV
arjefm-66	39	30	.	.	PUNCT
arjefm-66	40	1	therefore	therefore	ADV
arjefm-66	40	2	,	,	PUNCT
arjefm-66	40	3	it	it	PRON
arjefm-66	40	4	is	be	AUX
arjefm-66	40	5	desirable	desirable	ADJ
arjefm-66	40	6	that	that	SCONJ
arjefm-66	40	7	credit	credit	NOUN
arjefm-66	40	8	management	management	NOUN
arjefm-66	40	9	decisions	decision	NOUN
arjefm-66	40	10	be	be	AUX
arjefm-66	40	11	made	make	VERB
arjefm-66	40	12	jointly	jointly	ADV
arjefm-66	40	13	with	with	ADP
arjefm-66	40	14	other	other	ADJ
arjefm-66	40	15	policy	policy	NOUN
arjefm-66	40	16	decisions	decision	NOUN
arjefm-66	40	17	.	.	PUNCT
arjefm-66	41	1	perhaps	perhaps	ADV
arjefm-66	41	2	the	the	DET
arjefm-66	41	3	most	most	ADV
arjefm-66	41	4	important	important	ADJ
arjefm-66	41	5	area	area	NOUN
arjefm-66	41	6	of	of	ADP
arjefm-66	41	7	integration	integration	NOUN
arjefm-66	41	8	is	be	AUX
arjefm-66	41	9	the	the	DET
arjefm-66	41	10	integration	integration	NOUN
arjefm-66	41	11	of	of	ADP
arjefm-66	41	12	a	a	DET
arjefm-66	41	13	firm	firm	NOUN
arjefm-66	41	14	’s	’s	PART
arjefm-66	41	15	credit	credit	NOUN
arjefm-66	41	16	policy	policy	NOUN
arjefm-66	41	17	with	with	ADP
arjefm-66	41	18	its	its	PRON
arjefm-66	41	19	product	product	NOUN
arjefm-66	41	20	pricing	pricing	NOUN
arjefm-66	41	21	as	as	SCONJ
arjefm-66	41	22	recognized	recognize	VERB
arjefm-66	41	23	by	by	ADP
arjefm-66	41	24	kim	kim	PROPN
arjefm-66	41	25	and	and	CCONJ
arjefm-66	41	26	atkin	atkin	PROPN
arjefm-66	41	27	(	(	PUNCT
arjefm-66	41	28	1978	1978	NUM
arjefm-66	41	29	,	,	PUNCT
arjefm-66	41	30	p.403	p.403	NOUN
arjefm-66	41	31	)	)	PUNCT
arjefm-66	41	32	who	who	PRON
arjefm-66	41	33	state	state	VERB
arjefm-66	41	34	that	that	SCONJ
arjefm-66	41	35	“	"	PUNCT
arjefm-66	41	36	it	it	PRON
arjefm-66	41	37	is	be	AUX
arjefm-66	41	38	conceptually	conceptually	ADV
arjefm-66	41	39	incorrect	incorrect	ADJ
arjefm-66	41	40	to	to	PART
arjefm-66	41	41	analyze	analyze	VERB
arjefm-66	41	42	credit	credit	NOUN
arjefm-66	41	43	programs	program	NOUN
arjefm-66	41	44	in	in	ADP
arjefm-66	41	45	isolation	isolation	NOUN
arjefm-66	41	46	of	of	ADP
arjefm-66	41	47	pricing	pricing	NOUN
arjefm-66	41	48	schemes	scheme	NOUN
arjefm-66	41	49	.	.	PUNCT
arjefm-66	41	50	”	"	PUNCT
arjefm-66	42	1	their	their	PRON
arjefm-66	42	2	paper	paper	NOUN
arjefm-66	42	3	,	,	PUNCT
arjefm-66	42	4	along	along	ADP
arjefm-66	42	5	with	with	ADP
arjefm-66	42	6	atkins	atkins	PROPN
arjefm-66	42	7	and	and	CCONJ
arjefm-66	42	8	kim	kim	PROPN
arjefm-66	42	9	(	(	PUNCT
arjefm-66	42	10	1977	1977	NUM
arjefm-66	42	11	)	)	PUNCT
arjefm-66	42	12	,	,	PUNCT
arjefm-66	42	13	use	use	VERB
arjefm-66	42	14	wealth	wealth	NOUN
arjefm-66	42	15	-	-	PUNCT
arjefm-66	42	16	maximizing	maximize	VERB
arjefm-66	42	17	frameworks	framework	NOUN
arjefm-66	42	18	in	in	ADP
arjefm-66	42	19	their	their	PRON
arjefm-66	42	20	integrating	integrating	NOUN
arjefm-66	42	21	efforts	effort	NOUN
arjefm-66	42	22	.	.	PUNCT
arjefm-66	43	1	the	the	DET
arjefm-66	43	2	determination	determination	NOUN
arjefm-66	43	3	of	of	ADP
arjefm-66	43	4	an	an	DET
arjefm-66	43	5	optimal	optimal	ADJ
arjefm-66	43	6	cash	cash	NOUN
arjefm-66	43	7	discount	discount	NOUN
arjefm-66	43	8	from	from	ADP
arjefm-66	43	9	a	a	DET
arjefm-66	43	10	theoretical	theoretical	ADJ
arjefm-66	43	11	perspective	perspective	NOUN
arjefm-66	43	12	originated	originate	VERB
arjefm-66	43	13	with	with	ADP
arjefm-66	43	14	lieber	lieber	PROPN
arjefm-66	43	15	and	and	CCONJ
arjefm-66	43	16	orgler	orgler	PROPN
arjefm-66	43	17	(	(	PUNCT
arjefm-66	43	18	1975	1975	NUM
arjefm-66	43	19	)	)	PUNCT
arjefm-66	43	20	who	who	PRON
arjefm-66	43	21	developed	develop	VERB
arjefm-66	43	22	expressions	expression	NOUN
arjefm-66	43	23	for	for	ADP
arjefm-66	43	24	the	the	DET
arjefm-66	43	25	expected	expect	VERB
arjefm-66	43	26	net	net	ADJ
arjefm-66	43	27	present	present	ADJ
arjefm-66	43	28	value	value	NOUN
arjefm-66	43	29	or	or	CCONJ
arjefm-66	43	30	npv	npv	NOUN
arjefm-66	43	31	of	of	ADP
arjefm-66	43	32	accounts	account	NOUN
arjefm-66	43	33	receivable	receivable	ADJ
arjefm-66	43	34	and	and	CCONJ
arjefm-66	43	35	implicit	implicit	ADJ
arjefm-66	43	36	form	form	NOUN
arjefm-66	43	37	solutions	solution	NOUN
arjefm-66	43	38	of	of	ADP
arjefm-66	43	39	the	the	DET
arjefm-66	43	40	optimal	optimal	ADJ
arjefm-66	43	41	discount	discount	NOUN
arjefm-66	43	42	.	.	PUNCT
arjefm-66	44	1	later	later	ADV
arjefm-66	44	2	,	,	PUNCT
arjefm-66	44	3	hill	hill	NOUN
arjefm-66	44	4	and	and	CCONJ
arjefm-66	44	5	riener	riener	PROPN
arjefm-66	44	6	(	(	PUNCT
arjefm-66	44	7	1979	1979	NUM
arjefm-66	44	8	)	)	PUNCT
arjefm-66	44	9	derived	derive	VERB
arjefm-66	44	10	an	an	DET
arjefm-66	44	11	explicit	explicit	ADJ
arjefm-66	44	12	form	form	NOUN
arjefm-66	44	13	solution	solution	NOUN
arjefm-66	44	14	of	of	ADP
arjefm-66	44	15	an	an	DET
arjefm-66	44	16	optimal	optimal	ADJ
arjefm-66	44	17	discount	discount	NOUN
arjefm-66	44	18	in	in	ADP
arjefm-66	44	19	a	a	DET
arjefm-66	44	20	situation	situation	NOUN
arjefm-66	44	21	where	where	SCONJ
arjefm-66	44	22	the	the	DET
arjefm-66	44	23	firm	firm	NOUN
arjefm-66	44	24	has	have	VERB
arjefm-66	44	25	no	no	DET
arjefm-66	44	26	bad	bad	ADJ
arjefm-66	44	27	-	-	PUNCT
arjefm-66	44	28	debt	debt	NOUN
arjefm-66	44	29	exposure	exposure	NOUN
arjefm-66	44	30	and	and	CCONJ
arjefm-66	44	31	the	the	DET
arjefm-66	44	32	fraction	fraction	NOUN
arjefm-66	44	33	of	of	ADP
arjefm-66	44	34	buyers	buyer	NOUN
arjefm-66	44	35	discounting	discount	VERB
arjefm-66	44	36	is	be	AUX
arjefm-66	44	37	known	know	VERB
arjefm-66	44	38	with	with	ADP
arjefm-66	44	39	certainty	certainty	PROPN
arjefm-66	44	40	.	.	PUNCT
arjefm-66	45	1	beranek	beranek	PROPN
arjefm-66	45	2	(	(	PUNCT
arjefm-66	45	3	1991	1991	NUM
arjefm-66	45	4	)	)	PUNCT
arjefm-66	45	5	provided	provide	VERB
arjefm-66	45	6	analysis	analysis	NOUN
arjefm-66	45	7	of	of	ADP
arjefm-66	45	8	behavioral	behavioral	ADJ
arjefm-66	45	9	factors	factor	NOUN
arjefm-66	45	10	determining	determine	VERB
arjefm-66	45	11	the	the	DET
arjefm-66	45	12	optimal	optimal	ADJ
arjefm-66	45	13	cash	cash	NOUN
arjefm-66	45	14	discount	discount	NOUN
arjefm-66	45	15	.	.	PUNCT
arjefm-66	46	1	recognizing	recognize	VERB
arjefm-66	46	2	that	that	SCONJ
arjefm-66	46	3	the	the	DET
arjefm-66	46	4	provision	provision	NOUN
arjefm-66	46	5	of	of	ADP
arjefm-66	46	6	a	a	DET
arjefm-66	46	7	cash	cash	NOUN
arjefm-66	46	8	discount	discount	NOUN
arjefm-66	46	9	is	be	AUX
arjefm-66	46	10	equivalent	equivalent	ADJ
arjefm-66	46	11	to	to	ADP
arjefm-66	46	12	a	a	DET
arjefm-66	46	13	reduction	reduction	NOUN
arjefm-66	46	14	in	in	ADP
arjefm-66	46	15	price	price	NOUN
arjefm-66	46	16	,	,	PUNCT
arjefm-66	46	17	rashid	rashid	PROPN
arjefm-66	46	18	and	and	CCONJ
arjefm-66	46	19	mitra	mitra	PROPN
arjefm-66	46	20	(	(	PUNCT
arjefm-66	46	21	1999	1999	NUM
arjefm-66	46	22	)	)	PUNCT
arjefm-66	46	23	linked	link	VERB
arjefm-66	46	24	it	it	PRON
arjefm-66	46	25	to	to	ADP
arjefm-66	46	26	the	the	DET
arjefm-66	46	27	price	price	NOUN
arjefm-66	46	28	elasticity	elasticity	NOUN
arjefm-66	46	29	of	of	ADP
arjefm-66	46	30	demand	demand	NOUN
arjefm-66	46	31	.	.	PUNCT
arjefm-66	47	1	further	far	ADV
arjefm-66	47	2	recognizing	recognize	VERB
arjefm-66	47	3	that	that	SCONJ
arjefm-66	47	4	a	a	DET
arjefm-66	47	5	cash	cash	NOUN
arjefm-66	47	6	discount	discount	NOUN
arjefm-66	47	7	for	for	ADP
arjefm-66	47	8	early	early	ADJ
arjefm-66	47	9	repayment	repayment	NOUN
arjefm-66	47	10	separates	separate	VERB
arjefm-66	47	11	buyers	buyer	NOUN
arjefm-66	47	12	with	with	ADP
arjefm-66	47	13	respect	respect	NOUN
arjefm-66	47	14	to	to	ADP
arjefm-66	47	15	their	their	PRON
arjefm-66	47	16	borrowing	borrowing	NOUN
arjefm-66	47	17	costs	cost	NOUN
arjefm-66	47	18	,	,	PUNCT
arjefm-66	47	19	lim	lim	PROPN
arjefm-66	47	20	and	and	CCONJ
arjefm-66	47	21	rashid	rashid	PROPN
arjefm-66	47	22	(	(	PUNCT
arjefm-66	47	23	2002	2002	NUM
arjefm-66	47	24	,	,	PUNCT
arjefm-66	47	25	2008	2008	NUM
arjefm-66	47	26	)	)	PUNCT
arjefm-66	47	27	introduce	introduce	VERB
arjefm-66	47	28	a	a	DET
arjefm-66	47	29	partial	partial	ADJ
arjefm-66	47	30	equilibrium	equilibrium	NOUN
arjefm-66	47	31	model	model	NOUN
arjefm-66	47	32	of	of	ADP
arjefm-66	47	33	thirddegree	thirddegree	ADJ
arjefm-66	47	34	price	price	NOUN
arjefm-66	47	35	discrimination	discrimination	NOUN
arjefm-66	47	36	where	where	SCONJ
arjefm-66	47	37	the	the	DET
arjefm-66	47	38	firm	firm	NOUN
arjefm-66	47	39	sets	set	VERB
arjefm-66	47	40	two	two	NUM
arjefm-66	47	41	prices	price	NOUN
arjefm-66	47	42	to	to	PART
arjefm-66	47	43	maximize	maximize	VERB
arjefm-66	47	44	npv	npv	NOUN
arjefm-66	47	45	:	:	PUNCT
arjefm-66	47	46	a	a	DET
arjefm-66	47	47	product	product	NOUN
arjefm-66	47	48	price	price	NOUN
arjefm-66	47	49	,	,	PUNCT
arjefm-66	47	50	and	and	CCONJ
arjefm-66	47	51	a	a	DET
arjefm-66	47	52	cash	cash	NOUN
arjefm-66	47	53	discount	discount	NOUN
arjefm-66	47	54	(	(	PUNCT
arjefm-66	47	55	which	which	PRON
arjefm-66	47	56	determines	determine	VERB
arjefm-66	47	57	the	the	DET
arjefm-66	47	58	effective	effective	ADJ
arjefm-66	47	59	price	price	NOUN
arjefm-66	47	60	in	in	ADP
arjefm-66	47	61	the	the	DET
arjefm-66	47	62	second	second	ADJ
arjefm-66	47	63	market	market	NOUN
arjefm-66	47	64	)	)	PUNCT
arjefm-66	47	65	.	.	PUNCT
arjefm-66	48	1	setting	set	VERB
arjefm-66	48	2	two	two	NUM
arjefm-66	48	3	prices	price	NOUN
arjefm-66	48	4	then	then	ADV
arjefm-66	48	5	requires	require	VERB
arjefm-66	48	6	two	two	NUM
arjefm-66	48	7	elasticities	elasticity	NOUN
arjefm-66	48	8	:	:	PUNCT
arjefm-66	48	9	a	a	DET
arjefm-66	48	10	cash	cash	NOUN
arjefm-66	48	11	discount	discount	NOUN
arjefm-66	48	12	elasticity	elasticity	NOUN
arjefm-66	48	13	of	of	ADP
arjefm-66	48	14	demand	demand	NOUN
arjefm-66	48	15	(	(	PUNCT
arjefm-66	48	16	which	which	PRON
arjefm-66	48	17	measures	measure	VERB
arjefm-66	48	18	the	the	DET
arjefm-66	48	19	sensitivity	sensitivity	NOUN
arjefm-66	48	20	of	of	ADP
arjefm-66	48	21	sales	sale	NOUN
arjefm-66	48	22	to	to	ADP
arjefm-66	48	23	the	the	DET
arjefm-66	48	24	cash	cash	NOUN
arjefm-66	48	25	discount	discount	NOUN
arjefm-66	48	26	or	or	CCONJ
arjefm-66	48	27	credit	credit	NOUN
arjefm-66	48	28	terms	term	NOUN
arjefm-66	48	29	in	in	ADP
arjefm-66	48	30	general	general	ADJ
arjefm-66	48	31	)	)	PUNCT
arjefm-66	48	32	,	,	PUNCT
arjefm-66	48	33	and	and	CCONJ
arjefm-66	48	34	the	the	DET
arjefm-66	48	35	product	product	NOUN
arjefm-66	48	36	price	price	NOUN
arjefm-66	48	37	elasticity	elasticity	NOUN
arjefm-66	48	38	of	of	ADP
arjefm-66	48	39	demand	demand	NOUN
arjefm-66	48	40	(	(	PUNCT
arjefm-66	48	41	which	which	PRON
arjefm-66	48	42	measures	measure	VERB
arjefm-66	48	43	the	the	DET
arjefm-66	48	44	sensitivity	sensitivity	NOUN
arjefm-66	48	45	of	of	ADP
arjefm-66	48	46	sales	sale	NOUN
arjefm-66	48	47	to	to	ADP
arjefm-66	48	48	the	the	DET
arjefm-66	48	49	product	product	NOUN
arjefm-66	48	50	price	price	NOUN
arjefm-66	48	51	)	)	PUNCT
arjefm-66	48	52	.	.	PUNCT
arjefm-66	49	1	the	the	DET
arjefm-66	49	2	main	main	ADJ
arjefm-66	49	3	conclusion	conclusion	NOUN
arjefm-66	49	4	of	of	ADP
arjefm-66	49	5	their	their	PRON
arjefm-66	49	6	paper	paper	NOUN
arjefm-66	49	7	is	be	AUX
arjefm-66	49	8	that	that	SCONJ
arjefm-66	49	9	the	the	DET
arjefm-66	49	10	effect	effect	NOUN
arjefm-66	49	11	of	of	ADP
arjefm-66	49	12	the	the	DET
arjefm-66	49	13	cash	cash	NOUN
arjefm-66	49	14	discount	discount	NOUN
arjefm-66	49	15	elasticity	elasticity	NOUN
arjefm-66	49	16	is	be	AUX
arjefm-66	49	17	mainly	mainly	ADV
arjefm-66	49	18	on	on	ADP
arjefm-66	49	19	the	the	DET
arjefm-66	49	20	optimal	optimal	ADJ
arjefm-66	49	21	cash	cash	NOUN
arjefm-66	49	22	discount	discount	NOUN
arjefm-66	49	23	,	,	PUNCT
arjefm-66	49	24	while	while	SCONJ
arjefm-66	49	25	the	the	DET
arjefm-66	49	26	effect	effect	NOUN
arjefm-66	49	27	of	of	ADP
arjefm-66	49	28	product	product	NOUN
arjefm-66	49	29	price	price	NOUN
arjefm-66	49	30	elasticity	elasticity	NOUN
arjefm-66	49	31	is	be	AUX
arjefm-66	49	32	mainly	mainly	ADV
arjefm-66	49	33	on	on	ADP
arjefm-66	49	34	the	the	DET
arjefm-66	49	35	optimal	optimal	ADJ
arjefm-66	49	36	product	product	NOUN
arjefm-66	49	37	price	price	NOUN
arjefm-66	49	38	.	.	PUNCT
arjefm-66	50	1	mailto:contact@americaserial.com	mailto:contact@americaserial.com	X
arjefm-66	50	2	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-66	51	1	american	american	PROPN
arjefm-66	51	2	research	research	PROPN
arjefm-66	51	3	journal	journal	PROPN
arjefm-66	51	4	of	of	ADP
arjefm-66	51	5	economics	economic	NOUN
arjefm-66	51	6	,	,	PUNCT
arjefm-66	51	7	finance	finance	NOUN
arjefm-66	51	8	and	and	CCONJ
arjefm-66	51	9	management	management	NOUN
arjefm-66	51	10	volume	volume	NOUN
arjefm-66	51	11	10	10	NUM
arjefm-66	51	12	issue	issue	NOUN
arjefm-66	51	13	2	2	NUM
arjefm-66	51	14	,	,	PUNCT
arjefm-66	51	15	april	april	PROPN
arjefm-66	51	16	-	-	PUNCT
arjefm-66	51	17	june	june	PROPN
arjefm-66	51	18	2022	2022	PROPN
arjefm-66	51	19	issn	issn	PROPN
arjefm-66	51	20	:	:	PUNCT
arjefm-66	51	21	2836	2836	NUM
arjefm-66	51	22	-	-	SYM
arjefm-66	51	23	9416	9416	NUM
arjefm-66	51	24	impact	impact	NOUN
arjefm-66	51	25	factor	factor	NOUN
arjefm-66	51	26	:	:	PUNCT
arjefm-66	51	27	4.85	4.85	NUM
arjefm-66	51	28	journal	journal	NOUN
arjefm-66	51	29	homepage	homepage	NOUN
arjefm-66	51	30	:	:	PUNCT
arjefm-66	51	31	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-66	51	32	,	,	PUNCT
arjefm-66	51	33	email	email	NOUN
arjefm-66	51	34	:	:	PUNCT
arjefm-66	51	35	contact@americaserial.com	contact@americaserial.com	PROPN
arjefm-66	51	36	official	official	ADJ
arjefm-66	51	37	journal	journal	PROPN
arjefm-66	51	38	of	of	ADP
arjefm-66	51	39	america	america	PROPN
arjefm-66	51	40	serial	serial	PROPN
arjefm-66	51	41	publication	publication	NOUN
arjefm-66	51	42	american	american	PROPN
arjefm-66	51	43	research	research	PROPN
arjefm-66	51	44	journal	journal	PROPN
arjefm-66	51	45	of	of	ADP
arjefm-66	51	46	economics	economic	NOUN
arjefm-66	51	47	,	,	PUNCT
arjefm-66	51	48	finance	finance	NOUN
arjefm-66	51	49	and	and	CCONJ
arjefm-66	51	50	management	management	NOUN
arjefm-66	51	51	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-66	51	52	,	,	PUNCT
arjefm-66	51	53	email	email	NOUN
arjefm-66	51	54	:	:	PUNCT
arjefm-66	51	55	contact@americaserial.com	contact@americaserial.com	X
arjefm-66	52	1	45	45	NUM
arjefm-66	53	1	|	|	ADV
arjefm-66	53	2	p	p	X
arjefm-66	53	3	a	a	DET
arjefm-66	53	4	g	g	NOUN
arjefm-66	53	5	e	e	NOUN
arjefm-66	53	6	3	3	NUM
arjefm-66	53	7	.	.	PUNCT
arjefm-66	53	8	theoretical	theoretical	ADJ
arjefm-66	53	9	analysis	analysis	NOUN
arjefm-66	53	10	in	in	ADP
arjefm-66	53	11	order	order	NOUN
arjefm-66	53	12	to	to	PART
arjefm-66	53	13	solve	solve	VERB
arjefm-66	53	14	for	for	ADP
arjefm-66	53	15	the	the	DET
arjefm-66	53	16	product	product	NOUN
arjefm-66	53	17	price	price	NOUN
arjefm-66	53	18	,	,	PUNCT
arjefm-66	53	19	p	p	X
arjefm-66	53	20	,	,	PUNCT
arjefm-66	53	21	and	and	CCONJ
arjefm-66	53	22	the	the	DET
arjefm-66	53	23	cash	cash	NOUN
arjefm-66	53	24	discount	discount	NOUN
arjefm-66	53	25	,	,	PUNCT
arjefm-66	53	26	d	d	PROPN
arjefm-66	53	27	,	,	PUNCT
arjefm-66	53	28	lim	lim	PROPN
arjefm-66	53	29	and	and	CCONJ
arjefm-66	53	30	rashid	rashid	PROPN
arjefm-66	53	31	(	(	PUNCT
arjefm-66	53	32	2002	2002	NUM
arjefm-66	53	33	,	,	PUNCT
arjefm-66	53	34	2008	2008	NUM
arjefm-66	53	35	)	)	PUNCT
arjefm-66	53	36	needed	need	VERB
arjefm-66	53	37	two	two	NUM
arjefm-66	53	38	separate	separate	ADJ
arjefm-66	53	39	elasticities	elasticity	NOUN
arjefm-66	53	40	of	of	ADP
arjefm-66	53	41	demand	demand	NOUN
arjefm-66	53	42	,	,	PUNCT
arjefm-66	53	43	q	q	NOUN
arjefm-66	53	44	:	:	PUNCT
arjefm-66	53	45	(	(	PUNCT
arjefm-66	53	46	a	a	X
arjefm-66	53	47	)	)	PUNCT
arjefm-66	53	48	the	the	DET
arjefm-66	53	49	cash	cash	NOUN
arjefm-66	53	50	discount	discount	NOUN
arjefm-66	53	51	elasticity	elasticity	NOUN
arjefm-66	53	52	of	of	ADP
arjefm-66	53	53	demand	demand	NOUN
arjefm-66	53	54	,	,	PUNCT
arjefm-66	53	55	denoted	denote	VERB
arjefm-66	53	56	by	by	ADP
arjefm-66	53	57	ηd	ηd	NOUN
arjefm-66	53	58	,	,	PUNCT
arjefm-66	53	59	where	where	SCONJ
arjefm-66	53	60	:	:	PUNCT
arjefm-66	53	61	.q	.q	PROPN
arjefm-66	54	1	d	d	PUNCT
arjefm-66	54	2	ηd	ηd	NOUN
arjefm-66	54	3	=	=	PUNCT
arjefm-66	54	4	(	(	PUNCT
arjefm-66	54	5	1	1	NUM
arjefm-66	54	6	)	)	PUNCT
arjefm-66	54	7	d	d	NOUN
arjefm-66	54	8	q	q	NOUN
arjefm-66	54	9	and	and	CCONJ
arjefm-66	54	10	(	(	PUNCT
arjefm-66	54	11	b	b	X
arjefm-66	54	12	)	)	PUNCT
arjefm-66	54	13	the	the	DET
arjefm-66	54	14	product	product	NOUN
arjefm-66	54	15	price	price	NOUN
arjefm-66	54	16	elasticity	elasticity	NOUN
arjefm-66	54	17	of	of	ADP
arjefm-66	54	18	demand	demand	NOUN
arjefm-66	54	19	,	,	PUNCT
arjefm-66	54	20	denoted	denote	VERB
arjefm-66	54	21	by	by	ADP
arjefm-66	54	22	ηp	ηp	PROPN
arjefm-66	54	23	,	,	PUNCT
arjefm-66	54	24	where	where	SCONJ
arjefm-66	54	25	:	:	PUNCT
arjefm-66	54	26	.q	.q	PROPN
arjefm-66	55	1	p	p	X
arjefm-66	56	1	ηp	ηp	PROPN
arjefm-66	56	2	=	=	PUNCT
arjefm-66	56	3	(	(	PUNCT
arjefm-66	56	4	2	2	NUM
arjefm-66	56	5	)	)	PUNCT
arjefm-66	56	6	q	q	NOUN
arjefm-66	56	7	p	p	NOUN
arjefm-66	56	8	since	since	SCONJ
arjefm-66	56	9	this	this	DET
arjefm-66	56	10	paper	paper	NOUN
arjefm-66	56	11	builds	build	VERB
arjefm-66	56	12	on	on	ADP
arjefm-66	56	13	the	the	DET
arjefm-66	56	14	model	model	NOUN
arjefm-66	56	15	of	of	ADP
arjefm-66	56	16	lim	lim	PROPN
arjefm-66	56	17	and	and	CCONJ
arjefm-66	56	18	rashid	rashid	PROPN
arjefm-66	56	19	(	(	PUNCT
arjefm-66	56	20	2002	2002	NUM
arjefm-66	56	21	,	,	PUNCT
arjefm-66	56	22	2008	2008	NUM
arjefm-66	56	23	)	)	PUNCT
arjefm-66	56	24	,	,	PUNCT
arjefm-66	56	25	it	it	PRON
arjefm-66	56	26	is	be	AUX
arjefm-66	56	27	essential	essential	ADJ
arjefm-66	56	28	that	that	SCONJ
arjefm-66	56	29	the	the	DET
arjefm-66	56	30	assumptions	assumption	NOUN
arjefm-66	56	31	,	,	PUNCT
arjefm-66	56	32	notation	notation	NOUN
arjefm-66	56	33	and	and	CCONJ
arjefm-66	56	34	the	the	DET
arjefm-66	56	35	model	model	NOUN
arjefm-66	56	36	be	be	AUX
arjefm-66	56	37	presented	present	VERB
arjefm-66	56	38	briefly	briefly	ADV
arjefm-66	56	39	.	.	PUNCT
arjefm-66	57	1	a	a	DET
arjefm-66	57	2	single	single	ADJ
arjefm-66	57	3	period	period	NOUN
arjefm-66	57	4	framework	framework	NOUN
arjefm-66	57	5	is	be	AUX
arjefm-66	57	6	assumed	assume	VERB
arjefm-66	57	7	.	.	PUNCT
arjefm-66	58	1	at	at	ADP
arjefm-66	58	2	the	the	DET
arjefm-66	58	3	beginning	beginning	NOUN
arjefm-66	58	4	of	of	ADP
arjefm-66	58	5	the	the	DET
arjefm-66	58	6	period	period	NOUN
arjefm-66	58	7	,	,	PUNCT
arjefm-66	58	8	both	both	DET
arjefm-66	58	9	production	production	NOUN
arjefm-66	58	10	and	and	CCONJ
arjefm-66	58	11	sale	sale	NOUN
arjefm-66	58	12	of	of	ADP
arjefm-66	58	13	q	q	DET
arjefm-66	58	14	quantity	quantity	NOUN
arjefm-66	58	15	of	of	ADP
arjefm-66	58	16	output	output	NOUN
arjefm-66	58	17	takes	take	VERB
arjefm-66	58	18	place	place	NOUN
arjefm-66	58	19	,	,	PUNCT
arjefm-66	58	20	with	with	SCONJ
arjefm-66	58	21	the	the	DET
arjefm-66	58	22	variable	variable	ADJ
arjefm-66	58	23	cost	cost	NOUN
arjefm-66	58	24	per	per	ADP
arjefm-66	58	25	unit	unit	NOUN
arjefm-66	58	26	,	,	PUNCT
arjefm-66	58	27	v	v	PROPN
arjefm-66	58	28	,	,	PUNCT
arjefm-66	58	29	assumed	assume	VERB
arjefm-66	58	30	to	to	PART
arjefm-66	58	31	be	be	AUX
arjefm-66	58	32	constant	constant	ADJ
arjefm-66	58	33	.	.	PUNCT
arjefm-66	59	1	given	give	VERB
arjefm-66	59	2	the	the	DET
arjefm-66	59	3	length	length	NOUN
arjefm-66	59	4	of	of	ADP
arjefm-66	59	5	credit	credit	NOUN
arjefm-66	59	6	period	period	NOUN
arjefm-66	59	7	n2	n2	ADJ
arjefm-66	59	8	days	day	NOUN
arjefm-66	59	9	,	,	PUNCT
arjefm-66	59	10	the	the	DET
arjefm-66	59	11	firm	firm	NOUN
arjefm-66	59	12	considers	consider	VERB
arjefm-66	59	13	providing	provide	VERB
arjefm-66	59	14	a	a	DET
arjefm-66	59	15	cash	cash	NOUN
arjefm-66	59	16	discount	discount	NOUN
arjefm-66	59	17	rate	rate	NOUN
arjefm-66	59	18	,	,	PUNCT
arjefm-66	59	19	d	d	NOUN
arjefm-66	59	20	,	,	PUNCT
arjefm-66	59	21	for	for	ADP
arjefm-66	59	22	early	early	ADJ
arjefm-66	59	23	repayment	repayment	NOUN
arjefm-66	59	24	of	of	ADP
arjefm-66	59	25	invoices	invoice	NOUN
arjefm-66	59	26	by	by	ADP
arjefm-66	59	27	customers	customer	NOUN
arjefm-66	59	28	.	.	PUNCT
arjefm-66	60	1	if	if	SCONJ
arjefm-66	60	2	a	a	DET
arjefm-66	60	3	cash	cash	NOUN
arjefm-66	60	4	discount	discount	NOUN
arjefm-66	60	5	is	be	AUX
arjefm-66	60	6	provided	provide	VERB
arjefm-66	60	7	,	,	PUNCT
arjefm-66	60	8	we	we	PRON
arjefm-66	60	9	denote	denote	VERB
arjefm-66	60	10	the	the	DET
arjefm-66	60	11	discount	discount	NOUN
arjefm-66	60	12	period	period	NOUN
arjefm-66	60	13	as	as	ADP
arjefm-66	60	14	n1	n1	ADJ
arjefm-66	60	15	days	day	NOUN
arjefm-66	60	16	.	.	PUNCT
arjefm-66	61	1	the	the	DET
arjefm-66	61	2	sales	sale	NOUN
arjefm-66	61	3	are	be	AUX
arjefm-66	61	4	assumed	assume	VERB
arjefm-66	61	5	to	to	PART
arjefm-66	61	6	be	be	AUX
arjefm-66	61	7	uniformly	uniformly	ADV
arjefm-66	61	8	distributed	distribute	VERB
arjefm-66	61	9	among	among	ADP
arjefm-66	61	10	customers	customer	NOUN
arjefm-66	61	11	.	.	PUNCT
arjefm-66	62	1	we	we	PRON
arjefm-66	62	2	assume	assume	VERB
arjefm-66	62	3	that	that	SCONJ
arjefm-66	62	4	p	p	PROPN
arjefm-66	62	5	fraction	fraction	NOUN
arjefm-66	62	6	of	of	ADP
arjefm-66	62	7	customers	customer	NOUN
arjefm-66	62	8	take	take	VERB
arjefm-66	62	9	the	the	DET
arjefm-66	62	10	cash	cash	NOUN
arjefm-66	62	11	discount	discount	NOUN
arjefm-66	62	12	,	,	PUNCT
arjefm-66	62	13	and	and	CCONJ
arjefm-66	62	14	of	of	ADP
arjefm-66	62	15	the	the	DET
arjefm-66	62	16	(	(	PUNCT
arjefm-66	62	17	1	1	NUM
arjefm-66	62	18	-	-	PUNCT
arjefm-66	62	19	p	p	NOUN
arjefm-66	62	20	)	)	PUNCT
arjefm-66	62	21	fraction	fraction	NOUN
arjefm-66	62	22	that	that	PRON
arjefm-66	62	23	decline	decline	VERB
arjefm-66	62	24	the	the	DET
arjefm-66	62	25	cash	cash	NOUN
arjefm-66	62	26	discount	discount	NOUN
arjefm-66	62	27	,	,	PUNCT
arjefm-66	62	28	a	a	DET
arjefm-66	62	29	λ	λ	NOUN
arjefm-66	62	30	fraction	fraction	NOUN
arjefm-66	62	31	of	of	ADP
arjefm-66	62	32	these	these	DET
arjefm-66	62	33	customers	customer	NOUN
arjefm-66	62	34	pay	pay	VERB
arjefm-66	62	35	on	on	ADP
arjefm-66	62	36	day	day	NOUN
arjefm-66	62	37	n2	n2	NOUN
arjefm-66	62	38	.	.	PUNCT
arjefm-66	63	1	thus	thus	ADV
arjefm-66	63	2	,	,	PUNCT
arjefm-66	63	3	(	(	PUNCT
arjefm-66	63	4	1	1	NUM
arjefm-66	63	5	-	-	PUNCT
arjefm-66	63	6	p)(1	p)(1	NOUN
arjefm-66	63	7	-	-	PUNCT
arjefm-66	63	8	λ	λ	NOUN
arjefm-66	63	9	)	)	PUNCT
arjefm-66	63	10	fraction	fraction	NOUN
arjefm-66	63	11	of	of	ADP
arjefm-66	63	12	customers	customer	NOUN
arjefm-66	63	13	are	be	AUX
arjefm-66	63	14	those	those	PRON
arjefm-66	63	15	who	who	PRON
arjefm-66	63	16	do	do	AUX
arjefm-66	63	17	not	not	PART
arjefm-66	63	18	take	take	VERB
arjefm-66	63	19	the	the	DET
arjefm-66	63	20	cash	cash	NOUN
arjefm-66	63	21	discount	discount	NOUN
arjefm-66	63	22	and	and	CCONJ
arjefm-66	63	23	do	do	AUX
arjefm-66	63	24	not	not	PART
arjefm-66	63	25	pay	pay	VERB
arjefm-66	63	26	on	on	ADP
arjefm-66	63	27	day	day	NOUN
arjefm-66	63	28	n2	n2	NOUN
arjefm-66	63	29	.	.	PUNCT
arjefm-66	64	1	this	this	DET
arjefm-66	64	2	(	(	PUNCT
arjefm-66	64	3	1	1	NUM
arjefm-66	64	4	-	-	PUNCT
arjefm-66	64	5	p)(1	p)(1	NOUN
arjefm-66	64	6	-	-	PUNCT
arjefm-66	64	7	λ	λ	NOUN
arjefm-66	64	8	)	)	PUNCT
arjefm-66	64	9	fraction	fraction	NOUN
arjefm-66	64	10	therefore	therefore	ADV
arjefm-66	64	11	default	default	VERB
arjefm-66	64	12	and	and	CCONJ
arjefm-66	64	13	become	become	VERB
arjefm-66	64	14	a	a	DET
arjefm-66	64	15	bad	bad	ADJ
arjefm-66	64	16	debt	debt	NOUN
arjefm-66	64	17	loss	loss	NOUN
arjefm-66	64	18	.	.	PUNCT
arjefm-66	65	1	the	the	DET
arjefm-66	65	2	firm	firm	NOUN
arjefm-66	65	3	sets	set	VERB
arjefm-66	65	4	not	not	PART
arjefm-66	65	5	only	only	ADV
arjefm-66	65	6	the	the	DET
arjefm-66	65	7	value	value	NOUN
arjefm-66	65	8	of	of	ADP
arjefm-66	65	9	d	d	PROPN
arjefm-66	65	10	but	but	CCONJ
arjefm-66	65	11	also	also	ADV
arjefm-66	65	12	the	the	DET
arjefm-66	65	13	level	level	NOUN
arjefm-66	65	14	of	of	ADP
arjefm-66	65	15	p	p	NOUN
arjefm-66	65	16	.	.	PUNCT
arjefm-66	66	1	assuming	assume	VERB
arjefm-66	66	2	that	that	SCONJ
arjefm-66	66	3	the	the	DET
arjefm-66	66	4	annual	annual	ADJ
arjefm-66	66	5	cost	cost	NOUN
arjefm-66	66	6	of	of	ADP
arjefm-66	66	7	short	short	ADJ
arjefm-66	66	8	-	-	PUNCT
arjefm-66	66	9	term	term	NOUN
arjefm-66	66	10	funds	fund	NOUN
arjefm-66	66	11	,	,	PUNCT
arjefm-66	66	12	k	k	NOUN
arjefm-66	66	13	,	,	PUNCT
arjefm-66	66	14	is	be	AUX
arjefm-66	66	15	initially	initially	ADV
arjefm-66	66	16	constant	constant	ADJ
arjefm-66	66	17	,	,	PUNCT
arjefm-66	66	18	the	the	DET
arjefm-66	66	19	net	net	ADJ
arjefm-66	66	20	present	present	ADJ
arjefm-66	66	21	value	value	NOUN
arjefm-66	66	22	of	of	ADP
arjefm-66	66	23	accounts	account	NOUN
arjefm-66	66	24	receivable	receivable	ADJ
arjefm-66	66	25	is	be	AUX
arjefm-66	66	26	given	give	VERB
arjefm-66	66	27	by	by	ADP
arjefm-66	66	28	:	:	PUNCT
arjefm-66	66	29	v	v	NOUN
arjefm-66	66	30	=	=	SYM
arjefm-66	66	31	p	p	X
arjefm-66	66	32	(	(	PUNCT
arjefm-66	66	33	1	1	NUM
arjefm-66	66	34	-	-	SYM
arjefm-66	66	35	d	d	NOUN
arjefm-66	66	36	)	)	PUNCT
arjefm-66	66	37	pq(1+k)-n1/360	pq(1+k)-n1/360	NOUN
arjefm-66	66	38	+	+	CCONJ
arjefm-66	66	39	(	(	PUNCT
arjefm-66	66	40	1	1	NUM
arjefm-66	66	41	-	-	PUNCT
arjefm-66	66	42	p)λpq(1+k)-n2/360	p)λpq(1+k)-n2/360	NOUN
arjefm-66	66	43	–	–	PUNCT
arjefm-66	66	44	vq	vq	NOUN
arjefm-66	66	45	(	(	PUNCT
arjefm-66	66	46	3	3	X
arjefm-66	66	47	)	)	PUNCT
arjefm-66	66	48	the	the	DET
arjefm-66	66	49	first	first	ADJ
arjefm-66	66	50	term	term	NOUN
arjefm-66	66	51	represents	represent	VERB
arjefm-66	66	52	the	the	DET
arjefm-66	66	53	present	present	ADJ
arjefm-66	66	54	value	value	NOUN
arjefm-66	66	55	of	of	ADP
arjefm-66	66	56	payments	payment	NOUN
arjefm-66	66	57	by	by	ADP
arjefm-66	66	58	customers	customer	NOUN
arjefm-66	66	59	who	who	PRON
arjefm-66	66	60	take	take	VERB
arjefm-66	66	61	the	the	DET
arjefm-66	66	62	cash	cash	NOUN
arjefm-66	66	63	discount	discount	NOUN
arjefm-66	66	64	,	,	PUNCT
arjefm-66	66	65	while	while	SCONJ
arjefm-66	66	66	the	the	DET
arjefm-66	66	67	second	second	ADJ
arjefm-66	66	68	term	term	NOUN
arjefm-66	66	69	represents	represent	VERB
arjefm-66	66	70	the	the	DET
arjefm-66	66	71	present	present	ADJ
arjefm-66	66	72	value	value	NOUN
arjefm-66	66	73	of	of	ADP
arjefm-66	66	74	payments	payment	NOUN
arjefm-66	66	75	by	by	ADP
arjefm-66	66	76	customers	customer	NOUN
arjefm-66	66	77	who	who	PRON
arjefm-66	66	78	do	do	AUX
arjefm-66	66	79	not	not	PART
arjefm-66	66	80	take	take	VERB
arjefm-66	66	81	the	the	DET
arjefm-66	66	82	cash	cash	NOUN
arjefm-66	66	83	discount	discount	NOUN
arjefm-66	66	84	and	and	CCONJ
arjefm-66	66	85	pay	pay	VERB
arjefm-66	66	86	on	on	ADP
arjefm-66	66	87	day	day	NOUN
arjefm-66	66	88	n2	n2	NOUN
arjefm-66	66	89	.	.	PUNCT
arjefm-66	67	1	the	the	DET
arjefm-66	67	2	last	last	ADJ
arjefm-66	67	3	term	term	NOUN
arjefm-66	67	4	gives	give	VERB
arjefm-66	67	5	the	the	DET
arjefm-66	67	6	variable	variable	ADJ
arjefm-66	67	7	cost	cost	NOUN
arjefm-66	67	8	of	of	ADP
arjefm-66	67	9	production	production	NOUN
arjefm-66	67	10	,	,	PUNCT
arjefm-66	67	11	q.	q.	PROPN
arjefm-66	67	12	the	the	DET
arjefm-66	67	13	firm	firm	NOUN
arjefm-66	67	14	’s	’s	PART
arjefm-66	67	15	problem	problem	NOUN
arjefm-66	67	16	is	be	AUX
arjefm-66	67	17	to	to	PART
arjefm-66	67	18	optimally	optimally	ADV
arjefm-66	67	19	choose	choose	VERB
arjefm-66	67	20	the	the	DET
arjefm-66	67	21	cash	cash	NOUN
arjefm-66	67	22	discount	discount	NOUN
arjefm-66	67	23	rate	rate	NOUN
arjefm-66	67	24	,	,	PUNCT
arjefm-66	67	25	d	d	NOUN
arjefm-66	67	26	,	,	PUNCT
arjefm-66	67	27	and	and	CCONJ
arjefm-66	67	28	the	the	DET
arjefm-66	67	29	product	product	NOUN
arjefm-66	67	30	price	price	NOUN
arjefm-66	67	31	,	,	PUNCT
arjefm-66	68	1	p.	p.	NOUN
arjefm-66	69	1	the	the	DET
arjefm-66	69	2	optimal	optimal	ADJ
arjefm-66	69	3	cash	cash	NOUN
arjefm-66	69	4	discount	discount	NOUN
arjefm-66	69	5	rate	rate	NOUN
arjefm-66	69	6	and	and	CCONJ
arjefm-66	69	7	product	product	NOUN
arjefm-66	69	8	price	price	NOUN
arjefm-66	69	9	will	will	AUX
arjefm-66	69	10	be	be	AUX
arjefm-66	69	11	denoted	denote	VERB
arjefm-66	69	12	by	by	ADP
arjefm-66	69	13	d	d	PROPN
arjefm-66	69	14	*	*	PROPN
arjefm-66	69	15	and	and	CCONJ
arjefm-66	69	16	p	p	X
arjefm-66	69	17	*	*	PUNCT
arjefm-66	69	18	respectively	respectively	ADV
arjefm-66	69	19	.	.	PUNCT
arjefm-66	70	1	the	the	DET
arjefm-66	70	2	separation	separation	NOUN
arjefm-66	70	3	of	of	ADP
arjefm-66	70	4	customers	customer	NOUN
arjefm-66	70	5	to	to	ADP
arjefm-66	70	6	those	those	PRON
arjefm-66	70	7	taking	take	VERB
arjefm-66	70	8	the	the	DET
arjefm-66	70	9	cash	cash	NOUN
arjefm-66	70	10	discount	discount	NOUN
arjefm-66	70	11	and	and	CCONJ
arjefm-66	70	12	those	those	PRON
arjefm-66	70	13	not	not	PART
arjefm-66	70	14	taking	take	VERB
arjefm-66	70	15	the	the	DET
arjefm-66	70	16	cash	cash	NOUN
arjefm-66	70	17	discount	discount	NOUN
arjefm-66	70	18	makes	make	VERB
arjefm-66	70	19	the	the	DET
arjefm-66	70	20	model	model	NOUN
arjefm-66	70	21	one	one	NUM
arjefm-66	70	22	of	of	ADP
arjefm-66	70	23	third	third	ADJ
arjefm-66	70	24	-	-	PUNCT
arjefm-66	70	25	degree	degree	NOUN
arjefm-66	70	26	price	price	NOUN
arjefm-66	70	27	discrimination	discrimination	NOUN
arjefm-66	70	28	,	,	PUNCT
arjefm-66	70	29	similar	similar	ADJ
arjefm-66	70	30	to	to	ADP
arjefm-66	70	31	the	the	DET
arjefm-66	70	32	model	model	NOUN
arjefm-66	70	33	in	in	ADP
arjefm-66	70	34	layson	layson	NOUN
arjefm-66	70	35	(	(	PUNCT
arjefm-66	70	36	1998	1998	NUM
arjefm-66	70	37	)	)	PUNCT
arjefm-66	70	38	.	.	PUNCT
arjefm-66	71	1	layson	layson	NOUN
arjefm-66	71	2	denotes	denote	VERB
arjefm-66	71	3	each	each	DET
arjefm-66	71	4	market	market	NOUN
arjefm-66	71	5	by	by	ADP
arjefm-66	71	6	1	1	NUM
arjefm-66	71	7	and	and	CCONJ
arjefm-66	71	8	2	2	NUM
arjefm-66	71	9	,	,	PUNCT
arjefm-66	71	10	and	and	CCONJ
arjefm-66	71	11	denotes	denote	VERB
arjefm-66	71	12	price	price	NOUN
arjefm-66	71	13	and	and	CCONJ
arjefm-66	71	14	quantity	quantity	NOUN
arjefm-66	71	15	by	by	ADP
arjefm-66	71	16	p	p	NOUN
arjefm-66	71	17	and	and	CCONJ
arjefm-66	71	18	q.	q.	NOUN
arjefm-66	71	19	equation	equation	NOUN
arjefm-66	71	20	(	(	PUNCT
arjefm-66	71	21	3	3	NUM
arjefm-66	71	22	)	)	PUNCT
arjefm-66	71	23	above	above	ADV
arjefm-66	71	24	would	would	AUX
arjefm-66	71	25	then	then	ADV
arjefm-66	71	26	be	be	AUX
arjefm-66	71	27	a	a	DET
arjefm-66	71	28	special	special	ADJ
arjefm-66	71	29	case	case	NOUN
arjefm-66	71	30	of	of	ADP
arjefm-66	71	31	layson	layson	NOUN
arjefm-66	71	32	’s	’s	PART
arjefm-66	71	33	(	(	PUNCT
arjefm-66	71	34	1998	1998	NUM
arjefm-66	71	35	)	)	PUNCT
arjefm-66	71	36	profit	profit	NOUN
arjefm-66	71	37	function	function	NOUN
arjefm-66	71	38	,	,	PUNCT
arjefm-66	71	39	π(p1,p2)=p1q1+p2q2	π(p1,p2)=p1q1+p2q2	NOUN
arjefm-66	71	40	-	-	PUNCT
arjefm-66	71	41	c(q	c(q	PROPN
arjefm-66	71	42	)	)	PUNCT
arjefm-66	71	43	,	,	PUNCT
arjefm-66	71	44	where	where	SCONJ
arjefm-66	71	45	p1	p1	NOUN
arjefm-66	71	46	=	=	PROPN
arjefm-66	71	47	p(1	p(1	PROPN
arjefm-66	71	48	-	-	PUNCT
arjefm-66	71	49	d)(1+k)-n1/360	d)(1+k)-n1/360	NOUN
arjefm-66	71	50	,	,	PUNCT
arjefm-66	71	51	p2	p2	PROPN
arjefm-66	71	52	=	=	SYM
arjefm-66	71	53	p(1+k)n2/360	p(1+k)n2/360	PROPN
arjefm-66	71	54	,	,	PUNCT
arjefm-66	71	55	q1	q1	NOUN
arjefm-66	71	56	=	=	SYM
arjefm-66	71	57	pq	pq	PROPN
arjefm-66	71	58	,	,	PUNCT
arjefm-66	71	59	q2=(1	q2=(1	NOUN
arjefm-66	71	60	-	-	PUNCT
arjefm-66	71	61	p)λq	p)λq	PROPN
arjefm-66	71	62	and	and	CCONJ
arjefm-66	71	63	c(q)=vq	c(q)=vq	PROPN
arjefm-66	71	64	.	.	PUNCT
arjefm-66	72	1	as	as	SCONJ
arjefm-66	72	2	our	our	PRON
arjefm-66	72	3	model	model	NOUN
arjefm-66	72	4	is	be	AUX
arjefm-66	72	5	one	one	NUM
arjefm-66	72	6	of	of	ADP
arjefm-66	72	7	price	price	NOUN
arjefm-66	72	8	discrimination	discrimination	NOUN
arjefm-66	72	9	,	,	PUNCT
arjefm-66	72	10	we	we	PRON
arjefm-66	72	11	would	would	AUX
arjefm-66	72	12	also	also	ADV
arjefm-66	72	13	require	require	VERB
arjefm-66	72	14	the	the	DET
arjefm-66	72	15	three	three	NUM
arjefm-66	72	16	conditions	condition	NOUN
arjefm-66	72	17	for	for	ADP
arjefm-66	72	18	price	price	NOUN
arjefm-66	72	19	discrimination	discrimination	NOUN
arjefm-66	72	20	to	to	PART
arjefm-66	72	21	exist	exist	VERB
arjefm-66	72	22	as	as	SCONJ
arjefm-66	72	23	postulated	postulate	VERB
arjefm-66	72	24	by	by	ADP
arjefm-66	72	25	carroll	carroll	PROPN
arjefm-66	72	26	and	and	CCONJ
arjefm-66	72	27	coates	coates	PROPN
arjefm-66	72	28	(	(	PUNCT
arjefm-66	72	29	1999	1999	NUM
arjefm-66	72	30	):	):	PUNCT
arjefm-66	72	31	(	(	PUNCT
arjefm-66	72	32	i	i	NOUN
arjefm-66	72	33	)	)	PUNCT
arjefm-66	72	34	the	the	DET
arjefm-66	72	35	firm	firm	NOUN
arjefm-66	72	36	must	must	AUX
arjefm-66	72	37	have	have	VERB
arjefm-66	72	38	some	some	DET
arjefm-66	72	39	market	market	NOUN
arjefm-66	72	40	power	power	NOUN
arjefm-66	72	41	;	;	PUNCT
arjefm-66	72	42	(	(	PUNCT
arjefm-66	72	43	ii	ii	NOUN
arjefm-66	72	44	)	)	PUNCT
arjefm-66	72	45	there	there	PRON
arjefm-66	72	46	can	can	AUX
arjefm-66	72	47	be	be	AUX
arjefm-66	72	48	at	at	ADP
arjefm-66	72	49	best	good	ADJ
arjefm-66	72	50	imperfect	imperfect	ADJ
arjefm-66	72	51	arbitrage	arbitrage	NOUN
arjefm-66	72	52	opportunities	opportunity	NOUN
arjefm-66	72	53	;	;	PUNCT
arjefm-66	72	54	and	and	CCONJ
arjefm-66	72	55	(	(	PUNCT
arjefm-66	72	56	iii	iii	X
arjefm-66	72	57	)	)	PUNCT
arjefm-66	72	58	customers	customer	NOUN
arjefm-66	72	59	must	must	AUX
arjefm-66	72	60	have	have	VERB
arjefm-66	72	61	different	different	ADJ
arjefm-66	72	62	price	price	NOUN
arjefm-66	72	63	elasticities	elasticity	NOUN
arjefm-66	72	64	of	of	ADP
arjefm-66	72	65	demand	demand	NOUN
arjefm-66	72	66	.	.	PUNCT
arjefm-66	73	1	the	the	DET
arjefm-66	73	2	imperfect	imperfect	ADJ
arjefm-66	73	3	arbitrage	arbitrage	NOUN
arjefm-66	73	4	opportunities	opportunity	NOUN
arjefm-66	73	5	result	result	VERB
arjefm-66	73	6	from	from	ADP
arjefm-66	73	7	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-66	73	8	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-66	73	9	american	american	PROPN
arjefm-66	73	10	research	research	PROPN
arjefm-66	73	11	journal	journal	PROPN
arjefm-66	73	12	of	of	ADP
arjefm-66	73	13	economics	economic	NOUN
arjefm-66	73	14	,	,	PUNCT
arjefm-66	73	15	finance	finance	NOUN
arjefm-66	73	16	and	and	CCONJ
arjefm-66	73	17	management	management	NOUN
arjefm-66	73	18	volume	volume	NOUN
arjefm-66	73	19	10	10	NUM
arjefm-66	73	20	issue	issue	NOUN
arjefm-66	73	21	2	2	NUM
arjefm-66	73	22	,	,	PUNCT
arjefm-66	73	23	april	april	PROPN
arjefm-66	73	24	-	-	PUNCT
arjefm-66	73	25	june	june	PROPN
arjefm-66	73	26	2022	2022	PROPN
arjefm-66	73	27	issn	issn	PROPN
arjefm-66	73	28	:	:	PUNCT
arjefm-66	73	29	2836	2836	NUM
arjefm-66	73	30	-	-	SYM
arjefm-66	73	31	9416	9416	NUM
arjefm-66	73	32	impact	impact	NOUN
arjefm-66	73	33	factor	factor	NOUN
arjefm-66	73	34	:	:	PUNCT
arjefm-66	73	35	4.85	4.85	NUM
arjefm-66	73	36	journal	journal	NOUN
arjefm-66	73	37	homepage	homepage	NOUN
arjefm-66	73	38	:	:	PUNCT
arjefm-66	73	39	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-66	73	40	,	,	PUNCT
arjefm-66	73	41	email	email	NOUN
arjefm-66	73	42	:	:	PUNCT
arjefm-66	73	43	contact@americaserial.com	contact@americaserial.com	PROPN
arjefm-66	73	44	official	official	ADJ
arjefm-66	73	45	journal	journal	PROPN
arjefm-66	73	46	of	of	ADP
arjefm-66	73	47	america	america	PROPN
arjefm-66	73	48	serial	serial	PROPN
arjefm-66	73	49	publication	publication	NOUN
arjefm-66	73	50	american	american	PROPN
arjefm-66	73	51	research	research	PROPN
arjefm-66	73	52	journal	journal	PROPN
arjefm-66	73	53	of	of	ADP
arjefm-66	73	54	economics	economic	NOUN
arjefm-66	73	55	,	,	PUNCT
arjefm-66	73	56	finance	finance	NOUN
arjefm-66	73	57	and	and	CCONJ
arjefm-66	73	58	management	management	NOUN
arjefm-66	73	59	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-66	73	60	,	,	PUNCT
arjefm-66	73	61	email	email	NOUN
arjefm-66	73	62	:	:	PUNCT
arjefm-66	74	1	contact@americaserial.com	contact@americaserial.com	X
arjefm-66	74	2	46	46	NUM
arjefm-66	75	1	|	|	ADV
arjefm-66	75	2	p	p	X
arjefm-66	75	3	a	a	DET
arjefm-66	75	4	g	g	NOUN
arjefm-66	75	5	e	e	X
arjefm-66	75	6	imperfect	imperfect	ADJ
arjefm-66	75	7	financial	financial	ADJ
arjefm-66	75	8	markets	market	NOUN
arjefm-66	75	9	(	(	PUNCT
arjefm-66	75	10	emery	emery	NOUN
arjefm-66	75	11	,	,	PUNCT
arjefm-66	75	12	1984	1984	NUM
arjefm-66	75	13	)	)	PUNCT
arjefm-66	75	14	.	.	PUNCT
arjefm-66	76	1	behavioral	behavioral	ADJ
arjefm-66	76	2	specifications	specification	NOUN
arjefm-66	76	3	of	of	ADP
arjefm-66	76	4	p	p	NOUN
arjefm-66	76	5	,	,	PUNCT
arjefm-66	76	6	λ	λ	PROPN
arjefm-66	76	7	and	and	CCONJ
arjefm-66	76	8	q	q	PROPN
arjefm-66	76	9	are	be	AUX
arjefm-66	76	10	given	give	VERB
arjefm-66	76	11	in	in	ADP
arjefm-66	76	12	appendix	appendix	NOUN
arjefm-66	76	13	1	1	NUM
arjefm-66	76	14	.	.	PUNCT
arjefm-66	77	1	the	the	DET
arjefm-66	77	2	theoretical	theoretical	ADJ
arjefm-66	77	3	derivation	derivation	NOUN
arjefm-66	77	4	of	of	ADP
arjefm-66	77	5	the	the	DET
arjefm-66	77	6	simultaneous	simultaneous	ADJ
arjefm-66	77	7	equations	equation	NOUN
arjefm-66	77	8	determining	determine	VERB
arjefm-66	77	9	the	the	DET
arjefm-66	77	10	optimal	optimal	ADJ
arjefm-66	77	11	cash	cash	NOUN
arjefm-66	77	12	discount	discount	NOUN
arjefm-66	77	13	rate	rate	NOUN
arjefm-66	77	14	and	and	CCONJ
arjefm-66	77	15	product	product	NOUN
arjefm-66	77	16	price	price	NOUN
arjefm-66	77	17	is	be	AUX
arjefm-66	77	18	shown	show	VERB
arjefm-66	77	19	in	in	ADP
arjefm-66	77	20	appendix	appendix	NOUN
arjefm-66	77	21	2	2	NUM
arjefm-66	77	22	.	.	PUNCT
arjefm-66	78	1	the	the	DET
arjefm-66	78	2	simultaneous	simultaneous	ADJ
arjefm-66	78	3	equations	equation	NOUN
arjefm-66	78	4	are	be	AUX
arjefm-66	78	5	:	:	PUNCT
arjefm-66	78	6	z	z	PROPN
arjefm-66	79	1	d	d	X
arjefm-66	79	2	p	p	X
arjefm-66	79	3	p	p	X
arjefm-66	79	4	d	d	X
arjefm-66	79	5	p	p	NOUN
arjefm-66	79	6	0	0	NUM
arjefm-66	79	7	(	(	PUNCT
arjefm-66	79	8	4	4	NUM
arjefm-66	79	9	)	)	PUNCT
arjefm-66	79	10	(	(	PUNCT
arjefm-66	79	11	1	1	NUM
arjefm-66	79	12	d	d	NOUN
arjefm-66	79	13	)	)	PUNCT
arjefm-66	79	14	p	p	NOUN
arjefm-66	80	1	d	d	X
arjefm-66	80	2	d	d	X
arjefm-66	80	3	d	d	X
arjefm-66	80	4	(	(	PUNCT
arjefm-66	80	5	1	1	NUM
arjefm-66	80	6	d	d	NOUN
arjefm-66	80	7	)	)	PUNCT
arjefm-66	81	1	d	d	PROPN
arjefm-66	81	2	d	d	NOUN
arjefm-66	81	3	z	z	NOUN
arjefm-66	81	4	p	p	X
arjefm-66	81	5	p	p	X
arjefm-66	81	6	(	(	PUNCT
arjefm-66	81	7	1	1	NUM
arjefm-66	81	8	d	d	NOUN
arjefm-66	81	9	)	)	PUNCT
arjefm-66	81	10	(	(	PUNCT
arjefm-66	81	11	1	1	X
arjefm-66	81	12	)	)	PUNCT
arjefm-66	81	13	(	(	PUNCT
arjefm-66	81	14	1	1	NUM
arjefm-66	81	15	p	p	NOUN
arjefm-66	81	16	p	p	NOUN
arjefm-66	81	17	)	)	PUNCT
arjefm-66	81	18	(	(	PUNCT
arjefm-66	81	19	1	1	X
arjefm-66	81	20	)	)	PUNCT
arjefm-66	81	21	p	p	NOUN
arjefm-66	81	22	0	0	NUM
arjefm-66	81	23	p	p	X
arjefm-66	81	24	p	p	X
arjefm-66	81	25	(	(	PUNCT
arjefm-66	81	26	5	5	NUM
arjefm-66	81	27	)	)	PUNCT
arjefm-66	81	28	where	where	SCONJ
arjefm-66	81	29	z	z	NOUN
arjefm-66	81	30	=	=	SYM
arjefm-66	81	31	v	v	NOUN
arjefm-66	81	32	(	(	PUNCT
arjefm-66	81	33	1+k)n2/360	1+k)n2/360	NUM
arjefm-66	81	34	,	,	PUNCT
arjefm-66	81	35	θ	θ	X
arjefm-66	81	36	=	=	SYM
arjefm-66	81	37	(	(	PUNCT
arjefm-66	81	38	1+k)(n2	1+k)(n2	PROPN
arjefm-66	81	39	-	-	PUNCT
arjefm-66	81	40	n1)/360	n1)/360	PROPN
arjefm-66	81	41	and	and	CCONJ
arjefm-66	81	42	σ	σ	PROPN
arjefm-66	81	43	=	=	SYM
arjefm-66	81	44	v	v	PROPN
arjefm-66	81	45	(	(	PUNCT
arjefm-66	81	46	1+k)n2/360	1+k)n2/360	NUM
arjefm-66	81	47	.	.	PUNCT
arjefm-66	82	1	z	z	PROPN
arjefm-66	82	2	is	be	AUX
arjefm-66	82	3	then	then	ADV
arjefm-66	82	4	the	the	DET
arjefm-66	82	5	npv	npv	NOUN
arjefm-66	82	6	of	of	ADP
arjefm-66	82	7	accounts	account	NOUN
arjefm-66	82	8	receivable	receivable	ADJ
arjefm-66	82	9	at	at	ADP
arjefm-66	82	10	the	the	DET
arjefm-66	82	11	end	end	NOUN
arjefm-66	82	12	of	of	ADP
arjefm-66	82	13	the	the	DET
arjefm-66	82	14	credit	credit	NOUN
arjefm-66	82	15	period	period	NOUN
arjefm-66	82	16	n2	n2	NOUN
arjefm-66	82	17	.	.	PUNCT
arjefm-66	83	1	equations	equation	NOUN
arjefm-66	83	2	(	(	PUNCT
arjefm-66	83	3	4	4	NUM
arjefm-66	83	4	)	)	PUNCT
arjefm-66	83	5	and	and	CCONJ
arjefm-66	83	6	(	(	PUNCT
arjefm-66	83	7	5	5	X
arjefm-66	83	8	)	)	PUNCT
arjefm-66	83	9	constitute	constitute	VERB
arjefm-66	83	10	a	a	DET
arjefm-66	83	11	system	system	NOUN
arjefm-66	83	12	of	of	ADP
arjefm-66	83	13	simultaneous	simultaneous	ADJ
arjefm-66	83	14	equations	equation	NOUN
arjefm-66	83	15	in	in	ADP
arjefm-66	83	16	d	d	PROPN
arjefm-66	83	17	*	*	PROPN
arjefm-66	83	18	and	and	CCONJ
arjefm-66	83	19	p	p	X
arjefm-66	83	20	*	*	X
arjefm-66	83	21	where	where	SCONJ
arjefm-66	83	22	ηd	ηd	VERB
arjefm-66	83	23	and	and	CCONJ
arjefm-66	83	24	ηp	ηp	ADV
arjefm-66	83	25	play	play	VERB
arjefm-66	83	26	an	an	DET
arjefm-66	83	27	important	important	ADJ
arjefm-66	83	28	role	role	NOUN
arjefm-66	83	29	.	.	PUNCT
arjefm-66	84	1	in	in	ADP
arjefm-66	84	2	equation	equation	NOUN
arjefm-66	84	3	(	(	PUNCT
arjefm-66	84	4	4	4	NUM
arjefm-66	84	5	)	)	PUNCT
arjefm-66	84	6	,	,	PUNCT
arjefm-66	84	7	the	the	DET
arjefm-66	84	8	effect	effect	NOUN
arjefm-66	84	9	of	of	ADP
arjefm-66	84	10	ηd	ηd	NOUN
arjefm-66	84	11	is	be	AUX
arjefm-66	84	12	embodied	embody	VERB
arjefm-66	84	13	in	in	ADP
arjefm-66	84	14	the	the	DET
arjefm-66	84	15	last	last	ADJ
arjefm-66	84	16	two	two	NUM
arjefm-66	84	17	terms	term	NOUN
arjefm-66	84	18	as	as	SCONJ
arjefm-66	84	19	the	the	DET
arjefm-66	84	20	first	first	ADJ
arjefm-66	84	21	two	two	NUM
arjefm-66	84	22	terms	term	NOUN
arjefm-66	84	23	simply	simply	ADV
arjefm-66	84	24	represent	represent	VERB
arjefm-66	84	25	a	a	DET
arjefm-66	84	26	trade	trade	NOUN
arjefm-66	84	27	-	-	PUNCT
arjefm-66	84	28	off	off	NOUN
arjefm-66	84	29	between	between	ADP
arjefm-66	84	30	the	the	DET
arjefm-66	84	31	time	time	NOUN
arjefm-66	84	32	value	value	NOUN
arjefm-66	84	33	of	of	ADP
arjefm-66	84	34	money	money	NOUN
arjefm-66	84	35	of	of	ADP
arjefm-66	84	36	early	early	ADJ
arjefm-66	84	37	receipt	receipt	NOUN
arjefm-66	84	38	of	of	ADP
arjefm-66	84	39	payment	payment	NOUN
arjefm-66	84	40	and	and	CCONJ
arjefm-66	84	41	the	the	DET
arjefm-66	84	42	cash	cash	NOUN
arjefm-66	84	43	discount	discount	NOUN
arjefm-66	84	44	expense	expense	NOUN
arjefm-66	84	45	.	.	PUNCT
arjefm-66	85	1	in	in	ADP
arjefm-66	85	2	equation	equation	NOUN
arjefm-66	85	3	(	(	PUNCT
arjefm-66	85	4	5	5	NUM
arjefm-66	85	5	)	)	PUNCT
arjefm-66	85	6	,	,	PUNCT
arjefm-66	85	7	if	if	SCONJ
arjefm-66	85	8	ηp=-1	ηp=-1	PROPN
arjefm-66	85	9	,	,	PUNCT
arjefm-66	85	10	the	the	DET
arjefm-66	85	11	first	first	ADJ
arjefm-66	85	12	order	order	NOUN
arjefm-66	85	13	condition	condition	NOUN
arjefm-66	85	14	can	can	AUX
arjefm-66	85	15	not	not	PART
arjefm-66	85	16	be	be	AUX
arjefm-66	85	17	satisfied	satisfied	ADJ
arjefm-66	85	18	because	because	SCONJ
arjefm-66	85	19	the	the	DET
arjefm-66	85	20	first	first	ADJ
arjefm-66	85	21	two	two	NUM
arjefm-66	85	22	terms	term	NOUN
arjefm-66	85	23	become	become	VERB
arjefm-66	85	24	zero	zero	NUM
arjefm-66	85	25	while	while	SCONJ
arjefm-66	85	26	the	the	DET
arjefm-66	85	27	last	last	ADJ
arjefm-66	85	28	term	term	NOUN
arjefm-66	85	29	is	be	AUX
arjefm-66	85	30	positive	positive	ADJ
arjefm-66	85	31	.	.	PUNCT
arjefm-66	86	1	for	for	ADP
arjefm-66	86	2	0<|ηp|<1	0<|ηp|<1	NOUN
arjefm-66	86	3	,	,	PUNCT
arjefm-66	86	4	all	all	DET
arjefm-66	86	5	three	three	NUM
arjefm-66	86	6	terms	term	NOUN
arjefm-66	86	7	in	in	ADP
arjefm-66	86	8	equation	equation	NOUN
arjefm-66	86	9	(	(	PUNCT
arjefm-66	86	10	5	5	NUM
arjefm-66	86	11	)	)	PUNCT
arjefm-66	86	12	are	be	AUX
arjefm-66	86	13	positive	positive	ADJ
arjefm-66	86	14	,	,	PUNCT
arjefm-66	86	15	again	again	ADV
arjefm-66	86	16	making	make	VERB
arjefm-66	86	17	it	it	PRON
arjefm-66	86	18	impossible	impossible	ADJ
arjefm-66	86	19	for	for	SCONJ
arjefm-66	86	20	this	this	DET
arjefm-66	86	21	condition	condition	NOUN
arjefm-66	86	22	to	to	PART
arjefm-66	86	23	hold	hold	VERB
arjefm-66	86	24	.	.	PUNCT
arjefm-66	87	1	4	4	X
arjefm-66	87	2	.	.	X
arjefm-66	87	3	numerical	numerical	ADJ
arjefm-66	87	4	results	result	NOUN
arjefm-66	87	5	for	for	ADP
arjefm-66	87	6	the	the	DET
arjefm-66	87	7	solution	solution	NOUN
arjefm-66	87	8	of	of	ADP
arjefm-66	87	9	the	the	DET
arjefm-66	87	10	simultaneous	simultaneous	ADJ
arjefm-66	87	11	system	system	NOUN
arjefm-66	87	12	in	in	ADP
arjefm-66	87	13	equations	equation	NOUN
arjefm-66	87	14	(	(	PUNCT
arjefm-66	87	15	4	4	NUM
arjefm-66	87	16	)	)	PUNCT
arjefm-66	87	17	and	and	CCONJ
arjefm-66	87	18	(	(	PUNCT
arjefm-66	87	19	5	5	NUM
arjefm-66	87	20	)	)	PUNCT
arjefm-66	87	21	,	,	PUNCT
arjefm-66	87	22	a	a	DET
arjefm-66	87	23	specific	specific	ADJ
arjefm-66	87	24	relationship	relationship	NOUN
arjefm-66	87	25	between	between	ADP
arjefm-66	87	26	p	p	PROPN
arjefm-66	87	27	and	and	CCONJ
arjefm-66	87	28	d	d	PROPN
arjefm-66	87	29	has	have	VERB
arjefm-66	87	30	to	to	PART
arjefm-66	87	31	be	be	AUX
arjefm-66	87	32	assumed	assume	VERB
arjefm-66	87	33	.	.	PUNCT
arjefm-66	88	1	following	follow	VERB
arjefm-66	88	2	rashid	rashid	PROPN
arjefm-66	88	3	and	and	CCONJ
arjefm-66	88	4	mitra	mitra	PROPN
arjefm-66	88	5	(	(	PUNCT
arjefm-66	88	6	1999	1999	NUM
arjefm-66	88	7	)	)	PUNCT
arjefm-66	88	8	,	,	PUNCT
arjefm-66	88	9	we	we	PRON
arjefm-66	88	10	assume	assume	VERB
arjefm-66	88	11	p	p	X
arjefm-66	88	12	=	=	PROPN
arjefm-66	88	13	bd	bd	PROPN
arjefm-66	88	14	where	where	SCONJ
arjefm-66	88	15	b	b	NOUN
arjefm-66	88	16	is	be	AUX
arjefm-66	88	17	a	a	DET
arjefm-66	88	18	positive	positive	ADJ
arjefm-66	88	19	constant	constant	NOUN
arjefm-66	88	20	.	.	PUNCT
arjefm-66	89	1	instead	instead	ADV
arjefm-66	89	2	of	of	ADP
arjefm-66	89	3	recursive	recursive	ADJ
arjefm-66	89	4	substitution	substitution	NOUN
arjefm-66	89	5	used	use	VERB
arjefm-66	89	6	by	by	ADP
arjefm-66	89	7	rashid	rashid	PROPN
arjefm-66	89	8	and	and	CCONJ
arjefm-66	89	9	mitra	mitra	PROPN
arjefm-66	89	10	(	(	PUNCT
arjefm-66	89	11	1999	1999	NUM
arjefm-66	89	12	)	)	PUNCT
arjefm-66	89	13	and	and	CCONJ
arjefm-66	89	14	lim	lim	PROPN
arjefm-66	89	15	and	and	CCONJ
arjefm-66	89	16	rashid	rashid	PROPN
arjefm-66	89	17	(	(	PUNCT
arjefm-66	89	18	2002	2002	NUM
arjefm-66	89	19	,	,	PUNCT
arjefm-66	89	20	2008	2008	NUM
arjefm-66	89	21	)	)	PUNCT
arjefm-66	89	22	,	,	PUNCT
arjefm-66	89	23	we	we	PRON
arjefm-66	89	24	solve	solve	VERB
arjefm-66	89	25	equations	equation	NOUN
arjefm-66	89	26	(	(	PUNCT
arjefm-66	89	27	4	4	NUM
arjefm-66	89	28	)	)	PUNCT
arjefm-66	89	29	and	and	CCONJ
arjefm-66	89	30	(	(	PUNCT
arjefm-66	89	31	5	5	X
arjefm-66	89	32	)	)	PUNCT
arjefm-66	89	33	using	use	VERB
arjefm-66	89	34	the	the	DET
arjefm-66	89	35	“	"	PUNCT
arjefm-66	89	36	solver	solver	ADJ
arjefm-66	89	37	”	"	PUNCT
arjefm-66	89	38	tool	tool	NOUN
arjefm-66	89	39	in	in	ADP
arjefm-66	89	40	ms	ms	PROPN
arjefm-66	89	41	excel	excel	NOUN
arjefm-66	89	42	.	.	PUNCT
arjefm-66	90	1	using	use	VERB
arjefm-66	90	2	empirical	empirical	ADJ
arjefm-66	90	3	estimates	estimate	NOUN
arjefm-66	90	4	from	from	ADP
arjefm-66	90	5	the	the	DET
arjefm-66	90	6	1993	1993	NUM
arjefm-66	90	7	,	,	PUNCT
arjefm-66	90	8	1998	1998	NUM
arjefm-66	90	9	and	and	CCONJ
arjefm-66	90	10	2003	2003	NUM
arjefm-66	90	11	national	national	ADJ
arjefm-66	90	12	survey	survey	NOUN
arjefm-66	90	13	of	of	ADP
arjefm-66	90	14	small	small	ADJ
arjefm-66	90	15	business	business	NOUN
arjefm-66	90	16	finances	finance	NOUN
arjefm-66	90	17	as	as	SCONJ
arjefm-66	90	18	reported	report	VERB
arjefm-66	90	19	in	in	ADP
arjefm-66	90	20	lim	lim	PROPN
arjefm-66	90	21	,	,	PUNCT
arjefm-66	90	22	rashid	rashid	PROPN
arjefm-66	90	23	and	and	CCONJ
arjefm-66	90	24	mitra	mitra	PROPN
arjefm-66	90	25	(	(	PUNCT
arjefm-66	90	26	2006	2006	NUM
arjefm-66	90	27	)	)	PUNCT
arjefm-66	90	28	and	and	CCONJ
arjefm-66	90	29	bad	bad	ADJ
arjefm-66	90	30	debt	debt	NOUN
arjefm-66	90	31	estimates	estimate	NOUN
arjefm-66	90	32	found	find	VERB
arjefm-66	90	33	in	in	ADP
arjefm-66	90	34	scherr	scherr	PROPN
arjefm-66	90	35	(	(	PUNCT
arjefm-66	90	36	1989	1989	NUM
arjefm-66	90	37	)	)	PUNCT
arjefm-66	90	38	,	,	PUNCT
arjefm-66	90	39	the	the	DET
arjefm-66	90	40	model	model	NOUN
arjefm-66	90	41	is	be	AUX
arjefm-66	90	42	calibrated	calibrate	VERB
arjefm-66	90	43	as	as	SCONJ
arjefm-66	90	44	follows	follow	VERB
arjefm-66	90	45	:	:	PUNCT
arjefm-66	91	1	λ	λ	NOUN
arjefm-66	91	2	=	=	NOUN
arjefm-66	91	3	0.99	0.99	NUM
arjefm-66	91	4	;	;	PUNCT
arjefm-66	92	1	k	k	X
arjefm-66	92	2	=	=	SYM
arjefm-66	92	3	10	10	NUM
arjefm-66	92	4	%	%	NOUN
arjefm-66	92	5	per	per	ADP
arjefm-66	92	6	annum	annum	NOUN
arjefm-66	92	7	;	;	PUNCT
arjefm-66	92	8	v	v	NOUN
arjefm-66	92	9	=	=	SYM
arjefm-66	92	10	$	$	SYM
arjefm-66	92	11	0.8	0.8	NUM
arjefm-66	92	12	per	per	ADP
arjefm-66	92	13	unit	unit	NOUN
arjefm-66	92	14	of	of	ADP
arjefm-66	92	15	output	output	NOUN
arjefm-66	92	16	;	;	PUNCT
arjefm-66	92	17	n1	n1	PROPN
arjefm-66	92	18	=	=	SYM
arjefm-66	92	19	10	10	NUM
arjefm-66	92	20	days	day	NOUN
arjefm-66	92	21	;	;	PUNCT
arjefm-66	92	22	n2	n2	NOUN
arjefm-66	92	23	=	=	SYM
arjefm-66	92	24	30	30	NUM
arjefm-66	92	25	days	day	NOUN
arjefm-66	92	26	;	;	PUNCT
arjefm-66	92	27	b	b	X
arjefm-66	92	28	=	=	SYM
arjefm-66	92	29	10	10	NUM
arjefm-66	92	30	.	.	PUNCT
arjefm-66	93	1	for	for	ADP
arjefm-66	93	2	a	a	DET
arjefm-66	93	3	selected	select	VERB
arjefm-66	93	4	pairs	pair	NOUN
arjefm-66	93	5	of	of	ADP
arjefm-66	93	6	values	value	NOUN
arjefm-66	93	7	of	of	ADP
arjefm-66	93	8	ηd	ηd	NOUN
arjefm-66	93	9	and	and	CCONJ
arjefm-66	93	10	ηp	ηp	ADJ
arjefm-66	93	11	,	,	PUNCT
arjefm-66	93	12	table	table	NOUN
arjefm-66	93	13	1	1	NUM
arjefm-66	93	14	presents	present	VERB
arjefm-66	93	15	optimal	optimal	ADJ
arjefm-66	93	16	cash	cash	NOUN
arjefm-66	93	17	discount	discount	NOUN
arjefm-66	93	18	rates	rate	NOUN
arjefm-66	93	19	and	and	CCONJ
arjefm-66	93	20	optimal	optimal	ADJ
arjefm-66	93	21	product	product	NOUN
arjefm-66	93	22	prices	price	NOUN
arjefm-66	93	23	.	.	PUNCT
arjefm-66	94	1	table	table	NOUN
arjefm-66	94	2	1	1	NUM
arjefm-66	94	3	optimal	optimal	ADJ
arjefm-66	94	4	cash	cash	NOUN
arjefm-66	94	5	discount	discount	NOUN
arjefm-66	94	6	rates	rate	NOUN
arjefm-66	94	7	and	and	CCONJ
arjefm-66	94	8	optimal	optimal	ADJ
arjefm-66	94	9	product	product	NOUN
arjefm-66	94	10	price	price	NOUN
arjefm-66	94	11	at	at	ADP
arjefm-66	94	12	various	various	ADJ
arjefm-66	94	13	demand	demand	NOUN
arjefm-66	94	14	elasticities	elasticity	NOUN
arjefm-66	94	15	mailto:contact@americaserial.com	mailto:contact@americaserial.com	X
arjefm-66	94	16	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-66	95	1	american	american	PROPN
arjefm-66	95	2	research	research	PROPN
arjefm-66	95	3	journal	journal	PROPN
arjefm-66	95	4	of	of	ADP
arjefm-66	95	5	economics	economic	NOUN
arjefm-66	95	6	,	,	PUNCT
arjefm-66	95	7	finance	finance	NOUN
arjefm-66	95	8	and	and	CCONJ
arjefm-66	95	9	management	management	NOUN
arjefm-66	95	10	volume	volume	NOUN
arjefm-66	95	11	10	10	NUM
arjefm-66	95	12	issue	issue	NOUN
arjefm-66	95	13	2	2	NUM
arjefm-66	95	14	,	,	PUNCT
arjefm-66	95	15	april	april	PROPN
arjefm-66	95	16	-	-	PUNCT
arjefm-66	95	17	june	june	PROPN
arjefm-66	95	18	2022	2022	PROPN
arjefm-66	95	19	issn	issn	PROPN
arjefm-66	95	20	:	:	PUNCT
arjefm-66	95	21	2836	2836	NUM
arjefm-66	95	22	-	-	SYM
arjefm-66	95	23	9416	9416	NUM
arjefm-66	95	24	impact	impact	NOUN
arjefm-66	95	25	factor	factor	NOUN
arjefm-66	95	26	:	:	PUNCT
arjefm-66	95	27	4.85	4.85	NUM
arjefm-66	95	28	journal	journal	NOUN
arjefm-66	95	29	homepage	homepage	NOUN
arjefm-66	95	30	:	:	PUNCT
arjefm-66	95	31	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-66	95	32	,	,	PUNCT
arjefm-66	95	33	email	email	NOUN
arjefm-66	95	34	:	:	PUNCT
arjefm-66	95	35	contact@americaserial.com	contact@americaserial.com	PROPN
arjefm-66	95	36	official	official	ADJ
arjefm-66	95	37	journal	journal	PROPN
arjefm-66	95	38	of	of	ADP
arjefm-66	95	39	america	america	PROPN
arjefm-66	95	40	serial	serial	PROPN
arjefm-66	95	41	publication	publication	NOUN
arjefm-66	95	42	american	american	PROPN
arjefm-66	95	43	research	research	PROPN
arjefm-66	95	44	journal	journal	PROPN
arjefm-66	95	45	of	of	ADP
arjefm-66	95	46	economics	economic	NOUN
arjefm-66	95	47	,	,	PUNCT
arjefm-66	95	48	finance	finance	NOUN
arjefm-66	95	49	and	and	CCONJ
arjefm-66	95	50	management	management	NOUN
arjefm-66	95	51	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-66	95	52	,	,	PUNCT
arjefm-66	95	53	email	email	NOUN
arjefm-66	95	54	:	:	PUNCT
arjefm-66	95	55	contact@americaserial.com	contact@americaserial.com	X
arjefm-66	96	1	47	47	NUM
arjefm-66	97	1	|	|	ADV
arjefm-66	97	2	p	p	X
arjefm-66	97	3	a	a	DET
arjefm-66	97	4	g	g	NOUN
arjefm-66	97	5	e	e	NOUN
arjefm-66	97	6	ηd	ηd	NOUN
arjefm-66	97	7	ηp	ηp	PROPN
arjefm-66	98	1	d	d	X
arjefm-66	98	2	*	*	PUNCT
arjefm-66	98	3	(	(	PUNCT
arjefm-66	98	4	top	top	NOUN
arjefm-66	98	5	of	of	ADP
arjefm-66	98	6	each	each	DET
arjefm-66	98	7	cell	cell	NOUN
arjefm-66	98	8	)	)	PUNCT
arjefm-66	98	9	,	,	PUNCT
arjefm-66	99	1	p	p	X
arjefm-66	99	2	*	*	X
arjefm-66	99	3	(	(	PUNCT
arjefm-66	99	4	bottom	bottom	NOUN
arjefm-66	99	5	of	of	ADP
arjefm-66	99	6	each	each	DET
arjefm-66	99	7	cell	cell	NOUN
arjefm-66	99	8	)	)	PUNCT
arjefm-66	99	9	-1.5	-1.5	PUNCT
arjefm-66	99	10	-2.0	-2.0	ADJ
arjefm-66	99	11	-2.5	-2.5	ADJ
arjefm-66	99	12	-3.0	-3.0	PUNCT
arjefm-66	99	13	0.005	0.005	NUM
arjefm-66	99	14	0.0172	0.0172	NUM
arjefm-66	99	15	$	$	SYM
arjefm-66	99	16	2.444	2.444	NUM
arjefm-66	99	17	0.0155	0.0155	NUM
arjefm-66	99	18	$	$	SYM
arjefm-66	99	19	1.629	1.629	NUM
arjefm-66	99	20	0.0144	0.0144	NUM
arjefm-66	99	21	$	$	SYM
arjefm-66	99	22	1.357	1.357	NUM
arjefm-66	99	23	0.0137	0.0137	NUM
arjefm-66	99	24	$	$	SYM
arjefm-66	99	25	1.222	1.222	NUM
arjefm-66	99	26	0.01	0.01	NUM
arjefm-66	99	27	0.0222	0.0222	NUM
arjefm-66	99	28	$	$	SYM
arjefm-66	99	29	2.447	2.447	NUM
arjefm-66	99	30	0.0199	0.0199	NUM
arjefm-66	99	31	$	$	SYM
arjefm-66	99	32	1.631	1.631	NUM
arjefm-66	99	33	0.0183	0.0183	NUM
arjefm-66	99	34	$	$	SYM
arjefm-66	99	35	1.358	1.358	NUM
arjefm-66	99	36	0.0171	0.0171	NUM
arjefm-66	99	37	$	$	SYM
arjefm-66	99	38	1.222	1.222	NUM
arjefm-66	99	39	0.015	0.015	NUM
arjefm-66	99	40	0.0262	0.0262	NUM
arjefm-66	99	41	$	$	SYM
arjefm-66	99	42	2.451	2.451	NUM
arjefm-66	99	43	0.0233	0.0233	NUM
arjefm-66	99	44	$	$	SYM
arjefm-66	99	45	1.632	1.632	NUM
arjefm-66	99	46	0.0213	0.0213	NUM
arjefm-66	99	47	$	$	SYM
arjefm-66	99	48	1.359	1.359	NUM
arjefm-66	99	49	0.0199	0.0199	NUM
arjefm-66	99	50	$	$	SYM
arjefm-66	99	51	1.223	1.223	NUM
arjefm-66	99	52	0.02	0.02	NUM
arjefm-66	99	53	0.0295	0.0295	NUM
arjefm-66	99	54	$	$	SYM
arjefm-66	99	55	2.454	2.454	NUM
arjefm-66	99	56	0.0261	0.0261	NUM
arjefm-66	99	57	$	$	SYM
arjefm-66	99	58	1.634	1.634	NUM
arjefm-66	99	59	0.0238	0.0238	NUM
arjefm-66	99	60	$	$	SYM
arjefm-66	99	61	1.360	1.360	NUM
arjefm-66	99	62	0.0222	0.0222	NUM
arjefm-66	99	63	$	$	SYM
arjefm-66	99	64	1.224	1.224	NUM
arjefm-66	99	65	as	as	SCONJ
arjefm-66	99	66	noted	note	VERB
arjefm-66	99	67	in	in	ADP
arjefm-66	99	68	lim	lim	PROPN
arjefm-66	99	69	and	and	CCONJ
arjefm-66	99	70	rashid	rashid	PROPN
arjefm-66	99	71	(	(	PUNCT
arjefm-66	99	72	2002	2002	NUM
arjefm-66	99	73	,	,	PUNCT
arjefm-66	99	74	2008	2008	NUM
arjefm-66	99	75	)	)	PUNCT
arjefm-66	99	76	,	,	PUNCT
arjefm-66	99	77	higher	high	ADJ
arjefm-66	99	78	(	(	PUNCT
arjefm-66	99	79	lower	low	ADJ
arjefm-66	99	80	)	)	PUNCT
arjefm-66	99	81	is	be	AUX
arjefm-66	99	82	the	the	DET
arjefm-66	99	83	product	product	NOUN
arjefm-66	99	84	price	price	NOUN
arjefm-66	99	85	elasticity	elasticity	NOUN
arjefm-66	99	86	of	of	ADP
arjefm-66	99	87	demand	demand	NOUN
arjefm-66	99	88	,	,	PUNCT
arjefm-66	99	89	lower	low	ADJ
arjefm-66	99	90	(	(	PUNCT
arjefm-66	99	91	higher	high	ADJ
arjefm-66	99	92	)	)	PUNCT
arjefm-66	99	93	is	be	AUX
arjefm-66	99	94	the	the	DET
arjefm-66	99	95	optimal	optimal	ADJ
arjefm-66	99	96	product	product	NOUN
arjefm-66	99	97	price	price	NOUN
arjefm-66	99	98	.	.	PUNCT
arjefm-66	100	1	also	also	ADV
arjefm-66	100	2	,	,	PUNCT
arjefm-66	100	3	higher	high	ADJ
arjefm-66	100	4	(	(	PUNCT
arjefm-66	100	5	lower	low	ADJ
arjefm-66	100	6	)	)	PUNCT
arjefm-66	100	7	is	be	AUX
arjefm-66	100	8	the	the	DET
arjefm-66	100	9	cash	cash	NOUN
arjefm-66	100	10	discount	discount	NOUN
arjefm-66	100	11	elasticity	elasticity	NOUN
arjefm-66	100	12	of	of	ADP
arjefm-66	100	13	demand	demand	NOUN
arjefm-66	100	14	,	,	PUNCT
arjefm-66	100	15	higher	high	ADJ
arjefm-66	100	16	(	(	PUNCT
arjefm-66	100	17	lower	low	ADJ
arjefm-66	100	18	)	)	PUNCT
arjefm-66	100	19	is	be	AUX
arjefm-66	100	20	d	d	NOUN
arjefm-66	100	21	*	*	NOUN
arjefm-66	100	22	.	.	PUNCT
arjefm-66	101	1	as	as	SCONJ
arjefm-66	101	2	customers	customer	NOUN
arjefm-66	101	3	with	with	ADP
arjefm-66	101	4	higher	high	ADJ
arjefm-66	101	5	cash	cash	NOUN
arjefm-66	101	6	discount	discount	NOUN
arjefm-66	101	7	elasticities	elasticity	NOUN
arjefm-66	101	8	have	have	VERB
arjefm-66	101	9	higher	high	ADJ
arjefm-66	101	10	borrowing	borrowing	NOUN
arjefm-66	101	11	costs	cost	NOUN
arjefm-66	101	12	,	,	PUNCT
arjefm-66	101	13	this	this	PRON
arjefm-66	101	14	explains	explain	VERB
arjefm-66	101	15	survey	survey	NOUN
arjefm-66	101	16	evidence	evidence	NOUN
arjefm-66	101	17	that	that	SCONJ
arjefm-66	101	18	customers	customer	NOUN
arjefm-66	101	19	with	with	ADP
arjefm-66	101	20	higher	high	ADJ
arjefm-66	101	21	borrowing	borrowing	NOUN
arjefm-66	101	22	costs	cost	NOUN
arjefm-66	101	23	are	be	AUX
arjefm-66	101	24	offered	offer	VERB
arjefm-66	101	25	higher	high	ADJ
arjefm-66	101	26	cash	cash	NOUN
arjefm-66	101	27	discounts	discount	NOUN
arjefm-66	101	28	.	.	PUNCT
arjefm-66	102	1	as	as	ADP
arjefm-66	102	2	ηd	ηd	NOUN
arjefm-66	102	3	rises	rise	NOUN
arjefm-66	102	4	,	,	PUNCT
arjefm-66	102	5	the	the	DET
arjefm-66	102	6	rate	rate	NOUN
arjefm-66	102	7	of	of	ADP
arjefm-66	102	8	increase	increase	NOUN
arjefm-66	102	9	in	in	ADP
arjefm-66	102	10	d	d	PROPN
arjefm-66	102	11	*	*	VERB
arjefm-66	102	12	slows	slow	VERB
arjefm-66	102	13	down	down	ADP
arjefm-66	102	14	.	.	PUNCT
arjefm-66	103	1	we	we	PRON
arjefm-66	103	2	also	also	ADV
arjefm-66	103	3	find	find	VERB
arjefm-66	103	4	what	what	PRON
arjefm-66	103	5	lim	lim	PROPN
arjefm-66	103	6	and	and	CCONJ
arjefm-66	103	7	rashid	rashid	PROPN
arjefm-66	103	8	(	(	PUNCT
arjefm-66	103	9	2002	2002	NUM
arjefm-66	103	10	,	,	PUNCT
arjefm-66	103	11	2008	2008	NUM
arjefm-66	103	12	)	)	PUNCT
arjefm-66	103	13	term	term	NOUN
arjefm-66	103	14	a	a	DET
arjefm-66	103	15	“	"	PUNCT
arjefm-66	103	16	simultaneity	simultaneity	NOUN
arjefm-66	103	17	effect	effect	NOUN
arjefm-66	103	18	”	"	PUNCT
arjefm-66	103	19	,	,	PUNCT
arjefm-66	103	20	that	that	ADV
arjefm-66	103	21	is	is	ADV
arjefm-66	103	22	,	,	PUNCT
arjefm-66	103	23	the	the	DET
arjefm-66	103	24	cash	cash	NOUN
arjefm-66	103	25	discount	discount	NOUN
arjefm-66	103	26	is	be	AUX
arjefm-66	103	27	directly	directly	ADV
arjefm-66	103	28	related	relate	VERB
arjefm-66	103	29	to	to	ADP
arjefm-66	103	30	the	the	DET
arjefm-66	103	31	contribution	contribution	NOUN
arjefm-66	103	32	margin	margin	NOUN
arjefm-66	103	33	,	,	PUNCT
arjefm-66	103	34	and	and	CCONJ
arjefm-66	103	35	results	result	NOUN
arjefm-66	103	36	from	from	ADP
arjefm-66	103	37	the	the	DET
arjefm-66	103	38	assumption	assumption	NOUN
arjefm-66	103	39	of	of	ADP
arjefm-66	103	40	interdependent	interdependent	ADJ
arjefm-66	103	41	demands	demand	NOUN
arjefm-66	103	42	.	.	PUNCT
arjefm-66	104	1	the	the	DET
arjefm-66	104	2	effect	effect	NOUN
arjefm-66	104	3	of	of	ADP
arjefm-66	104	4	the	the	DET
arjefm-66	104	5	cash	cash	NOUN
arjefm-66	104	6	discount	discount	NOUN
arjefm-66	104	7	elasticity	elasticity	NOUN
arjefm-66	104	8	ηd	ηd	NOUN
arjefm-66	104	9	on	on	ADP
arjefm-66	104	10	the	the	DET
arjefm-66	104	11	optimal	optimal	ADJ
arjefm-66	104	12	cash	cash	NOUN
arjefm-66	104	13	discount	discount	NOUN
arjefm-66	104	14	d	d	X
arjefm-66	104	15	*	*	PUNCT
arjefm-66	104	16	is	be	AUX
arjefm-66	104	17	much	much	ADV
arjefm-66	104	18	larger	large	ADJ
arjefm-66	104	19	than	than	ADP
arjefm-66	104	20	the	the	DET
arjefm-66	104	21	effect	effect	NOUN
arjefm-66	104	22	of	of	ADP
arjefm-66	104	23	the	the	DET
arjefm-66	104	24	product	product	NOUN
arjefm-66	104	25	price	price	NOUN
arjefm-66	104	26	elasticity	elasticity	NOUN
arjefm-66	105	1	ηp	ηp	ADV
arjefm-66	105	2	on	on	ADP
arjefm-66	105	3	d	d	PROPN
arjefm-66	105	4	*	*	PUNCT
arjefm-66	105	5	.	.	PUNCT
arjefm-66	106	1	this	this	PRON
arjefm-66	106	2	confirms	confirm	VERB
arjefm-66	106	3	lim	lim	PROPN
arjefm-66	106	4	and	and	CCONJ
arjefm-66	106	5	rashid	rashid	PROPN
arjefm-66	106	6	’s	’s	PART
arjefm-66	106	7	(	(	PUNCT
arjefm-66	106	8	2002	2002	NUM
arjefm-66	106	9	,	,	PUNCT
arjefm-66	106	10	2008	2008	NUM
arjefm-66	106	11	)	)	PUNCT
arjefm-66	106	12	main	main	ADJ
arjefm-66	106	13	theoretical	theoretical	ADJ
arjefm-66	106	14	finding	finding	NOUN
arjefm-66	106	15	for	for	ADP
arjefm-66	106	16	a	a	DET
arjefm-66	106	17	60	60	NUM
arjefm-66	106	18	-	-	PUNCT
arjefm-66	106	19	day	day	NOUN
arjefm-66	106	20	credit	credit	NOUN
arjefm-66	106	21	period	period	NOUN
arjefm-66	106	22	and	and	CCONJ
arjefm-66	106	23	is	be	AUX
arjefm-66	106	24	consistent	consistent	ADJ
arjefm-66	106	25	with	with	ADP
arjefm-66	106	26	lim	lim	PROPN
arjefm-66	106	27	,	,	PUNCT
arjefm-66	106	28	rashid	rashid	PROPN
arjefm-66	106	29	and	and	CCONJ
arjefm-66	106	30	mitra	mitra	PROPN
arjefm-66	106	31	’s	’s	PART
arjefm-66	106	32	(	(	PUNCT
arjefm-66	106	33	2006	2006	NUM
arjefm-66	106	34	)	)	PUNCT
arjefm-66	106	35	empirical	empirical	ADJ
arjefm-66	106	36	evidence	evidence	NOUN
arjefm-66	106	37	as	as	SCONJ
arjefm-66	106	38	described	describe	VERB
arjefm-66	106	39	in	in	ADP
arjefm-66	106	40	section	section	NOUN
arjefm-66	106	41	1	1	NUM
arjefm-66	106	42	.	.	PUNCT
arjefm-66	107	1	for	for	ADP
arjefm-66	107	2	most	most	ADJ
arjefm-66	107	3	grids	grid	NOUN
arjefm-66	107	4	of	of	ADP
arjefm-66	107	5	ηd	ηd	NOUN
arjefm-66	107	6	and	and	CCONJ
arjefm-66	107	7	ηp	ηp	PROPN
arjefm-66	107	8	,	,	PUNCT
arjefm-66	107	9	the	the	DET
arjefm-66	107	10	numerical	numerical	ADJ
arjefm-66	107	11	values	value	NOUN
arjefm-66	107	12	of	of	ADP
arjefm-66	107	13	d	d	X
arjefm-66	107	14	*	*	NOUN
arjefm-66	107	15	are	be	AUX
arjefm-66	107	16	around	around	ADV
arjefm-66	107	17	2	2	NUM
arjefm-66	107	18	%	%	NOUN
arjefm-66	107	19	.	.	PUNCT
arjefm-66	108	1	lim	lim	PROPN
arjefm-66	108	2	,	,	PUNCT
arjefm-66	108	3	rashid	rashid	PROPN
arjefm-66	108	4	and	and	CCONJ
arjefm-66	108	5	mitra	mitra	PROPN
arjefm-66	108	6	(	(	PUNCT
arjefm-66	108	7	2006	2006	NUM
arjefm-66	108	8	)	)	PUNCT
arjefm-66	108	9	examine	examine	NOUN
arjefm-66	108	10	buyer	buyer	NOUN
arjefm-66	108	11	firms	firm	NOUN
arjefm-66	108	12	from	from	ADP
arjefm-66	108	13	the	the	DET
arjefm-66	108	14	1993	1993	NUM
arjefm-66	108	15	,	,	PUNCT
arjefm-66	108	16	1998	1998	NUM
arjefm-66	108	17	and	and	CCONJ
arjefm-66	108	18	2003	2003	NUM
arjefm-66	108	19	national	national	ADJ
arjefm-66	108	20	survey	survey	NOUN
arjefm-66	108	21	of	of	ADP
arjefm-66	108	22	small	small	ADJ
arjefm-66	108	23	business	business	NOUN
arjefm-66	108	24	finances	finance	NOUN
arjefm-66	108	25	and	and	CCONJ
arjefm-66	108	26	find	find	VERB
arjefm-66	108	27	that	that	SCONJ
arjefm-66	108	28	the	the	DET
arjefm-66	108	29	median	median	ADJ
arjefm-66	108	30	and	and	CCONJ
arjefm-66	108	31	mode	mode	PROPN
arjefm-66	108	32	discount	discount	NOUN
arjefm-66	108	33	rates	rate	NOUN
arjefm-66	108	34	are	be	AUX
arjefm-66	108	35	2	2	NUM
arjefm-66	108	36	%	%	NOUN
arjefm-66	108	37	.	.	PUNCT
arjefm-66	109	1	ng	ng	PROPN
arjefm-66	109	2	,	,	PUNCT
arjefm-66	109	3	smith	smith	PROPN
arjefm-66	109	4	and	and	CCONJ
arjefm-66	109	5	smith	smith	PROPN
arjefm-66	109	6	(	(	PUNCT
arjefm-66	109	7	1999	1999	NUM
arjefm-66	109	8	)	)	PUNCT
arjefm-66	109	9	examine	examine	NOUN
arjefm-66	109	10	supplier	supplier	NOUN
arjefm-66	109	11	firms	firm	NOUN
arjefm-66	109	12	and	and	CCONJ
arjefm-66	109	13	find	find	VERB
arjefm-66	109	14	the	the	DET
arjefm-66	109	15	same	same	ADJ
arjefm-66	109	16	2	2	NUM
arjefm-66	109	17	%	%	NOUN
arjefm-66	109	18	discount	discount	NOUN
arjefm-66	109	19	.	.	PUNCT
arjefm-66	110	1	maness	maness	NOUN
arjefm-66	110	2	and	and	CCONJ
arjefm-66	110	3	zietlow	zietlow	PROPN
arjefm-66	110	4	(	(	PUNCT
arjefm-66	110	5	2005	2005	NUM
arjefm-66	110	6	)	)	PUNCT
arjefm-66	110	7	present	present	VERB
arjefm-66	110	8	an	an	DET
arjefm-66	110	9	overview	overview	NOUN
arjefm-66	110	10	of	of	ADP
arjefm-66	110	11	cash	cash	NOUN
arjefm-66	110	12	discount	discount	NOUN
arjefm-66	110	13	practices	practice	NOUN
arjefm-66	110	14	consistent	consistent	ADJ
arjefm-66	110	15	with	with	ADP
arjefm-66	110	16	competitive	competitive	ADJ
arjefm-66	110	17	suppliers	supplier	NOUN
arjefm-66	110	18	offering	offer	VERB
arjefm-66	110	19	a	a	DET
arjefm-66	110	20	2	2	NUM
arjefm-66	110	21	%	%	NOUN
arjefm-66	110	22	discount	discount	NOUN
arjefm-66	110	23	.	.	PUNCT
arjefm-66	111	1	for	for	ADP
arjefm-66	111	2	the	the	DET
arjefm-66	111	3	three	three	NUM
arjefm-66	111	4	pairs	pair	NOUN
arjefm-66	111	5	of	of	ADP
arjefm-66	111	6	the	the	DET
arjefm-66	111	7	two	two	NUM
arjefm-66	111	8	elasticities	elasticity	NOUN
arjefm-66	111	9	,	,	PUNCT
arjefm-66	111	10	table	table	NOUN
arjefm-66	111	11	2	2	NUM
arjefm-66	111	12	illustrates	illustrate	VERB
arjefm-66	111	13	the	the	DET
arjefm-66	111	14	effect	effect	NOUN
arjefm-66	111	15	of	of	ADP
arjefm-66	111	16	k	k	PROPN
arjefm-66	111	17	on	on	ADP
arjefm-66	111	18	d	d	PROPN
arjefm-66	111	19	*	*	PUNCT
arjefm-66	111	20	and	and	CCONJ
arjefm-66	111	21	p	p	X
arjefm-66	111	22	*	*	PROPN
arjefm-66	111	23	.	.	PUNCT
arjefm-66	112	1	note	note	VERB
arjefm-66	112	2	that	that	SCONJ
arjefm-66	112	3	while	while	SCONJ
arjefm-66	112	4	k	k	PROPN
arjefm-66	112	5	increases	increase	VERB
arjefm-66	112	6	from	from	ADP
arjefm-66	112	7	0	0	NUM
arjefm-66	112	8	%	%	NOUN
arjefm-66	112	9	to	to	PART
arjefm-66	112	10	20	20	NUM
arjefm-66	112	11	%	%	NOUN
arjefm-66	112	12	,	,	PUNCT
arjefm-66	112	13	with	with	ADP
arjefm-66	112	14	(	(	PUNCT
arjefm-66	112	15	ηd	ηd	NOUN
arjefm-66	112	16	,	,	PUNCT
arjefm-66	112	17	ηp	ηp	PROPN
arjefm-66	112	18	)	)	PUNCT
arjefm-66	112	19	=	=	SYM
arjefm-66	112	20	(	(	PUNCT
arjefm-66	112	21	0.005,-1.5	0.005,-1.5	NOUN
arjefm-66	112	22	)	)	PUNCT
arjefm-66	112	23	,	,	PUNCT
arjefm-66	112	24	the	the	DET
arjefm-66	112	25	optimal	optimal	ADJ
arjefm-66	112	26	cash	cash	NOUN
arjefm-66	112	27	discount	discount	NOUN
arjefm-66	112	28	only	only	ADV
arjefm-66	112	29	increases	increase	VERB
arjefm-66	112	30	from	from	ADP
arjefm-66	112	31	1.55	1.55	NUM
arjefm-66	112	32	%	%	NOUN
arjefm-66	112	33	to	to	ADP
arjefm-66	112	34	only	only	ADV
arjefm-66	112	35	1.87	1.87	NUM
arjefm-66	112	36	%	%	NOUN
arjefm-66	112	37	while	while	SCONJ
arjefm-66	112	38	the	the	DET
arjefm-66	112	39	optimal	optimal	ADJ
arjefm-66	112	40	product	product	NOUN
arjefm-66	112	41	price	price	NOUN
arjefm-66	112	42	increases	increase	NOUN
arjefm-66	112	43	from	from	ADP
arjefm-66	112	44	$	$	SYM
arjefm-66	112	45	2.43	2.43	NUM
arjefm-66	112	46	to	to	ADP
arjefm-66	112	47	only	only	ADV
arjefm-66	112	48	$	$	SYM
arjefm-66	112	49	2.46	2.46	NUM
arjefm-66	112	50	.	.	PUNCT
arjefm-66	113	1	similar	similar	ADJ
arjefm-66	113	2	results	result	NOUN
arjefm-66	113	3	are	be	AUX
arjefm-66	113	4	observed	observe	VERB
arjefm-66	113	5	for	for	ADP
arjefm-66	113	6	other	other	ADJ
arjefm-66	113	7	pairs	pair	NOUN
arjefm-66	113	8	of	of	ADP
arjefm-66	113	9	elasticities	elasticity	NOUN
arjefm-66	113	10	.	.	PUNCT
arjefm-66	114	1	therefore	therefore	ADV
arjefm-66	114	2	,	,	PUNCT
arjefm-66	114	3	credit	credit	NOUN
arjefm-66	114	4	terms	term	NOUN
arjefm-66	114	5	and	and	CCONJ
arjefm-66	114	6	product	product	NOUN
arjefm-66	114	7	prices	price	NOUN
arjefm-66	114	8	are	be	AUX
arjefm-66	114	9	stable	stable	ADJ
arjefm-66	114	10	even	even	ADV
arjefm-66	114	11	with	with	ADP
arjefm-66	114	12	large	large	ADJ
arjefm-66	114	13	changes	change	NOUN
arjefm-66	114	14	in	in	ADP
arjefm-66	114	15	macroeconomic	macroeconomic	ADJ
arjefm-66	114	16	interest	interest	NOUN
arjefm-66	114	17	rates	rate	NOUN
arjefm-66	114	18	.	.	PUNCT
arjefm-66	115	1	mailto:contact@americaserial.com	mailto:contact@americaserial.com	X
arjefm-66	115	2	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-66	116	1	american	american	PROPN
arjefm-66	116	2	research	research	PROPN
arjefm-66	116	3	journal	journal	PROPN
arjefm-66	116	4	of	of	ADP
arjefm-66	116	5	economics	economic	NOUN
arjefm-66	116	6	,	,	PUNCT
arjefm-66	116	7	finance	finance	NOUN
arjefm-66	116	8	and	and	CCONJ
arjefm-66	116	9	management	management	NOUN
arjefm-66	116	10	volume	volume	NOUN
arjefm-66	116	11	10	10	NUM
arjefm-66	116	12	issue	issue	NOUN
arjefm-66	116	13	2	2	NUM
arjefm-66	116	14	,	,	PUNCT
arjefm-66	116	15	april	april	PROPN
arjefm-66	116	16	-	-	PUNCT
arjefm-66	116	17	june	june	PROPN
arjefm-66	116	18	2022	2022	PROPN
arjefm-66	116	19	issn	issn	PROPN
arjefm-66	116	20	:	:	PUNCT
arjefm-66	116	21	2836	2836	NUM
arjefm-66	116	22	-	-	SYM
arjefm-66	116	23	9416	9416	NUM
arjefm-66	116	24	impact	impact	NOUN
arjefm-66	116	25	factor	factor	NOUN
arjefm-66	116	26	:	:	PUNCT
arjefm-66	116	27	4.85	4.85	NUM
arjefm-66	116	28	journal	journal	NOUN
arjefm-66	116	29	homepage	homepage	NOUN
arjefm-66	116	30	:	:	PUNCT
arjefm-66	116	31	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-66	116	32	,	,	PUNCT
arjefm-66	116	33	email	email	NOUN
arjefm-66	116	34	:	:	PUNCT
arjefm-66	116	35	contact@americaserial.com	contact@americaserial.com	PROPN
arjefm-66	116	36	official	official	ADJ
arjefm-66	116	37	journal	journal	PROPN
arjefm-66	116	38	of	of	ADP
arjefm-66	116	39	america	america	PROPN
arjefm-66	116	40	serial	serial	PROPN
arjefm-66	116	41	publication	publication	NOUN
arjefm-66	116	42	american	american	PROPN
arjefm-66	116	43	research	research	PROPN
arjefm-66	116	44	journal	journal	PROPN
arjefm-66	116	45	of	of	ADP
arjefm-66	116	46	economics	economic	NOUN
arjefm-66	116	47	,	,	PUNCT
arjefm-66	116	48	finance	finance	NOUN
arjefm-66	116	49	and	and	CCONJ
arjefm-66	116	50	management	management	NOUN
arjefm-66	116	51	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-66	116	52	,	,	PUNCT
arjefm-66	116	53	email	email	NOUN
arjefm-66	116	54	:	:	PUNCT
arjefm-66	116	55	contact@americaserial.com	contact@americaserial.com	X
arjefm-66	117	1	48	48	NUM
arjefm-66	118	1	|	|	ADV
arjefm-66	118	2	p	p	NOUN
arjefm-66	118	3	a	a	DET
arjefm-66	118	4	g	g	NOUN
arjefm-66	118	5	e	e	NOUN
arjefm-66	118	6	table	table	NOUN
arjefm-66	118	7	2	2	NUM
arjefm-66	118	8	:	:	PUNCT
arjefm-66	118	9	effect	effect	NOUN
arjefm-66	118	10	of	of	ADP
arjefm-66	118	11	variations	variation	NOUN
arjefm-66	118	12	in	in	ADP
arjefm-66	118	13	k	k	PROPN
arjefm-66	118	14	on	on	ADP
arjefm-66	118	15	d	d	PROPN
arjefm-66	118	16	*	*	PUNCT
arjefm-66	118	17	and	and	CCONJ
arjefm-66	118	18	p	p	X
arjefm-66	118	19	*	*	X
arjefm-66	118	20	at	at	ADP
arjefm-66	118	21	three	three	NUM
arjefm-66	118	22	selected	select	VERB
arjefm-66	118	23	pairs	pair	NOUN
arjefm-66	118	24	of	of	ADP
arjefm-66	118	25	ηd	ηd	NOUN
arjefm-66	118	26	and	and	CCONJ
arjefm-66	118	27	ηp	ηp	ADP
arjefm-66	119	1	d	d	X
arjefm-66	119	2	*	*	PUNCT
arjefm-66	119	3	(	(	PUNCT
arjefm-66	119	4	top	top	NOUN
arjefm-66	119	5	of	of	ADP
arjefm-66	119	6	each	each	DET
arjefm-66	119	7	cell	cell	NOUN
arjefm-66	119	8	)	)	PUNCT
arjefm-66	119	9	,	,	PUNCT
arjefm-66	120	1	p	p	X
arjefm-66	120	2	*	*	X
arjefm-66	120	3	(	(	PUNCT
arjefm-66	120	4	bottom	bottom	NOUN
arjefm-66	120	5	of	of	ADP
arjefm-66	120	6	each	each	DET
arjefm-66	120	7	cell	cell	NOUN
arjefm-66	120	8	)	)	PUNCT
arjefm-66	120	9	k	k	NOUN
arjefm-66	120	10	(	(	PUNCT
arjefm-66	120	11	%	%	INTJ
arjefm-66	120	12	)	)	PUNCT
arjefm-66	120	13	ηd	ηd	NOUN
arjefm-66	120	14	,	,	PUNCT
arjefm-66	120	15	ηp	ηp	ADV
arjefm-66	120	16	0	0	NUM
arjefm-66	120	17	5	5	NUM
arjefm-66	120	18	10	10	NUM
arjefm-66	120	19	15	15	NUM
arjefm-66	120	20	20	20	NUM
arjefm-66	120	21	0.005	0.005	NUM
arjefm-66	120	22	,	,	PUNCT
arjefm-66	120	23	-1.5	-1.5	PUNCT
arjefm-66	120	24	0.0155	0.0155	NUM
arjefm-66	120	25	$	$	SYM
arjefm-66	120	26	2.42	2.42	NUM
arjefm-66	120	27	6	6	NUM
arjefm-66	120	28	0.016	0.016	NUM
arjefm-66	120	29	4	4	NUM
arjefm-66	120	30	$	$	SYM
arjefm-66	120	31	2.43	2.43	NUM
arjefm-66	120	32	6	6	NUM
arjefm-66	120	33	0.017	0.017	NUM
arjefm-66	120	34	2	2	NUM
arjefm-66	120	35	$	$	SYM
arjefm-66	120	36	2.44	2.44	NUM
arjefm-66	120	37	4	4	NUM
arjefm-66	120	38	0.017	0.017	NUM
arjefm-66	120	39	9	9	NUM
arjefm-66	120	40	$	$	SYM
arjefm-66	120	41	2.45	2.45	NUM
arjefm-66	120	42	3	3	NUM
arjefm-66	120	43	0.018	0.018	NUM
arjefm-66	120	44	7	7	NUM
arjefm-66	120	45	$	$	SYM
arjefm-66	120	46	2.46	2.46	NUM
arjefm-66	120	47	1	1	NUM
arjefm-66	120	48	0.02	0.02	NUM
arjefm-66	120	49	,	,	PUNCT
arjefm-66	120	50	-1.5	-1.5	NOUN
arjefm-66	120	51	0.028	0.028	NUM
arjefm-66	120	52	0	0	NUM
arjefm-66	120	53	$	$	SYM
arjefm-66	120	54	2.43	2.43	NUM
arjefm-66	120	55	7	7	NUM
arjefm-66	120	56	0.028	0.028	NUM
arjefm-66	120	57	7	7	NUM
arjefm-66	120	58	$	$	SYM
arjefm-66	120	59	2.44	2.44	NUM
arjefm-66	120	60	6	6	NUM
arjefm-66	120	61	0.029	0.029	NUM
arjefm-66	120	62	5	5	NUM
arjefm-66	120	63	$	$	SYM
arjefm-66	120	64	2.45	2.45	NUM
arjefm-66	120	65	4	4	NUM
arjefm-66	120	66	0.030	0.030	NUM
arjefm-66	120	67	2	2	NUM
arjefm-66	120	68	$	$	SYM
arjefm-66	120	69	2.46	2.46	NUM
arjefm-66	120	70	2	2	NUM
arjefm-66	120	71	0.0309	0.0309	NUM
arjefm-66	120	72	$	$	SYM
arjefm-66	120	73	2.47	2.47	NUM
arjefm-66	120	74	0	0	NUM
arjefm-66	120	75	0.005	0.005	NUM
arjefm-66	120	76	,	,	PUNCT
arjefm-66	120	77	-3	-3	X
arjefm-66	120	78	0.0119	0.0119	NUM
arjefm-66	120	79	$	$	SYM
arjefm-66	120	80	1.212	1.212	NUM
arjefm-66	120	81	0.012	0.012	NUM
arjefm-66	120	82	8	8	NUM
arjefm-66	120	83	$	$	SYM
arjefm-66	120	84	1.217	1.217	NUM
arjefm-66	120	85	0.013	0.013	NUM
arjefm-66	120	86	7	7	NUM
arjefm-66	120	87	$	$	SYM
arjefm-66	120	88	1.22	1.22	NUM
arjefm-66	120	89	2	2	NUM
arjefm-66	120	90	0.014	0.014	NUM
arjefm-66	120	91	5	5	NUM
arjefm-66	120	92	$	$	SYM
arjefm-66	120	93	1.22	1.22	NUM
arjefm-66	120	94	6	6	NUM
arjefm-66	120	95	0.015	0.015	NUM
arjefm-66	120	96	4	4	NUM
arjefm-66	120	97	$	$	SYM
arjefm-66	120	98	1.23	1.23	NUM
arjefm-66	120	99	0	0	NUM
arjefm-66	120	100	5	5	NUM
arjefm-66	120	101	.	.	PUNCT
arjefm-66	120	102	adding	add	VERB
arjefm-66	120	103	menu	menu	NOUN
arjefm-66	120	104	costs	cost	NOUN
arjefm-66	120	105	to	to	ADP
arjefm-66	120	106	the	the	DET
arjefm-66	120	107	model	model	NOUN
arjefm-66	120	108	.	.	PUNCT
arjefm-66	121	1	menu	menu	NOUN
arjefm-66	121	2	costs	cost	NOUN
arjefm-66	121	3	refer	refer	VERB
arjefm-66	121	4	to	to	ADP
arjefm-66	121	5	the	the	DET
arjefm-66	121	6	direct	direct	ADJ
arjefm-66	121	7	costs	cost	NOUN
arjefm-66	121	8	of	of	ADP
arjefm-66	121	9	price	price	NOUN
arjefm-66	121	10	adjustment	adjustment	NOUN
arjefm-66	121	11	(	(	PUNCT
arjefm-66	121	12	like	like	ADP
arjefm-66	121	13	changing	change	VERB
arjefm-66	121	14	a	a	DET
arjefm-66	121	15	menu	menu	NOUN
arjefm-66	121	16	)	)	PUNCT
arjefm-66	121	17	.	.	PUNCT
arjefm-66	122	1	zbaracki	zbaracki	PROPN
arjefm-66	122	2	et	et	PROPN
arjefm-66	122	3	al	al	PROPN
arjefm-66	122	4	.	.	PROPN
arjefm-66	122	5	(	(	PUNCT
arjefm-66	122	6	2004	2004	NUM
arjefm-66	122	7	)	)	PUNCT
arjefm-66	122	8	identify	identify	VERB
arjefm-66	122	9	and	and	CCONJ
arjefm-66	122	10	measure	measure	VERB
arjefm-66	122	11	three	three	NUM
arjefm-66	122	12	types	type	NOUN
arjefm-66	122	13	of	of	ADP
arjefm-66	122	14	managerial	managerial	ADJ
arjefm-66	122	15	costs	cost	NOUN
arjefm-66	122	16	(	(	PUNCT
arjefm-66	122	17	information	information	NOUN
arjefm-66	122	18	gathering	gathering	NOUN
arjefm-66	122	19	,	,	PUNCT
arjefm-66	122	20	decision	decision	NOUN
arjefm-66	122	21	-	-	PUNCT
arjefm-66	122	22	making	making	NOUN
arjefm-66	122	23	,	,	PUNCT
arjefm-66	122	24	and	and	CCONJ
arjefm-66	122	25	communication	communication	NOUN
arjefm-66	122	26	costs	cost	NOUN
arjefm-66	122	27	)	)	PUNCT
arjefm-66	122	28	and	and	CCONJ
arjefm-66	122	29	two	two	NUM
arjefm-66	122	30	types	type	NOUN
arjefm-66	122	31	of	of	ADP
arjefm-66	122	32	customer	customer	NOUN
arjefm-66	122	33	costs	cost	NOUN
arjefm-66	122	34	(	(	PUNCT
arjefm-66	122	35	communication	communication	NOUN
arjefm-66	122	36	and	and	CCONJ
arjefm-66	122	37	negotiation	negotiation	NOUN
arjefm-66	122	38	costs	cost	NOUN
arjefm-66	122	39	)	)	PUNCT
arjefm-66	122	40	related	relate	VERB
arjefm-66	122	41	to	to	ADP
arjefm-66	122	42	price	price	NOUN
arjefm-66	122	43	adjustment	adjustment	NOUN
arjefm-66	122	44	.	.	PUNCT
arjefm-66	123	1	they	they	PRON
arjefm-66	123	2	find	find	VERB
arjefm-66	123	3	that	that	SCONJ
arjefm-66	123	4	the	the	DET
arjefm-66	123	5	managerial	managerial	ADJ
arjefm-66	123	6	costs	cost	NOUN
arjefm-66	123	7	are	be	AUX
arjefm-66	123	8	more	more	ADJ
arjefm-66	123	9	than	than	ADP
arjefm-66	123	10	six	six	NUM
arjefm-66	123	11	times	time	NOUN
arjefm-66	123	12	,	,	PUNCT
arjefm-66	123	13	and	and	CCONJ
arjefm-66	123	14	customer	customer	NOUN
arjefm-66	123	15	costs	cost	VERB
arjefm-66	123	16	more	more	ADJ
arjefm-66	123	17	than	than	ADP
arjefm-66	123	18	twenty	twenty	NUM
arjefm-66	123	19	times	time	NOUN
arjefm-66	123	20	,	,	PUNCT
arjefm-66	123	21	the	the	DET
arjefm-66	123	22	menu	menu	NOUN
arjefm-66	123	23	costs	cost	NOUN
arjefm-66	123	24	,	,	PUNCT
arjefm-66	123	25	confirming	confirm	VERB
arjefm-66	123	26	mccallum	mccallum	PROPN
arjefm-66	123	27	’s	’s	PART
arjefm-66	123	28	(	(	PUNCT
arjefm-66	123	29	1988	1988	NUM
arjefm-66	123	30	)	)	PUNCT
arjefm-66	123	31	notion	notion	NOUN
arjefm-66	123	32	that	that	SCONJ
arjefm-66	123	33	menu	menu	NOUN
arjefm-66	123	34	costs	cost	NOUN
arjefm-66	123	35	are	be	AUX
arjefm-66	123	36	of	of	ADP
arjefm-66	123	37	insignificant	insignificant	ADJ
arjefm-66	123	38	magnitude	magnitude	NOUN
arjefm-66	123	39	.	.	PUNCT
arjefm-66	124	1	in	in	ADP
arjefm-66	124	2	total	total	NOUN
arjefm-66	124	3	,	,	PUNCT
arjefm-66	124	4	the	the	DET
arjefm-66	124	5	price	price	NOUN
arjefm-66	124	6	adjustment	adjustment	NOUN
arjefm-66	124	7	costs	cost	NOUN
arjefm-66	124	8	comprise	comprise	VERB
arjefm-66	124	9	1.22	1.22	NUM
arjefm-66	124	10	%	%	NOUN
arjefm-66	124	11	of	of	ADP
arjefm-66	124	12	the	the	DET
arjefm-66	124	13	company	company	NOUN
arjefm-66	124	14	’s	’s	PART
arjefm-66	124	15	revenue	revenue	NOUN
arjefm-66	124	16	,	,	PUNCT
arjefm-66	124	17	with	with	ADP
arjefm-66	124	18	menu	menu	NOUN
arjefm-66	124	19	costs	cost	NOUN
arjefm-66	124	20	comprising	comprise	VERB
arjefm-66	124	21	just	just	ADV
arjefm-66	124	22	3.57	3.57	NUM
arjefm-66	124	23	%	%	NOUN
arjefm-66	124	24	of	of	ADP
arjefm-66	124	25	the	the	DET
arjefm-66	124	26	total	total	ADJ
arjefm-66	124	27	price	price	NOUN
arjefm-66	124	28	adjustment	adjustment	NOUN
arjefm-66	124	29	costs	cost	NOUN
arjefm-66	124	30	(	(	PUNCT
arjefm-66	124	31	or	or	CCONJ
arjefm-66	124	32	0.0435	0.0435	NUM
arjefm-66	124	33	%	%	NOUN
arjefm-66	124	34	=	=	SYM
arjefm-66	124	35	3.57%*1.22	3.57%*1.22	NUM
arjefm-66	124	36	%	%	NOUN
arjefm-66	124	37	of	of	ADP
arjefm-66	124	38	the	the	DET
arjefm-66	124	39	company	company	NOUN
arjefm-66	124	40	’s	’s	PART
arjefm-66	124	41	revenue	revenue	NOUN
arjefm-66	124	42	)	)	PUNCT
arjefm-66	124	43	.	.	PUNCT
arjefm-66	125	1	zbaracki	zbaracki	PROPN
arjefm-66	125	2	et	et	PROPN
arjefm-66	125	3	al	al	PROPN
arjefm-66	125	4	.	.	PROPN
arjefm-66	126	1	(	(	PUNCT
arjefm-66	126	2	2004	2004	NUM
arjefm-66	126	3	,	,	PUNCT
arjefm-66	126	4	pp	pp	ADJ
arjefm-66	126	5	.	.	PUNCT
arjefm-66	126	6	523	523	NUM
arjefm-66	126	7	and	and	CCONJ
arjefm-66	126	8	530	530	NUM
arjefm-66	126	9	)	)	PUNCT
arjefm-66	126	10	have	have	AUX
arjefm-66	126	11	excluded	exclude	VERB
arjefm-66	126	12	fixed	fix	VERB
arjefm-66	126	13	costs	cost	NOUN
arjefm-66	126	14	from	from	ADP
arjefm-66	126	15	their	their	PRON
arjefm-66	126	16	calculations	calculation	NOUN
arjefm-66	126	17	.	.	PUNCT
arjefm-66	127	1	thus	thus	ADV
arjefm-66	127	2	a	a	DET
arjefm-66	127	3	company	company	NOUN
arjefm-66	127	4	would	would	AUX
arjefm-66	127	5	incur	incur	VERB
arjefm-66	127	6	menu	menu	NOUN
arjefm-66	127	7	costs	cost	NOUN
arjefm-66	127	8	of	of	ADP
arjefm-66	127	9	0.0435	0.0435	NUM
arjefm-66	127	10	%	%	NOUN
arjefm-66	127	11	of	of	ADP
arjefm-66	127	12	revenues	revenue	NOUN
arjefm-66	127	13	each	each	DET
arjefm-66	127	14	time	time	NOUN
arjefm-66	127	15	a	a	DET
arjefm-66	127	16	price	price	NOUN
arjefm-66	127	17	change	change	NOUN
arjefm-66	127	18	is	be	AUX
arjefm-66	127	19	made	make	VERB
arjefm-66	127	20	.	.	PUNCT
arjefm-66	128	1	also	also	ADV
arjefm-66	128	2	,	,	PUNCT
arjefm-66	128	3	the	the	DET
arjefm-66	128	4	estimates	estimate	NOUN
arjefm-66	128	5	of	of	ADP
arjefm-66	128	6	menu	menu	NOUN
arjefm-66	128	7	costs	cost	NOUN
arjefm-66	128	8	obtained	obtain	VERB
arjefm-66	128	9	from	from	ADP
arjefm-66	128	10	zbaracki	zbaracki	PROPN
arjefm-66	128	11	et	et	PROPN
arjefm-66	128	12	al	al	PROPN
arjefm-66	128	13	.	.	PROPN
arjefm-66	129	1	(	(	PUNCT
arjefm-66	129	2	2004	2004	NUM
arjefm-66	129	3	)	)	PUNCT
arjefm-66	129	4	are	be	AUX
arjefm-66	129	5	for	for	ADP
arjefm-66	129	6	a	a	DET
arjefm-66	129	7	billion	billion	NUM
arjefm-66	129	8	-	-	PUNCT
arjefm-66	129	9	dollar	dollar	NOUN
arjefm-66	129	10	company	company	NOUN
arjefm-66	129	11	.	.	PUNCT
arjefm-66	130	1	if	if	SCONJ
arjefm-66	130	2	there	there	PRON
arjefm-66	130	3	are	be	VERB
arjefm-66	130	4	economies	economy	NOUN
arjefm-66	130	5	of	of	ADP
arjefm-66	130	6	scale	scale	NOUN
arjefm-66	130	7	in	in	ADP
arjefm-66	130	8	menu	menu	NOUN
arjefm-66	130	9	costs	cost	NOUN
arjefm-66	130	10	,	,	PUNCT
arjefm-66	130	11	then	then	ADV
arjefm-66	130	12	a	a	DET
arjefm-66	130	13	smaller	small	ADJ
arjefm-66	130	14	company	company	NOUN
arjefm-66	130	15	would	would	AUX
arjefm-66	130	16	incur	incur	VERB
arjefm-66	130	17	menu	menu	NOUN
arjefm-66	130	18	costs	cost	NOUN
arjefm-66	130	19	larger	large	ADJ
arjefm-66	130	20	than	than	ADP
arjefm-66	130	21	0.0435	0.0435	NUM
arjefm-66	130	22	%	%	NOUN
arjefm-66	130	23	of	of	ADP
arjefm-66	130	24	revenues	revenue	NOUN
arjefm-66	130	25	.	.	PUNCT
arjefm-66	131	1	a	a	DET
arjefm-66	131	2	profit	profit	NOUN
arjefm-66	131	3	-	-	PUNCT
arjefm-66	131	4	maximizing	maximize	VERB
arjefm-66	131	5	firm	firm	NOUN
arjefm-66	131	6	would	would	AUX
arjefm-66	131	7	only	only	ADV
arjefm-66	131	8	change	change	VERB
arjefm-66	131	9	its	its	PRON
arjefm-66	131	10	credit	credit	NOUN
arjefm-66	131	11	terms	term	NOUN
arjefm-66	131	12	when	when	SCONJ
arjefm-66	131	13	the	the	DET
arjefm-66	131	14	increase	increase	NOUN
arjefm-66	131	15	in	in	ADP
arjefm-66	131	16	the	the	DET
arjefm-66	131	17	npv	npv	NOUN
arjefm-66	131	18	of	of	ADP
arjefm-66	131	19	its	its	PRON
arjefm-66	131	20	accounts	account	NOUN
arjefm-66	131	21	receivables	receivables	NOUN
arjefm-66	131	22	exceeds	exceed	VERB
arjefm-66	131	23	the	the	DET
arjefm-66	131	24	menu	menu	NOUN
arjefm-66	131	25	costs	cost	NOUN
arjefm-66	131	26	.	.	PUNCT
arjefm-66	132	1	with	with	ADP
arjefm-66	132	2	the	the	DET
arjefm-66	132	3	npv	npv	NOUN
arjefm-66	132	4	of	of	ADP
arjefm-66	132	5	accounts	account	NOUN
arjefm-66	132	6	receivables	receivables	NOUN
arjefm-66	132	7	,	,	PUNCT
arjefm-66	132	8	v	v	NOUN
arjefm-66	132	9	,	,	PUNCT
arjefm-66	132	10	given	give	VERB
arjefm-66	132	11	by	by	ADP
arjefm-66	132	12	equation	equation	NOUN
arjefm-66	132	13	(	(	PUNCT
arjefm-66	132	14	3	3	NUM
arjefm-66	132	15	)	)	PUNCT
arjefm-66	132	16	,	,	PUNCT
arjefm-66	132	17	the	the	DET
arjefm-66	132	18	revenues	revenue	NOUN
arjefm-66	132	19	are	be	AUX
arjefm-66	132	20	given	give	VERB
arjefm-66	132	21	by	by	ADP
arjefm-66	132	22	the	the	DET
arjefm-66	132	23	first	first	ADJ
arjefm-66	132	24	two	two	NUM
arjefm-66	132	25	terms	term	NOUN
arjefm-66	132	26	.	.	PUNCT
arjefm-66	133	1	the	the	DET
arjefm-66	133	2	increase	increase	NOUN
arjefm-66	133	3	in	in	ADP
arjefm-66	133	4	npv	npv	NOUN
arjefm-66	133	5	as	as	ADP
arjefm-66	133	6	a	a	DET
arjefm-66	133	7	percentage	percentage	NOUN
arjefm-66	133	8	of	of	ADP
arjefm-66	133	9	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-66	133	10	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-66	133	11	american	american	PROPN
arjefm-66	133	12	research	research	PROPN
arjefm-66	133	13	journal	journal	PROPN
arjefm-66	133	14	of	of	ADP
arjefm-66	133	15	economics	economic	NOUN
arjefm-66	133	16	,	,	PUNCT
arjefm-66	133	17	finance	finance	NOUN
arjefm-66	133	18	and	and	CCONJ
arjefm-66	133	19	management	management	NOUN
arjefm-66	133	20	volume	volume	NOUN
arjefm-66	133	21	10	10	NUM
arjefm-66	133	22	issue	issue	NOUN
arjefm-66	133	23	2	2	NUM
arjefm-66	133	24	,	,	PUNCT
arjefm-66	133	25	april	april	PROPN
arjefm-66	133	26	-	-	PUNCT
arjefm-66	133	27	june	june	PROPN
arjefm-66	133	28	2022	2022	PROPN
arjefm-66	133	29	issn	issn	PROPN
arjefm-66	133	30	:	:	PUNCT
arjefm-66	133	31	2836	2836	NUM
arjefm-66	133	32	-	-	SYM
arjefm-66	133	33	9416	9416	NUM
arjefm-66	133	34	impact	impact	NOUN
arjefm-66	133	35	factor	factor	NOUN
arjefm-66	133	36	:	:	PUNCT
arjefm-66	133	37	4.85	4.85	NUM
arjefm-66	133	38	journal	journal	NOUN
arjefm-66	133	39	homepage	homepage	NOUN
arjefm-66	133	40	:	:	PUNCT
arjefm-66	133	41	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-66	133	42	,	,	PUNCT
arjefm-66	133	43	email	email	NOUN
arjefm-66	133	44	:	:	PUNCT
arjefm-66	133	45	contact@americaserial.com	contact@americaserial.com	PROPN
arjefm-66	133	46	official	official	ADJ
arjefm-66	133	47	journal	journal	PROPN
arjefm-66	133	48	of	of	ADP
arjefm-66	133	49	america	america	PROPN
arjefm-66	133	50	serial	serial	PROPN
arjefm-66	133	51	publication	publication	NOUN
arjefm-66	133	52	american	american	PROPN
arjefm-66	133	53	research	research	PROPN
arjefm-66	133	54	journal	journal	PROPN
arjefm-66	133	55	of	of	ADP
arjefm-66	133	56	economics	economic	NOUN
arjefm-66	133	57	,	,	PUNCT
arjefm-66	133	58	finance	finance	NOUN
arjefm-66	133	59	and	and	CCONJ
arjefm-66	133	60	management	management	NOUN
arjefm-66	133	61	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-66	133	62	,	,	PUNCT
arjefm-66	133	63	email	email	NOUN
arjefm-66	133	64	:	:	PUNCT
arjefm-66	133	65	contact@americaserial.com	contact@americaserial.com	X
arjefm-66	134	1	49	49	NUM
arjefm-66	135	1	|	|	ADV
arjefm-66	135	2	p	p	X
arjefm-66	135	3	a	a	DET
arjefm-66	135	4	g	g	NOUN
arjefm-66	135	5	e	e	NOUN
arjefm-66	135	6	revenues	revenue	NOUN
arjefm-66	135	7	is	be	AUX
arjefm-66	135	8	calculated	calculate	VERB
arjefm-66	135	9	in	in	ADP
arjefm-66	135	10	appendix	appendix	NOUN
arjefm-66	135	11	3	3	NUM
arjefm-66	135	12	.	.	PUNCT
arjefm-66	135	13	suppose	suppose	VERB
arjefm-66	135	14	that	that	SCONJ
arjefm-66	135	15	k	k	PROPN
arjefm-66	135	16	is	be	AUX
arjefm-66	135	17	initially	initially	ADV
arjefm-66	135	18	at	at	ADP
arjefm-66	135	19	5	5	NUM
arjefm-66	135	20	%	%	NOUN
arjefm-66	135	21	.	.	PUNCT
arjefm-66	136	1	also	also	ADV
arjefm-66	136	2	suppose	suppose	VERB
arjefm-66	136	3	(	(	PUNCT
arjefm-66	136	4	ηd	ηd	NOUN
arjefm-66	136	5	,	,	PUNCT
arjefm-66	136	6	ηp)=	ηp)=	NOUN
arjefm-66	136	7	(	(	PUNCT
arjefm-66	136	8	0.005,1.5	0.005,1.5	PROPN
arjefm-66	136	9	)	)	PUNCT
arjefm-66	136	10	.	.	PUNCT
arjefm-66	137	1	from	from	ADP
arjefm-66	137	2	table	table	NOUN
arjefm-66	137	3	2	2	NUM
arjefm-66	137	4	,	,	PUNCT
arjefm-66	137	5	d	d	X
arjefm-66	137	6	*	*	PUNCT
arjefm-66	137	7	is	be	AUX
arjefm-66	137	8	1.64	1.64	NUM
arjefm-66	137	9	%	%	NOUN
arjefm-66	137	10	and	and	CCONJ
arjefm-66	137	11	p	p	X
arjefm-66	137	12	*	*	ADJ
arjefm-66	137	13	is	be	AUX
arjefm-66	137	14	$	$	SYM
arjefm-66	137	15	2.436	2.436	NUM
arjefm-66	137	16	.	.	PUNCT
arjefm-66	138	1	now	now	ADV
arjefm-66	138	2	if	if	SCONJ
arjefm-66	138	3	the	the	DET
arjefm-66	138	4	central	central	ADJ
arjefm-66	138	5	bank	bank	NOUN
arjefm-66	138	6	raises	raise	VERB
arjefm-66	138	7	short	short	ADJ
arjefm-66	138	8	-	-	PUNCT
arjefm-66	138	9	term	term	NOUN
arjefm-66	138	10	interest	interest	NOUN
arjefm-66	138	11	rates	rate	NOUN
arjefm-66	138	12	such	such	ADJ
arjefm-66	138	13	that	that	SCONJ
arjefm-66	138	14	k	k	PROPN
arjefm-66	138	15	is	be	AUX
arjefm-66	138	16	now	now	ADV
arjefm-66	138	17	10	10	NUM
arjefm-66	138	18	%	%	NOUN
arjefm-66	138	19	,	,	PUNCT
arjefm-66	138	20	the	the	DET
arjefm-66	138	21	firm	firm	NOUN
arjefm-66	138	22	must	must	AUX
arjefm-66	138	23	decide	decide	VERB
arjefm-66	138	24	whether	whether	SCONJ
arjefm-66	138	25	to	to	PART
arjefm-66	138	26	change	change	VERB
arjefm-66	138	27	d	d	PROPN
arjefm-66	138	28	and	and	CCONJ
arjefm-66	138	29	p	p	X
arjefm-66	138	30	to	to	ADP
arjefm-66	138	31	their	their	PRON
arjefm-66	138	32	new	new	ADJ
arjefm-66	138	33	optimal	optimal	ADJ
arjefm-66	138	34	levels	level	NOUN
arjefm-66	138	35	of	of	ADP
arjefm-66	138	36	1.72	1.72	NUM
arjefm-66	138	37	%	%	NOUN
arjefm-66	138	38	and	and	CCONJ
arjefm-66	138	39	$	$	SYM
arjefm-66	138	40	2.444	2.444	NUM
arjefm-66	138	41	respectively	respectively	ADV
arjefm-66	138	42	.	.	PUNCT
arjefm-66	139	1	assuming	assume	VERB
arjefm-66	139	2	that	that	SCONJ
arjefm-66	139	3	k	k	PROPN
arjefm-66	139	4	stays	stay	VERB
arjefm-66	139	5	at	at	ADP
arjefm-66	139	6	10	10	NUM
arjefm-66	139	7	%	%	NOUN
arjefm-66	139	8	for	for	ADP
arjefm-66	139	9	the	the	DET
arjefm-66	139	10	next	next	ADJ
arjefm-66	139	11	30	30	NUM
arjefm-66	139	12	days	day	NOUN
arjefm-66	139	13	,	,	PUNCT
arjefm-66	139	14	in	in	ADP
arjefm-66	139	15	our	our	PRON
arjefm-66	139	16	model	model	NOUN
arjefm-66	139	17	,	,	PUNCT
arjefm-66	139	18	the	the	DET
arjefm-66	139	19	menu	menu	NOUN
arjefm-66	139	20	costs	cost	NOUN
arjefm-66	139	21	at	at	ADP
arjefm-66	139	22	the	the	DET
arjefm-66	139	23	end	end	NOUN
arjefm-66	139	24	of	of	ADP
arjefm-66	139	25	the	the	DET
arjefm-66	139	26	credit	credit	NOUN
arjefm-66	139	27	period	period	NOUN
arjefm-66	139	28	is	be	AUX
arjefm-66	139	29	0.0435%*1.1^(30/360	0.0435%*1.1^(30/360	NUM
arjefm-66	139	30	)	)	PUNCT
arjefm-66	140	1	=	=	NOUN
arjefm-66	140	2	0.0438	0.0438	NUM
arjefm-66	140	3	%	%	NOUN
arjefm-66	140	4	of	of	ADP
arjefm-66	140	5	revenues	revenue	NOUN
arjefm-66	140	6	.	.	PUNCT
arjefm-66	141	1	the	the	DET
arjefm-66	141	2	firm	firm	NOUN
arjefm-66	141	3	will	will	AUX
arjefm-66	141	4	change	change	VERB
arjefm-66	141	5	d	d	PROPN
arjefm-66	141	6	and	and	CCONJ
arjefm-66	141	7	p	p	NOUN
arjefm-66	141	8	if	if	SCONJ
arjefm-66	141	9	∆z	∆z	PROPN
arjefm-66	141	10	is	be	AUX
arjefm-66	141	11	greater	great	ADJ
arjefm-66	141	12	than	than	ADP
arjefm-66	141	13	0.0438	0.0438	NUM
arjefm-66	141	14	%	%	NOUN
arjefm-66	141	15	.	.	PUNCT
arjefm-66	142	1	now	now	ADV
arjefm-66	142	2	zd	zd	PROPN
arjefm-66	142	3	=	=	NUM
arjefm-66	142	4	2.575	2.575	NUM
arjefm-66	142	5	%	%	NOUN
arjefm-66	142	6	and	and	CCONJ
arjefm-66	142	7	zp	zp	NOUN
arjefm-66	142	8	=	=	NOUN
arjefm-66	142	9	0.07	0.07	NUM
arjefm-66	142	10	%	%	NOUN
arjefm-66	142	11	.	.	PUNCT
arjefm-66	143	1	both	both	DET
arjefm-66	143	2	zd	zd	PROPN
arjefm-66	143	3	and	and	CCONJ
arjefm-66	143	4	zp	zp	PROPN
arjefm-66	143	5	are	be	AUX
arjefm-66	143	6	evaluated	evaluate	VERB
arjefm-66	143	7	at	at	ADP
arjefm-66	143	8	the	the	DET
arjefm-66	143	9	old	old	ADJ
arjefm-66	143	10	optimum	optimum	NOUN
arjefm-66	143	11	of	of	ADP
arjefm-66	143	12	d=1.64	d=1.64	NOUN
arjefm-66	143	13	%	%	NOUN
arjefm-66	143	14	and	and	CCONJ
arjefm-66	143	15	p=$2.436	p=$2.436	NUM
arjefm-66	143	16	,	,	PUNCT
arjefm-66	143	17	but	but	CCONJ
arjefm-66	143	18	with	with	ADP
arjefm-66	143	19	k=10	k=10	PROPN
arjefm-66	143	20	%	%	NOUN
arjefm-66	143	21	(	(	PUNCT
arjefm-66	143	22	i.e.	i.e.	X
arjefm-66	143	23	,	,	PUNCT
arjefm-66	143	24	at	at	ADP
arjefm-66	143	25	the	the	DET
arjefm-66	143	26	new	new	ADJ
arjefm-66	143	27	value	value	NOUN
arjefm-66	143	28	of	of	ADP
arjefm-66	143	29	k	k	PROPN
arjefm-66	143	30	which	which	PRON
arjefm-66	143	31	is	be	AUX
arjefm-66	143	32	exogenous	exogenous	ADJ
arjefm-66	143	33	)	)	PUNCT
arjefm-66	143	34	.	.	PUNCT
arjefm-66	144	1	so	so	ADV
arjefm-66	144	2	∆d	∆d	PROPN
arjefm-66	144	3	=	=	PUNCT
arjefm-66	145	1	1.72%-1.64	1.72%-1.64	NUM
arjefm-66	145	2	%	%	NOUN
arjefm-66	145	3	=	=	SYM
arjefm-66	145	4	0.08	0.08	NUM
arjefm-66	145	5	%	%	NOUN
arjefm-66	145	6	or	or	CCONJ
arjefm-66	145	7	0.0008	0.0008	NUM
arjefm-66	145	8	and	and	CCONJ
arjefm-66	145	9	∆p	∆p	NOUN
arjefm-66	145	10	=	=	PUNCT
arjefm-66	145	11	$	$	SYM
arjefm-66	145	12	2.4444-$2.4356	2.4444-$2.4356	NUM
arjefm-66	145	13	=	=	PUNCT
arjefm-66	145	14	$	$	SYM
arjefm-66	145	15	0.0088	0.0088	NUM
arjefm-66	145	16	.	.	PUNCT
arjefm-66	146	1	thus	thus	ADV
arjefm-66	146	2	zd*∆d	zd*∆d	NOUN
arjefm-66	146	3	=	=	SYM
arjefm-66	146	4	0.00207	0.00207	NUM
arjefm-66	146	5	%	%	NOUN
arjefm-66	146	6	of	of	ADP
arjefm-66	146	7	revenues	revenue	NOUN
arjefm-66	146	8	,	,	PUNCT
arjefm-66	146	9	which	which	PRON
arjefm-66	146	10	is	be	AUX
arjefm-66	146	11	the	the	DET
arjefm-66	146	12	increase	increase	NOUN
arjefm-66	146	13	in	in	ADP
arjefm-66	146	14	npv	npv	NOUN
arjefm-66	146	15	when	when	SCONJ
arjefm-66	146	16	the	the	DET
arjefm-66	146	17	firm	firm	NOUN
arjefm-66	146	18	optimizes	optimize	VERB
arjefm-66	146	19	its	its	PRON
arjefm-66	146	20	cash	cash	NOUN
arjefm-66	146	21	discount	discount	NOUN
arjefm-66	146	22	,	,	PUNCT
arjefm-66	146	23	and	and	CCONJ
arjefm-66	146	24	zp*∆p	zp*∆p	NUM
arjefm-66	146	25	=	=	SYM
arjefm-66	146	26	0.00063	0.00063	NUM
arjefm-66	146	27	%	%	NOUN
arjefm-66	146	28	of	of	ADP
arjefm-66	146	29	revenues	revenue	NOUN
arjefm-66	146	30	,	,	PUNCT
arjefm-66	146	31	which	which	PRON
arjefm-66	146	32	is	be	AUX
arjefm-66	146	33	the	the	DET
arjefm-66	146	34	increase	increase	NOUN
arjefm-66	146	35	in	in	ADP
arjefm-66	146	36	npv	npv	NOUN
arjefm-66	146	37	when	when	SCONJ
arjefm-66	146	38	the	the	DET
arjefm-66	146	39	firm	firm	NOUN
arjefm-66	146	40	optimizes	optimize	VERB
arjefm-66	146	41	its	its	PRON
arjefm-66	146	42	product	product	NOUN
arjefm-66	146	43	price	price	NOUN
arjefm-66	146	44	.	.	PUNCT
arjefm-66	147	1	the	the	DET
arjefm-66	147	2	total	total	ADJ
arjefm-66	147	3	increase	increase	NOUN
arjefm-66	147	4	in	in	ADP
arjefm-66	147	5	npv	npv	NOUN
arjefm-66	147	6	when	when	SCONJ
arjefm-66	147	7	the	the	DET
arjefm-66	147	8	firm	firm	NOUN
arjefm-66	147	9	optimizes	optimize	VERB
arjefm-66	147	10	both	both	DET
arjefm-66	147	11	d	d	NOUN
arjefm-66	147	12	and	and	CCONJ
arjefm-66	147	13	p	p	NOUN
arjefm-66	147	14	is	be	AUX
arjefm-66	147	15	∆z	∆z	PROPN
arjefm-66	147	16	=	=	SYM
arjefm-66	147	17	0.0027	0.0027	NUM
arjefm-66	147	18	%	%	NOUN
arjefm-66	147	19	of	of	ADP
arjefm-66	147	20	revenues	revenue	NOUN
arjefm-66	147	21	,	,	PUNCT
arjefm-66	147	22	which	which	PRON
arjefm-66	147	23	is	be	AUX
arjefm-66	147	24	well	well	ADV
arjefm-66	147	25	below	below	ADP
arjefm-66	147	26	the	the	DET
arjefm-66	147	27	menu	menu	NOUN
arjefm-66	147	28	costs	cost	NOUN
arjefm-66	147	29	of	of	ADP
arjefm-66	147	30	0.0438	0.0438	NUM
arjefm-66	147	31	%	%	NOUN
arjefm-66	147	32	of	of	ADP
arjefm-66	147	33	revenues	revenue	NOUN
arjefm-66	147	34	.	.	PUNCT
arjefm-66	148	1	even	even	ADV
arjefm-66	148	2	though	though	SCONJ
arjefm-66	148	3	npv	npv	NOUN
arjefm-66	148	4	increases	increase	VERB
arjefm-66	148	5	when	when	SCONJ
arjefm-66	148	6	the	the	DET
arjefm-66	148	7	firm	firm	NOUN
arjefm-66	148	8	optimizes	optimize	VERB
arjefm-66	148	9	d	d	NOUN
arjefm-66	148	10	and	and	CCONJ
arjefm-66	148	11	p	p	X
arjefm-66	148	12	,	,	PUNCT
arjefm-66	148	13	the	the	DET
arjefm-66	148	14	increase	increase	NOUN
arjefm-66	148	15	is	be	AUX
arjefm-66	148	16	much	much	ADV
arjefm-66	148	17	less	less	ADJ
arjefm-66	148	18	than	than	ADP
arjefm-66	148	19	the	the	DET
arjefm-66	148	20	menu	menu	NOUN
arjefm-66	148	21	costs	cost	NOUN
arjefm-66	148	22	.	.	PUNCT
arjefm-66	149	1	therefore	therefore	ADV
arjefm-66	149	2	,	,	PUNCT
arjefm-66	149	3	the	the	DET
arjefm-66	149	4	firm	firm	NOUN
arjefm-66	149	5	would	would	AUX
arjefm-66	149	6	optimally	optimally	ADV
arjefm-66	149	7	choose	choose	VERB
arjefm-66	149	8	not	not	PART
arjefm-66	149	9	to	to	PART
arjefm-66	149	10	change	change	VERB
arjefm-66	149	11	d	d	NOUN
arjefm-66	149	12	and	and	CCONJ
arjefm-66	149	13	p.	p.	NOUN
arjefm-66	149	14	table	table	NOUN
arjefm-66	149	15	3	3	NUM
arjefm-66	149	16	shows	show	VERB
arjefm-66	149	17	the	the	DET
arjefm-66	149	18	menu	menu	NOUN
arjefm-66	149	19	costs	cost	NOUN
arjefm-66	149	20	(	(	PUNCT
arjefm-66	149	21	as	as	ADP
arjefm-66	149	22	a	a	DET
arjefm-66	149	23	percentage	percentage	NOUN
arjefm-66	149	24	of	of	ADP
arjefm-66	149	25	revenues	revenue	NOUN
arjefm-66	149	26	)	)	PUNCT
arjefm-66	149	27	at	at	ADP
arjefm-66	149	28	the	the	DET
arjefm-66	149	29	end	end	NOUN
arjefm-66	149	30	of	of	ADP
arjefm-66	149	31	the	the	DET
arjefm-66	149	32	credit	credit	NOUN
arjefm-66	149	33	period	period	NOUN
arjefm-66	149	34	for	for	ADP
arjefm-66	149	35	different	different	ADJ
arjefm-66	149	36	levels	level	NOUN
arjefm-66	149	37	of	of	ADP
arjefm-66	149	38	k.	k.	PROPN
arjefm-66	149	39	these	these	DET
arjefm-66	149	40	menu	menu	NOUN
arjefm-66	149	41	costs	cost	NOUN
arjefm-66	149	42	will	will	AUX
arjefm-66	149	43	be	be	AUX
arjefm-66	149	44	compared	compare	VERB
arjefm-66	149	45	to	to	ADP
arjefm-66	149	46	the	the	DET
arjefm-66	149	47	estimates	estimate	NOUN
arjefm-66	149	48	of	of	ADP
arjefm-66	149	49	the	the	DET
arjefm-66	149	50	increase	increase	NOUN
arjefm-66	149	51	in	in	ADP
arjefm-66	149	52	npv	npv	NOUN
arjefm-66	149	53	from	from	ADP
arjefm-66	149	54	optimizing	optimize	VERB
arjefm-66	149	55	d	d	PROPN
arjefm-66	149	56	and	and	CCONJ
arjefm-66	149	57	p	p	X
arjefm-66	149	58	,	,	PUNCT
arjefm-66	149	59	as	as	SCONJ
arjefm-66	149	60	shown	show	VERB
arjefm-66	149	61	in	in	ADP
arjefm-66	149	62	tables	table	NOUN
arjefm-66	149	63	4	4	NUM
arjefm-66	149	64	to	to	PART
arjefm-66	149	65	8	8	NUM
arjefm-66	149	66	,	,	PUNCT
arjefm-66	149	67	where	where	SCONJ
arjefm-66	149	68	each	each	DET
arjefm-66	149	69	table	table	NOUN
arjefm-66	149	70	is	be	AUX
arjefm-66	149	71	for	for	ADP
arjefm-66	149	72	different	different	ADJ
arjefm-66	149	73	pairs	pair	NOUN
arjefm-66	149	74	of	of	ADP
arjefm-66	149	75	elasticities	elasticity	NOUN
arjefm-66	149	76	.	.	PUNCT
arjefm-66	150	1	tables	table	NOUN
arjefm-66	150	2	4	4	NUM
arjefm-66	150	3	to	to	PART
arjefm-66	150	4	6	6	NUM
arjefm-66	150	5	have	have	VERB
arjefm-66	150	6	the	the	DET
arjefm-66	150	7	bad	bad	ADJ
arjefm-66	150	8	-	-	PUNCT
arjefm-66	150	9	debt	debt	NOUN
arjefm-66	150	10	loss	loss	NOUN
arjefm-66	150	11	falling	fall	VERB
arjefm-66	150	12	proportionately	proportionately	ADV
arjefm-66	150	13	as	as	ADP
arjefm-66	150	14	the	the	DET
arjefm-66	150	15	cash	cash	NOUN
arjefm-66	150	16	discount	discount	NOUN
arjefm-66	150	17	,	,	PUNCT
arjefm-66	150	18	d	d	NOUN
arjefm-66	150	19	,	,	PUNCT
arjefm-66	150	20	increases	increase	NOUN
arjefm-66	150	21	(	(	PUNCT
arjefm-66	150	22	∂λ/∂d=0	∂λ/∂d=0	NUM
arjefm-66	150	23	)	)	PUNCT
arjefm-66	150	24	,	,	PUNCT
arjefm-66	150	25	table	table	NOUN
arjefm-66	150	26	7	7	NUM
arjefm-66	150	27	has	have	VERB
arjefm-66	150	28	the	the	DET
arjefm-66	150	29	bad	bad	ADJ
arjefm-66	150	30	-	-	PUNCT
arjefm-66	150	31	debt	debt	NOUN
arjefm-66	150	32	loss	loss	NOUN
arjefm-66	150	33	about	about	ADP
arjefm-66	150	34	constant	constant	ADJ
arjefm-66	150	35	(	(	PUNCT
arjefm-66	150	36	∂λ/∂d=0.1	∂λ/∂d=0.1	NOUN
arjefm-66	150	37	)	)	PUNCT
arjefm-66	150	38	,	,	PUNCT
arjefm-66	150	39	and	and	CCONJ
arjefm-66	150	40	table	table	NOUN
arjefm-66	150	41	8	8	NUM
arjefm-66	150	42	has	have	VERB
arjefm-66	150	43	the	the	DET
arjefm-66	150	44	bad	bad	ADJ
arjefm-66	150	45	-	-	PUNCT
arjefm-66	150	46	debt	debt	NOUN
arjefm-66	150	47	loss	loss	NOUN
arjefm-66	150	48	increasing	increase	VERB
arjefm-66	150	49	as	as	ADP
arjefm-66	150	50	d	d	NOUN
arjefm-66	150	51	increases	increase	NOUN
arjefm-66	150	52	(	(	PUNCT
arjefm-66	150	53	∂λ/∂d=-0.625	∂λ/∂d=-0.625	NOUN
arjefm-66	150	54	)	)	PUNCT
arjefm-66	150	55	.	.	PUNCT
arjefm-66	151	1	we	we	PRON
arjefm-66	151	2	assume	assume	VERB
arjefm-66	151	3	that	that	SCONJ
arjefm-66	151	4	k=5	k=5	PROPN
arjefm-66	151	5	%	%	NOUN
arjefm-66	151	6	initially	initially	ADV
arjefm-66	151	7	,	,	PUNCT
arjefm-66	151	8	and	and	CCONJ
arjefm-66	151	9	the	the	DET
arjefm-66	151	10	central	central	ADJ
arjefm-66	151	11	bank	bank	NOUN
arjefm-66	151	12	can	can	AUX
arjefm-66	151	13	increase	increase	VERB
arjefm-66	151	14	k	k	PROPN
arjefm-66	151	15	from	from	ADP
arjefm-66	151	16	5	5	NUM
arjefm-66	151	17	%	%	NOUN
arjefm-66	151	18	to	to	ADP
arjefm-66	151	19	the	the	DET
arjefm-66	151	20	levels	level	NOUN
arjefm-66	151	21	of	of	ADP
arjefm-66	151	22	k	k	PROPN
arjefm-66	151	23	reported	report	VERB
arjefm-66	151	24	in	in	ADP
arjefm-66	151	25	the	the	DET
arjefm-66	151	26	tables	table	NOUN
arjefm-66	151	27	.	.	PUNCT
arjefm-66	152	1	for	for	ADP
arjefm-66	152	2	example	example	NOUN
arjefm-66	152	3	,	,	PUNCT
arjefm-66	152	4	k=20	k=20	PROPN
arjefm-66	152	5	%	%	NOUN
arjefm-66	152	6	refers	refer	VERB
arjefm-66	152	7	to	to	ADP
arjefm-66	152	8	the	the	DET
arjefm-66	152	9	central	central	ADJ
arjefm-66	152	10	bank	bank	PROPN
arjefm-66	152	11	raising	raise	VERB
arjefm-66	152	12	k	k	PROPN
arjefm-66	152	13	from	from	ADP
arjefm-66	152	14	5	5	NUM
arjefm-66	152	15	%	%	NOUN
arjefm-66	152	16	to	to	PART
arjefm-66	152	17	20	20	NUM
arjefm-66	152	18	%	%	NOUN
arjefm-66	152	19	and	and	CCONJ
arjefm-66	152	20	lists	list	VERB
arjefm-66	152	21	the	the	DET
arjefm-66	152	22	optimal	optimal	ADJ
arjefm-66	152	23	d	d	NOUN
arjefm-66	152	24	*	*	PROPN
arjefm-66	152	25	and	and	CCONJ
arjefm-66	152	26	p	p	X
arjefm-66	152	27	*	*	X
arjefm-66	152	28	for	for	ADP
arjefm-66	152	29	k=20	k=20	PROPN
arjefm-66	152	30	%	%	NOUN
arjefm-66	152	31	and	and	CCONJ
arjefm-66	152	32	computations	computation	NOUN
arjefm-66	152	33	of	of	ADP
arjefm-66	152	34	the	the	DET
arjefm-66	152	35	npv	npv	NOUN
arjefm-66	152	36	increase	increase	NOUN
arjefm-66	152	37	.	.	PUNCT
arjefm-66	153	1	the	the	DET
arjefm-66	153	2	point	point	NOUN
arjefm-66	153	3	is	be	AUX
arjefm-66	153	4	to	to	PART
arjefm-66	153	5	find	find	VERB
arjefm-66	153	6	out	out	ADP
arjefm-66	153	7	how	how	SCONJ
arjefm-66	153	8	much	much	ADJ
arjefm-66	153	9	k	k	NOUN
arjefm-66	153	10	must	must	AUX
arjefm-66	153	11	increase	increase	VERB
arjefm-66	153	12	from	from	ADP
arjefm-66	153	13	5	5	NUM
arjefm-66	153	14	%	%	NOUN
arjefm-66	153	15	in	in	ADP
arjefm-66	153	16	order	order	NOUN
arjefm-66	153	17	for	for	ADP
arjefm-66	153	18	the	the	DET
arjefm-66	153	19	increase	increase	NOUN
arjefm-66	153	20	in	in	ADP
arjefm-66	153	21	npv	npv	NOUN
arjefm-66	153	22	from	from	ADP
arjefm-66	153	23	optimizing	optimize	VERB
arjefm-66	153	24	d	d	PROPN
arjefm-66	153	25	and	and	CCONJ
arjefm-66	153	26	p	p	NOUN
arjefm-66	153	27	to	to	PART
arjefm-66	153	28	be	be	AUX
arjefm-66	153	29	larger	large	ADJ
arjefm-66	153	30	than	than	ADP
arjefm-66	153	31	the	the	DET
arjefm-66	153	32	menu	menu	NOUN
arjefm-66	153	33	costs	cost	NOUN
arjefm-66	153	34	.	.	PUNCT
arjefm-66	154	1	the	the	DET
arjefm-66	154	2	second	second	ADJ
arjefm-66	154	3	column	column	NOUN
arjefm-66	154	4	in	in	ADP
arjefm-66	154	5	each	each	DET
arjefm-66	154	6	table	table	NOUN
arjefm-66	154	7	lists	list	VERB
arjefm-66	154	8	the	the	DET
arjefm-66	154	9	optimal	optimal	ADJ
arjefm-66	154	10	d	d	NOUN
arjefm-66	154	11	*	*	PROPN
arjefm-66	154	12	and	and	CCONJ
arjefm-66	154	13	p	p	X
arjefm-66	154	14	*	*	X
arjefm-66	154	15	for	for	ADP
arjefm-66	154	16	the	the	DET
arjefm-66	154	17	respective	respective	ADJ
arjefm-66	154	18	k.	k.	PROPN
arjefm-66	155	1	the	the	DET
arjefm-66	155	2	third	third	ADJ
arjefm-66	155	3	column	column	NOUN
arjefm-66	155	4	in	in	ADP
arjefm-66	155	5	each	each	DET
arjefm-66	155	6	table	table	NOUN
arjefm-66	155	7	lists	list	VERB
arjefm-66	155	8	the	the	DET
arjefm-66	155	9	increase	increase	NOUN
arjefm-66	155	10	in	in	ADP
arjefm-66	155	11	npv	npv	NOUN
arjefm-66	155	12	(	(	PUNCT
arjefm-66	155	13	as	as	ADP
arjefm-66	155	14	a	a	DET
arjefm-66	155	15	percentage	percentage	NOUN
arjefm-66	155	16	of	of	ADP
arjefm-66	155	17	revenues	revenue	NOUN
arjefm-66	155	18	)	)	PUNCT
arjefm-66	155	19	when	when	SCONJ
arjefm-66	155	20	the	the	DET
arjefm-66	155	21	firm	firm	NOUN
arjefm-66	155	22	optimizes	optimize	VERB
arjefm-66	155	23	d	d	NOUN
arjefm-66	155	24	,	,	PUNCT
arjefm-66	155	25	which	which	PRON
arjefm-66	155	26	is	be	AUX
arjefm-66	155	27	zd*∆d	zd*∆d	NOUN
arjefm-66	155	28	.	.	PUNCT
arjefm-66	156	1	in	in	ADP
arjefm-66	156	2	order	order	NOUN
arjefm-66	156	3	to	to	PART
arjefm-66	156	4	calculate	calculate	VERB
arjefm-66	156	5	zd	zd	PROPN
arjefm-66	156	6	with	with	ADP
arjefm-66	156	7	∂λ/∂d	∂λ/∂d	PROPN
arjefm-66	156	8	nonzero	nonzero	NOUN
arjefm-66	156	9	in	in	ADP
arjefm-66	156	10	tables	table	NOUN
arjefm-66	156	11	7	7	NUM
arjefm-66	156	12	and	and	CCONJ
arjefm-66	156	13	8	8	NUM
arjefm-66	156	14	,	,	PUNCT
arjefm-66	156	15	we	we	PRON
arjefm-66	156	16	replace	replace	VERB
arjefm-66	156	17	zd	zd	PROPN
arjefm-66	156	18	with	with	ADP
arjefm-66	156	19	zd	zd	PROPN
arjefm-66	156	20	'	'	PUNCT
arjefm-66	156	21	,	,	PUNCT
arjefm-66	156	22	with	with	ADP
arjefm-66	156	23	zd	zd	PROPN
arjefm-66	156	24	'	'	PART
arjefm-66	156	25	=	=	SYM
arjefm-66	156	26	100*[(∂z/∂d)/d	100*[(∂z/∂d)/d	PROPN
arjefm-66	156	27	+	+	CCONJ
arjefm-66	156	28	(	(	PUNCT
arjefm-66	156	29	1	1	NUM
arjefm-66	156	30	-	-	PUNCT
arjefm-66	156	31	p	p	NOUN
arjefm-66	156	32	)	)	PUNCT
arjefm-66	156	33	*	*	PUNCT
arjefm-66	157	1	∂λ/∂d	∂λ/∂d	PROPN
arjefm-66	157	2	*	*	PUNCT
arjefm-66	157	3	d]/a	d]/a	NOUN
arjefm-66	157	4	where	where	SCONJ
arjefm-66	157	5	∂z/∂d	∂z/∂d	PROPN
arjefm-66	157	6	is	be	AUX
arjefm-66	157	7	defined	define	VERB
arjefm-66	157	8	by	by	ADP
arjefm-66	157	9	equation	equation	NOUN
arjefm-66	157	10	(	(	PUNCT
arjefm-66	157	11	4	4	NUM
arjefm-66	157	12	)	)	PUNCT
arjefm-66	157	13	.	.	PUNCT
arjefm-66	158	1	the	the	DET
arjefm-66	158	2	fourth	fourth	ADJ
arjefm-66	158	3	column	column	NOUN
arjefm-66	158	4	in	in	ADP
arjefm-66	158	5	each	each	DET
arjefm-66	158	6	table	table	NOUN
arjefm-66	158	7	lists	list	VERB
arjefm-66	158	8	the	the	DET
arjefm-66	158	9	increase	increase	NOUN
arjefm-66	158	10	in	in	ADP
arjefm-66	158	11	npv	npv	NOUN
arjefm-66	158	12	(	(	PUNCT
arjefm-66	158	13	as	as	ADP
arjefm-66	158	14	a	a	DET
arjefm-66	158	15	percentage	percentage	NOUN
arjefm-66	158	16	of	of	ADP
arjefm-66	158	17	revenues	revenue	NOUN
arjefm-66	158	18	)	)	PUNCT
arjefm-66	158	19	when	when	SCONJ
arjefm-66	158	20	the	the	DET
arjefm-66	158	21	firm	firm	NOUN
arjefm-66	158	22	optimizes	optimize	VERB
arjefm-66	158	23	p	p	X
arjefm-66	158	24	,	,	PUNCT
arjefm-66	158	25	which	which	PRON
arjefm-66	158	26	is	be	AUX
arjefm-66	158	27	zp*∆p	zp*∆p	NOUN
arjefm-66	158	28	.	.	PUNCT
arjefm-66	158	29	note	note	NOUN
arjefm-66	158	30	that	that	SCONJ
arjefm-66	158	31	zp	zp	PROPN
arjefm-66	158	32	is	be	AUX
arjefm-66	158	33	unaffected	unaffected	ADJ
arjefm-66	158	34	by	by	ADP
arjefm-66	158	35	∂λ/∂d	∂λ/∂d	PROPN
arjefm-66	158	36	.	.	PUNCT
arjefm-66	159	1	the	the	DET
arjefm-66	159	2	fifth	fifth	ADJ
arjefm-66	159	3	column	column	NOUN
arjefm-66	159	4	in	in	ADP
arjefm-66	159	5	each	each	DET
arjefm-66	159	6	table	table	NOUN
arjefm-66	159	7	lists	list	VERB
arjefm-66	159	8	the	the	DET
arjefm-66	159	9	total	total	ADJ
arjefm-66	159	10	increase	increase	NOUN
arjefm-66	159	11	in	in	ADP
arjefm-66	159	12	npv	npv	NOUN
arjefm-66	159	13	(	(	PUNCT
arjefm-66	159	14	as	as	ADP
arjefm-66	159	15	a	a	DET
arjefm-66	159	16	percentage	percentage	NOUN
arjefm-66	159	17	of	of	ADP
arjefm-66	159	18	revenues	revenue	NOUN
arjefm-66	159	19	)	)	PUNCT
arjefm-66	159	20	when	when	SCONJ
arjefm-66	159	21	the	the	DET
arjefm-66	159	22	firm	firm	NOUN
arjefm-66	159	23	optimizes	optimize	VERB
arjefm-66	159	24	both	both	DET
arjefm-66	159	25	d	d	NOUN
arjefm-66	159	26	and	and	CCONJ
arjefm-66	159	27	p	p	X
arjefm-66	159	28	,	,	PUNCT
arjefm-66	159	29	which	which	PRON
arjefm-66	159	30	is	be	AUX
arjefm-66	159	31	∆z	∆z	PROPN
arjefm-66	159	32	.	.	PUNCT
arjefm-66	159	33	table	table	NOUN
arjefm-66	159	34	3	3	NUM
arjefm-66	159	35	:	:	PUNCT
arjefm-66	159	36	menu	menu	NOUN
arjefm-66	159	37	costs	cost	NOUN
arjefm-66	159	38	as	as	ADP
arjefm-66	159	39	a	a	DET
arjefm-66	159	40	percentage	percentage	NOUN
arjefm-66	159	41	of	of	ADP
arjefm-66	159	42	revenues	revenue	NOUN
arjefm-66	159	43	at	at	ADP
arjefm-66	159	44	end	end	NOUN
arjefm-66	159	45	of	of	ADP
arjefm-66	159	46	credit	credit	NOUN
arjefm-66	159	47	period	period	NOUN
arjefm-66	159	48	(	(	PUNCT
arjefm-66	159	49	day	day	NOUN
arjefm-66	159	50	n2	n2	ADJ
arjefm-66	159	51	)	)	PUNCT
arjefm-66	160	1	k	k	PROPN
arjefm-66	160	2	menu	menu	NOUN
arjefm-66	160	3	costs	cost	NOUN
arjefm-66	160	4	(	(	PUNCT
arjefm-66	160	5	%	%	NOUN
arjefm-66	160	6	of	of	ADP
arjefm-66	160	7	revenues	revenue	NOUN
arjefm-66	160	8	)	)	PUNCT
arjefm-66	161	1	k	k	PROPN
arjefm-66	161	2	menu	menu	NOUN
arjefm-66	161	3	costs	cost	NOUN
arjefm-66	161	4	(	(	PUNCT
arjefm-66	161	5	%	%	NOUN
arjefm-66	161	6	of	of	ADP
arjefm-66	161	7	revenues	revenue	NOUN
arjefm-66	161	8	)	)	PUNCT
arjefm-66	161	9	5	5	NUM
arjefm-66	161	10	%	%	NOUN
arjefm-66	161	11	0.0437	0.0437	NUM
arjefm-66	161	12	%	%	NOUN
arjefm-66	161	13	28	28	NUM
arjefm-66	161	14	%	%	NOUN
arjefm-66	161	15	0.0444	0.0444	NUM
arjefm-66	161	16	%	%	NOUN
arjefm-66	161	17	10	10	NUM
arjefm-66	161	18	%	%	NOUN
arjefm-66	161	19	0.0438	0.0438	NUM
arjefm-66	161	20	%	%	NOUN
arjefm-66	161	21	29	29	NUM
arjefm-66	161	22	%	%	NOUN
arjefm-66	161	23	0.0444	0.0444	NUM
arjefm-66	161	24	%	%	NOUN
arjefm-66	161	25	15	15	NUM
arjefm-66	161	26	%	%	NOUN
arjefm-66	161	27	0.0440	0.0440	NUM
arjefm-66	161	28	%	%	NOUN
arjefm-66	161	29	30	30	NUM
arjefm-66	161	30	%	%	NOUN
arjefm-66	161	31	0.0445	0.0445	NUM
arjefm-66	161	32	%	%	NOUN
arjefm-66	161	33	20	20	NUM
arjefm-66	161	34	%	%	NOUN
arjefm-66	161	35	0.0442	0.0442	NUM
arjefm-66	161	36	%	%	NOUN
arjefm-66	161	37	31	31	NUM
arjefm-66	161	38	%	%	NOUN
arjefm-66	161	39	0.0445	0.0445	NUM
arjefm-66	161	40	%	%	NOUN
arjefm-66	161	41	21	21	NUM
arjefm-66	161	42	%	%	NOUN
arjefm-66	161	43	0.0442	0.0442	NUM
arjefm-66	161	44	%	%	NOUN
arjefm-66	161	45	32	32	NUM
arjefm-66	161	46	%	%	NOUN
arjefm-66	161	47	0.0445	0.0445	NUM
arjefm-66	161	48	%	%	NOUN
arjefm-66	161	49	25	25	NUM
arjefm-66	161	50	%	%	NOUN
arjefm-66	161	51	0.0443	0.0443	NUM
arjefm-66	161	52	%	%	NOUN
arjefm-66	161	53	36	36	NUM
arjefm-66	161	54	%	%	NOUN
arjefm-66	161	55	0.0446	0.0446	NUM
arjefm-66	161	56	%	%	NOUN
arjefm-66	161	57	27	27	NUM
arjefm-66	161	58	%	%	NOUN
arjefm-66	161	59	0.0444	0.0444	NUM
arjefm-66	161	60	%	%	NOUN
arjefm-66	161	61	47	47	NUM
arjefm-66	161	62	%	%	NOUN
arjefm-66	161	63	0.0449	0.0449	NUM
arjefm-66	161	64	%	%	NOUN
arjefm-66	161	65	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-66	161	66	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-66	161	67	american	american	PROPN
arjefm-66	161	68	research	research	PROPN
arjefm-66	161	69	journal	journal	PROPN
arjefm-66	161	70	of	of	ADP
arjefm-66	161	71	economics	economic	NOUN
arjefm-66	161	72	,	,	PUNCT
arjefm-66	161	73	finance	finance	NOUN
arjefm-66	161	74	and	and	CCONJ
arjefm-66	161	75	management	management	NOUN
arjefm-66	161	76	volume	volume	NOUN
arjefm-66	161	77	10	10	NUM
arjefm-66	161	78	issue	issue	NOUN
arjefm-66	161	79	2	2	NUM
arjefm-66	161	80	,	,	PUNCT
arjefm-66	161	81	april	april	PROPN
arjefm-66	161	82	-	-	PUNCT
arjefm-66	161	83	june	june	PROPN
arjefm-66	161	84	2022	2022	PROPN
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arjefm-66	168	43	%	%	NOUN
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arjefm-66	168	51	%	%	NOUN
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arjefm-66	176	44	%	%	NOUN
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arjefm-66	176	46	,	,	PUNCT
arjefm-66	176	47	$	$	SYM
arjefm-66	176	48	2.459	2.459	NUM
arjefm-66	176	49	0.0060	0.0060	NUM
arjefm-66	176	50	%	%	NOUN
arjefm-66	176	51	0.0057	0.0057	NUM
arjefm-66	176	52	%	%	NOUN
arjefm-66	176	53	0.0117	0.0117	NUM
arjefm-66	176	54	%	%	NOUN
arjefm-66	176	55	30	30	NUM
arjefm-66	176	56	%	%	NOUN
arjefm-66	176	57	0.0071	0.0071	NUM
arjefm-66	176	58	,	,	PUNCT
arjefm-66	176	59	$	$	SYM
arjefm-66	176	60	2.475	2.475	NUM
arjefm-66	176	61	0.0164	0.0164	NUM
arjefm-66	176	62	%	%	NOUN
arjefm-66	176	63	0.0147	0.0147	NUM
arjefm-66	176	64	%	%	NOUN
arjefm-66	176	65	0.0311	0.0311	NUM
arjefm-66	176	66	%	%	NOUN
arjefm-66	176	67	36	36	NUM
arjefm-66	176	68	%	%	NOUN
arjefm-66	176	69	0.0074	0.0074	NUM
arjefm-66	176	70	,	,	PUNCT
arjefm-66	176	71	$	$	SYM
arjefm-66	176	72	2.484	2.484	NUM
arjefm-66	176	73	0.0250	0.0250	NUM
arjefm-66	176	74	%	%	NOUN
arjefm-66	176	75	0.0217	0.0217	NUM
arjefm-66	176	76	%	%	NOUN
arjefm-66	176	77	0.0467	0.0467	NUM
arjefm-66	176	78	%	%	NOUN
arjefm-66	176	79	2	2	NUM
arjefm-66	176	80	47	47	NUM
arjefm-66	176	81	%	%	NOUN
arjefm-66	176	82	0.0081	0.0081	NUM
arjefm-66	176	83	,	,	PUNCT
arjefm-66	176	84	$	$	SYM
arjefm-66	176	85	2.499	2.499	NUM
arjefm-66	176	86	0.0452	0.0452	NUM
arjefm-66	176	87	%	%	NOUN
arjefm-66	176	88	1	1	NUM
arjefm-66	176	89	0.0367	0.0367	NUM
arjefm-66	176	90	%	%	NOUN
arjefm-66	176	91	0.0819	0.0819	NUM
arjefm-66	176	92	%	%	NOUN
arjefm-66	176	93	2	2	NUM
arjefm-66	176	94	although	although	SCONJ
arjefm-66	176	95	uncommon	uncommon	ADJ
arjefm-66	176	96	in	in	ADP
arjefm-66	176	97	the	the	DET
arjefm-66	176	98	united	united	PROPN
arjefm-66	176	99	states	states	PROPN
arjefm-66	176	100	in	in	ADP
arjefm-66	176	101	recent	recent	ADJ
arjefm-66	176	102	decades	decade	NOUN
arjefm-66	176	103	with	with	ADP
arjefm-66	176	104	historically	historically	ADV
arjefm-66	176	105	low	low	ADJ
arjefm-66	176	106	inflation	inflation	NOUN
arjefm-66	176	107	,	,	PUNCT
arjefm-66	176	108	absolute	absolute	ADJ
arjefm-66	176	109	shortterm	shortterm	NOUN
arjefm-66	176	110	rate	rate	NOUN
arjefm-66	176	111	changes	change	NOUN
arjefm-66	176	112	over	over	ADP
arjefm-66	176	113	15	15	NUM
arjefm-66	176	114	%	%	NOUN
arjefm-66	176	115	could	could	AUX
arjefm-66	176	116	be	be	AUX
arjefm-66	176	117	recent	recent	ADJ
arjefm-66	176	118	phenomena	phenomenon	NOUN
arjefm-66	176	119	in	in	ADP
arjefm-66	176	120	some	some	DET
arjefm-66	176	121	countries	country	NOUN
arjefm-66	176	122	,	,	PUNCT
arjefm-66	176	123	explaining	explain	VERB
arjefm-66	176	124	world	world	NOUN
arjefm-66	176	125	bank	bank	PROPN
arjefm-66	176	126	survey	survey	NOUN
arjefm-66	176	127	evidence	evidence	NOUN
arjefm-66	176	128	that	that	SCONJ
arjefm-66	176	129	trade	trade	NOUN
arjefm-66	176	130	credit	credit	NOUN
arjefm-66	176	131	fluctuates	fluctuate	VERB
arjefm-66	176	132	more	more	ADV
arjefm-66	176	133	in	in	ADP
arjefm-66	176	134	such	such	ADJ
arjefm-66	176	135	countries	country	NOUN
arjefm-66	176	136	.	.	PUNCT
arjefm-66	177	1	for	for	ADP
arjefm-66	177	2	example	example	NOUN
arjefm-66	177	3	,	,	PUNCT
arjefm-66	177	4	the	the	DET
arjefm-66	177	5	world	world	NOUN
arjefm-66	177	6	bank	bank	PROPN
arjefm-66	177	7	has	have	AUX
arjefm-66	177	8	survey	survey	VERB
arjefm-66	177	9	evidence	evidence	NOUN
arjefm-66	177	10	that	that	SCONJ
arjefm-66	177	11	trade	trade	NOUN
arjefm-66	177	12	credit	credit	NOUN
arjefm-66	177	13	fluctuated	fluctuate	VERB
arjefm-66	177	14	significantly	significantly	ADV
arjefm-66	177	15	after	after	ADP
arjefm-66	177	16	financial	financial	ADJ
arjefm-66	177	17	crises	crisis	NOUN
arjefm-66	177	18	in	in	ADP
arjefm-66	177	19	developing	develop	VERB
arjefm-66	177	20	countries	country	NOUN
arjefm-66	177	21	when	when	SCONJ
arjefm-66	177	22	short	short	ADJ
arjefm-66	177	23	-	-	PUNCT
arjefm-66	177	24	term	term	NOUN
arjefm-66	177	25	interest	interest	NOUN
arjefm-66	177	26	rates	rate	NOUN
arjefm-66	177	27	fluctuated	fluctuate	VERB
arjefm-66	177	28	between	between	ADP
arjefm-66	177	29	9	9	NUM
arjefm-66	177	30	and	and	CCONJ
arjefm-66	177	31	44	44	NUM
arjefm-66	177	32	percentage	percentage	NOUN
arjefm-66	177	33	points	point	NOUN
arjefm-66	177	34	over	over	ADP
arjefm-66	177	35	a	a	DET
arjefm-66	177	36	month	month	NOUN
arjefm-66	177	37	.	.	PUNCT
arjefm-66	178	1	5	5	X
arjefm-66	178	2	.	.	X
arjefm-66	178	3	conclusion	conclusion	NOUN
arjefm-66	178	4	in	in	ADP
arjefm-66	178	5	this	this	DET
arjefm-66	178	6	paper	paper	NOUN
arjefm-66	178	7	,	,	PUNCT
arjefm-66	178	8	numerical	numerical	ADJ
arjefm-66	178	9	computations	computation	NOUN
arjefm-66	178	10	showed	show	VERB
arjefm-66	178	11	that	that	SCONJ
arjefm-66	178	12	credit	credit	NOUN
arjefm-66	178	13	terms	term	NOUN
arjefm-66	178	14	and	and	CCONJ
arjefm-66	178	15	product	product	NOUN
arjefm-66	178	16	prices	price	NOUN
arjefm-66	178	17	are	be	AUX
arjefm-66	178	18	stable	stable	ADJ
arjefm-66	178	19	even	even	ADV
arjefm-66	178	20	with	with	ADP
arjefm-66	178	21	large	large	ADJ
arjefm-66	178	22	changes	change	NOUN
arjefm-66	178	23	in	in	ADP
arjefm-66	178	24	macroeconomic	macroeconomic	ADJ
arjefm-66	178	25	interest	interest	NOUN
arjefm-66	178	26	rates	rate	NOUN
arjefm-66	178	27	.	.	PUNCT
arjefm-66	179	1	using	use	VERB
arjefm-66	179	2	a	a	DET
arjefm-66	179	3	menu	menu	NOUN
arjefm-66	179	4	cost	cost	NOUN
arjefm-66	179	5	estimate	estimate	NOUN
arjefm-66	179	6	by	by	ADP
arjefm-66	179	7	zbaracki	zbaracki	PROPN
arjefm-66	179	8	et	et	PROPN
arjefm-66	179	9	al	al	PROPN
arjefm-66	179	10	.	.	PROPN
arjefm-66	180	1	(	(	PUNCT
arjefm-66	180	2	2004	2004	NUM
arjefm-66	180	3	)	)	PUNCT
arjefm-66	180	4	of	of	ADP
arjefm-66	180	5	just	just	ADV
arjefm-66	180	6	0.0435	0.0435	NUM
arjefm-66	180	7	%	%	NOUN
arjefm-66	180	8	of	of	ADP
arjefm-66	180	9	revenues	revenue	NOUN
arjefm-66	180	10	,	,	PUNCT
arjefm-66	180	11	it	it	PRON
arjefm-66	180	12	would	would	AUX
arjefm-66	180	13	require	require	VERB
arjefm-66	180	14	an	an	DET
arjefm-66	180	15	increase	increase	NOUN
arjefm-66	180	16	in	in	ADP
arjefm-66	180	17	short	short	ADJ
arjefm-66	180	18	-	-	PUNCT
arjefm-66	180	19	term	term	NOUN
arjefm-66	180	20	interest	interest	NOUN
arjefm-66	180	21	rates	rate	NOUN
arjefm-66	180	22	from	from	ADP
arjefm-66	180	23	5	5	NUM
arjefm-66	180	24	%	%	NOUN
arjefm-66	180	25	to	to	ADP
arjefm-66	180	26	over	over	ADP
arjefm-66	180	27	20	20	NUM
arjefm-66	180	28	%	%	NOUN
arjefm-66	180	29	for	for	ADP
arjefm-66	180	30	the	the	DET
arjefm-66	180	31	benefits	benefit	NOUN
arjefm-66	180	32	of	of	ADP
arjefm-66	180	33	increasing	increase	VERB
arjefm-66	180	34	trade	trade	NOUN
arjefm-66	180	35	credit	credit	NOUN
arjefm-66	180	36	interest	interest	NOUN
arjefm-66	180	37	rates	rate	NOUN
arjefm-66	180	38	and	and	CCONJ
arjefm-66	180	39	product	product	NOUN
arjefm-66	180	40	prices	price	NOUN
arjefm-66	180	41	to	to	PART
arjefm-66	180	42	outweigh	outweigh	VERB
arjefm-66	180	43	the	the	DET
arjefm-66	180	44	menu	menu	NOUN
arjefm-66	180	45	costs	cost	NOUN
arjefm-66	180	46	.	.	PUNCT
arjefm-66	181	1	although	although	SCONJ
arjefm-66	181	2	uncommon	uncommon	ADJ
arjefm-66	181	3	in	in	ADP
arjefm-66	181	4	the	the	DET
arjefm-66	181	5	united	united	PROPN
arjefm-66	181	6	states	states	PROPN
arjefm-66	181	7	in	in	ADP
arjefm-66	181	8	recent	recent	ADJ
arjefm-66	181	9	decades	decade	NOUN
arjefm-66	181	10	with	with	ADP
arjefm-66	181	11	historically	historically	ADV
arjefm-66	181	12	low	low	ADJ
arjefm-66	181	13	inflation	inflation	NOUN
arjefm-66	181	14	,	,	PUNCT
arjefm-66	181	15	absolute	absolute	ADJ
arjefm-66	181	16	mailto:contact@americaserial.com	mailto:contact@americaserial.com	X
arjefm-66	181	17	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-66	181	18	american	american	PROPN
arjefm-66	181	19	research	research	PROPN
arjefm-66	181	20	journal	journal	PROPN
arjefm-66	181	21	of	of	ADP
arjefm-66	181	22	economics	economic	NOUN
arjefm-66	181	23	,	,	PUNCT
arjefm-66	181	24	finance	finance	NOUN
arjefm-66	181	25	and	and	CCONJ
arjefm-66	181	26	management	management	NOUN
arjefm-66	181	27	volume	volume	NOUN
arjefm-66	181	28	10	10	NUM
arjefm-66	181	29	issue	issue	NOUN
arjefm-66	181	30	2	2	NUM
arjefm-66	181	31	,	,	PUNCT
arjefm-66	181	32	april	april	PROPN
arjefm-66	181	33	-	-	PUNCT
arjefm-66	181	34	june	june	PROPN
arjefm-66	181	35	2022	2022	PROPN
arjefm-66	181	36	issn	issn	PROPN
arjefm-66	181	37	:	:	PUNCT
arjefm-66	181	38	2836	2836	NUM
arjefm-66	181	39	-	-	SYM
arjefm-66	181	40	9416	9416	NUM
arjefm-66	181	41	impact	impact	NOUN
arjefm-66	181	42	factor	factor	NOUN
arjefm-66	181	43	:	:	PUNCT
arjefm-66	181	44	4.85	4.85	NUM
arjefm-66	181	45	journal	journal	NOUN
arjefm-66	181	46	homepage	homepage	NOUN
arjefm-66	181	47	:	:	PUNCT
arjefm-66	181	48	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-66	181	49	,	,	PUNCT
arjefm-66	181	50	email	email	NOUN
arjefm-66	181	51	:	:	PUNCT
arjefm-66	181	52	contact@americaserial.com	contact@americaserial.com	PROPN
arjefm-66	181	53	official	official	ADJ
arjefm-66	181	54	journal	journal	PROPN
arjefm-66	181	55	of	of	ADP
arjefm-66	181	56	america	america	PROPN
arjefm-66	181	57	serial	serial	PROPN
arjefm-66	181	58	publication	publication	NOUN
arjefm-66	181	59	american	american	PROPN
arjefm-66	181	60	research	research	PROPN
arjefm-66	181	61	journal	journal	PROPN
arjefm-66	181	62	of	of	ADP
arjefm-66	181	63	economics	economic	NOUN
arjefm-66	181	64	,	,	PUNCT
arjefm-66	181	65	finance	finance	NOUN
arjefm-66	181	66	and	and	CCONJ
arjefm-66	181	67	management	management	NOUN
arjefm-66	181	68	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-66	181	69	,	,	PUNCT
arjefm-66	181	70	email	email	NOUN
arjefm-66	181	71	:	:	PUNCT
arjefm-66	181	72	contact@americaserial.com	contact@americaserial.com	X
arjefm-66	182	1	52	52	NUM
arjefm-66	183	1	|	|	ADV
arjefm-66	183	2	p	p	X
arjefm-66	183	3	a	a	DET
arjefm-66	183	4	g	g	NOUN
arjefm-66	183	5	e	e	X
arjefm-66	183	6	short	short	ADJ
arjefm-66	183	7	-	-	PUNCT
arjefm-66	183	8	term	term	NOUN
arjefm-66	183	9	rate	rate	NOUN
arjefm-66	183	10	changes	change	NOUN
arjefm-66	183	11	over	over	ADP
arjefm-66	183	12	15	15	NUM
arjefm-66	183	13	%	%	NOUN
arjefm-66	183	14	could	could	AUX
arjefm-66	183	15	be	be	AUX
arjefm-66	183	16	recent	recent	ADJ
arjefm-66	183	17	phenomena	phenomenon	NOUN
arjefm-66	183	18	in	in	ADP
arjefm-66	183	19	some	some	DET
arjefm-66	183	20	countries	country	NOUN
arjefm-66	183	21	,	,	PUNCT
arjefm-66	183	22	explaining	explain	VERB
arjefm-66	183	23	world	world	NOUN
arjefm-66	183	24	bank	bank	PROPN
arjefm-66	183	25	survey	survey	NOUN
arjefm-66	183	26	evidence	evidence	NOUN
arjefm-66	183	27	that	that	SCONJ
arjefm-66	183	28	trade	trade	NOUN
arjefm-66	183	29	credit	credit	NOUN
arjefm-66	183	30	fluctuates	fluctuate	VERB
arjefm-66	183	31	more	more	ADV
arjefm-66	183	32	in	in	ADP
arjefm-66	183	33	such	such	ADJ
arjefm-66	183	34	countries	country	NOUN
arjefm-66	183	35	(	(	PUNCT
arjefm-66	183	36	e.g.	e.g.	ADV
arjefm-66	183	37	,	,	PUNCT
arjefm-66	183	38	indonesia	indonesia	PROPN
arjefm-66	183	39	,	,	PUNCT
arjefm-66	183	40	south	south	PROPN
arjefm-66	183	41	korea	korea	PROPN
arjefm-66	183	42	and	and	CCONJ
arjefm-66	183	43	thailand	thailand	PROPN
arjefm-66	183	44	in	in	ADP
arjefm-66	183	45	the	the	DET
arjefm-66	183	46	asian	asian	ADJ
arjefm-66	183	47	financial	financial	ADJ
arjefm-66	183	48	crisis	crisis	NOUN
arjefm-66	183	49	of	of	ADP
arjefm-66	183	50	the	the	DET
arjefm-66	183	51	late	late	ADJ
arjefm-66	183	52	1990s	1990s	NUM
arjefm-66	183	53	)	)	PUNCT
arjefm-66	183	54	.	.	PUNCT
arjefm-66	184	1	this	this	DET
arjefm-66	184	2	finding	finding	NOUN
arjefm-66	184	3	led	lead	VERB
arjefm-66	184	4	to	to	ADP
arjefm-66	184	5	our	our	PRON
arjefm-66	184	6	main	main	ADJ
arjefm-66	184	7	conclusion	conclusion	NOUN
arjefm-66	184	8	that	that	SCONJ
arjefm-66	184	9	the	the	DET
arjefm-66	184	10	empirical	empirical	ADJ
arjefm-66	184	11	phenomena	phenomenon	NOUN
arjefm-66	184	12	of	of	ADP
arjefm-66	184	13	credit	credit	NOUN
arjefm-66	184	14	terms	term	NOUN
arjefm-66	184	15	and	and	CCONJ
arjefm-66	184	16	product	product	NOUN
arjefm-66	184	17	prices	price	NOUN
arjefm-66	184	18	being	be	AUX
arjefm-66	184	19	stable	stable	ADJ
arjefm-66	184	20	over	over	ADP
arjefm-66	184	21	time	time	NOUN
arjefm-66	184	22	(	(	PUNCT
arjefm-66	184	23	in	in	ADP
arjefm-66	184	24	the	the	DET
arjefm-66	184	25	united	united	PROPN
arjefm-66	184	26	states	states	PROPN
arjefm-66	184	27	in	in	ADP
arjefm-66	184	28	recent	recent	ADJ
arjefm-66	184	29	decades	decade	NOUN
arjefm-66	184	30	)	)	PUNCT
arjefm-66	184	31	and	and	CCONJ
arjefm-66	184	32	of	of	ADP
arjefm-66	184	33	the	the	DET
arjefm-66	184	34	meltzer	meltzer	PROPN
arjefm-66	184	35	(	(	PUNCT
arjefm-66	184	36	1960	1960	NUM
arjefm-66	184	37	)	)	PUNCT
arjefm-66	184	38	effect	effect	NOUN
arjefm-66	184	39	could	could	AUX
arjefm-66	184	40	be	be	AUX
arjefm-66	184	41	rationalized	rationalize	VERB
arjefm-66	184	42	by	by	ADP
arjefm-66	184	43	assuming	assume	VERB
arjefm-66	184	44	that	that	SCONJ
arjefm-66	184	45	firms	firm	NOUN
arjefm-66	184	46	set	set	VERB
arjefm-66	184	47	credit	credit	NOUN
arjefm-66	184	48	terms	term	NOUN
arjefm-66	184	49	to	to	PART
arjefm-66	184	50	maximize	maximize	VERB
arjefm-66	184	51	npv	npv	NOUN
arjefm-66	184	52	and	and	CCONJ
arjefm-66	184	53	take	take	VERB
arjefm-66	184	54	menu	menu	NOUN
arjefm-66	184	55	costs	cost	NOUN
arjefm-66	184	56	into	into	ADP
arjefm-66	184	57	account	account	NOUN
arjefm-66	184	58	.	.	PUNCT
arjefm-66	185	1	our	our	PRON
arjefm-66	185	2	results	result	NOUN
arjefm-66	185	3	on	on	ADP
arjefm-66	185	4	credit	credit	NOUN
arjefm-66	185	5	policy	policy	NOUN
arjefm-66	185	6	have	have	VERB
arjefm-66	185	7	some	some	DET
arjefm-66	185	8	commonality	commonality	NOUN
arjefm-66	185	9	with	with	ADP
arjefm-66	185	10	the	the	DET
arjefm-66	185	11	literature	literature	NOUN
arjefm-66	185	12	on	on	ADP
arjefm-66	185	13	exchange	exchange	NOUN
arjefm-66	185	14	rate	rate	NOUN
arjefm-66	185	15	pass	pass	NOUN
arjefm-66	185	16	-	-	PUNCT
arjefm-66	185	17	throughs	throughs	NOUN
arjefm-66	185	18	.	.	PUNCT
arjefm-66	186	1	in	in	ADP
arjefm-66	186	2	the	the	DET
arjefm-66	186	3	early	early	ADJ
arjefm-66	186	4	years	year	NOUN
arjefm-66	186	5	of	of	ADP
arjefm-66	186	6	floating	float	VERB
arjefm-66	186	7	exchange	exchange	NOUN
arjefm-66	186	8	rates	rate	NOUN
arjefm-66	186	9	,	,	PUNCT
arjefm-66	186	10	economists	economist	NOUN
arjefm-66	186	11	expected	expect	VERB
arjefm-66	186	12	to	to	PART
arjefm-66	186	13	find	find	VERB
arjefm-66	186	14	a	a	DET
arjefm-66	186	15	close	close	ADJ
arjefm-66	186	16	association	association	NOUN
arjefm-66	186	17	between	between	ADP
arjefm-66	186	18	movements	movement	NOUN
arjefm-66	186	19	in	in	ADP
arjefm-66	186	20	exchange	exchange	NOUN
arjefm-66	186	21	rates	rate	NOUN
arjefm-66	186	22	and	and	CCONJ
arjefm-66	186	23	national	national	ADJ
arjefm-66	186	24	price	price	NOUN
arjefm-66	186	25	levels	level	NOUN
arjefm-66	186	26	.	.	PUNCT
arjefm-66	187	1	based	base	VERB
arjefm-66	187	2	on	on	ADP
arjefm-66	187	3	purchasing	purchase	VERB
arjefm-66	187	4	-	-	PUNCT
arjefm-66	187	5	power	power	NOUN
arjefm-66	187	6	parity	parity	NOUN
arjefm-66	187	7	,	,	PUNCT
arjefm-66	187	8	it	it	PRON
arjefm-66	187	9	was	be	AUX
arjefm-66	187	10	felt	feel	VERB
arjefm-66	187	11	that	that	SCONJ
arjefm-66	187	12	control	control	NOUN
arjefm-66	187	13	of	of	ADP
arjefm-66	187	14	domestic	domestic	ADJ
arjefm-66	187	15	inflation	inflation	NOUN
arjefm-66	187	16	would	would	AUX
arjefm-66	187	17	become	become	VERB
arjefm-66	187	18	more	more	ADV
arjefm-66	187	19	problematic	problematic	ADJ
arjefm-66	187	20	in	in	ADP
arjefm-66	187	21	an	an	DET
arjefm-66	187	22	environment	environment	NOUN
arjefm-66	187	23	of	of	ADP
arjefm-66	187	24	exchange	exchange	NOUN
arjefm-66	187	25	rate	rate	NOUN
arjefm-66	187	26	volatility	volatility	NOUN
arjefm-66	187	27	.	.	PUNCT
arjefm-66	188	1	however	however	ADV
arjefm-66	188	2	,	,	PUNCT
arjefm-66	188	3	a	a	DET
arjefm-66	188	4	substantial	substantial	ADJ
arjefm-66	188	5	literature	literature	NOUN
arjefm-66	188	6	,	,	PUNCT
arjefm-66	188	7	covering	cover	VERB
arjefm-66	188	8	many	many	ADJ
arjefm-66	188	9	countries	country	NOUN
arjefm-66	188	10	,	,	PUNCT
arjefm-66	188	11	has	have	AUX
arjefm-66	188	12	documented	document	VERB
arjefm-66	188	13	that	that	SCONJ
arjefm-66	188	14	exchange	exchange	NOUN
arjefm-66	188	15	rate	rate	NOUN
arjefm-66	188	16	changes	change	NOUN
arjefm-66	188	17	are	be	AUX
arjefm-66	188	18	,	,	PUNCT
arjefm-66	188	19	at	at	ADP
arjefm-66	188	20	best	good	ADJ
arjefm-66	188	21	,	,	PUNCT
arjefm-66	188	22	weakly	weakly	ADV
arjefm-66	188	23	associated	associate	VERB
arjefm-66	188	24	with	with	ADP
arjefm-66	188	25	changes	change	NOUN
arjefm-66	188	26	in	in	ADP
arjefm-66	188	27	domestic	domestic	ADJ
arjefm-66	188	28	prices	price	NOUN
arjefm-66	188	29	at	at	ADP
arjefm-66	188	30	the	the	DET
arjefm-66	188	31	consumer	consumer	NOUN
arjefm-66	188	32	level	level	NOUN
arjefm-66	188	33	.	.	PUNCT
arjefm-66	189	1	the	the	DET
arjefm-66	189	2	low	low	ADJ
arjefm-66	189	3	-	-	PUNCT
arjefm-66	189	4	degree	degree	NOUN
arjefm-66	189	5	of	of	ADP
arjefm-66	189	6	“	"	PUNCT
arjefm-66	189	7	exchange	exchange	NOUN
arjefm-66	189	8	rate	rate	NOUN
arjefm-66	189	9	pass	pass	NOUN
arjefm-66	189	10	-	-	PUNCT
arjefm-66	189	11	through	through	NOUN
arjefm-66	189	12	”	"	PUNCT
arjefm-66	189	13	both	both	CCONJ
arjefm-66	189	14	at	at	ADP
arjefm-66	189	15	the	the	DET
arjefm-66	189	16	disaggregated	disaggregate	VERB
arjefm-66	189	17	level	level	NOUN
arjefm-66	189	18	,	,	PUNCT
arjefm-66	189	19	for	for	ADP
arjefm-66	189	20	individual	individual	ADJ
arjefm-66	189	21	traded	trade	VERB
arjefm-66	189	22	goods	good	NOUN
arjefm-66	189	23	prices	price	NOUN
arjefm-66	189	24	,	,	PUNCT
arjefm-66	189	25	and	and	CCONJ
arjefm-66	189	26	more	more	ADV
arjefm-66	189	27	generally	generally	ADV
arjefm-66	189	28	,	,	PUNCT
arjefm-66	189	29	in	in	ADP
arjefm-66	189	30	aggregate	aggregate	ADJ
arjefm-66	189	31	price	price	NOUN
arjefm-66	189	32	indexes	index	NOUN
arjefm-66	189	33	,	,	PUNCT
arjefm-66	189	34	has	have	AUX
arjefm-66	189	35	been	be	AUX
arjefm-66	189	36	extensively	extensively	ADV
arjefm-66	189	37	documented	document	VERB
arjefm-66	189	38	.	.	PUNCT
arjefm-66	190	1	(	(	PUNCT
arjefm-66	190	2	devereux	devereux	PROPN
arjefm-66	190	3	and	and	CCONJ
arjefm-66	190	4	yetman	yetman	NOUN
arjefm-66	190	5	,	,	PUNCT
arjefm-66	190	6	2002	2002	NUM
arjefm-66	190	7	,	,	PUNCT
arjefm-66	190	8	p.347	p.347	NOUN
arjefm-66	190	9	)	)	PUNCT
arjefm-66	190	10	.	.	PUNCT
arjefm-66	191	1	this	this	PRON
arjefm-66	191	2	led	lead	VERB
arjefm-66	191	3	devereux	devereux	PROPN
arjefm-66	191	4	and	and	CCONJ
arjefm-66	191	5	yetman	yetman	PROPN
arjefm-66	191	6	(	(	PUNCT
arjefm-66	191	7	2002	2002	NUM
arjefm-66	191	8	)	)	PUNCT
arjefm-66	191	9	to	to	PART
arjefm-66	191	10	develop	develop	VERB
arjefm-66	191	11	a	a	DET
arjefm-66	191	12	simple	simple	ADJ
arjefm-66	191	13	theoretical	theoretical	ADJ
arjefm-66	191	14	model	model	NOUN
arjefm-66	191	15	of	of	ADP
arjefm-66	191	16	endogenous	endogenous	ADJ
arjefm-66	191	17	exchange	exchange	NOUN
arjefm-66	191	18	rate	rate	NOUN
arjefm-66	191	19	pass	pass	NOUN
arjefm-66	191	20	-	-	PUNCT
arjefm-66	191	21	through	through	NOUN
arjefm-66	191	22	that	that	PRON
arjefm-66	191	23	focuses	focus	VERB
arjefm-66	191	24	exclusively	exclusively	ADV
arjefm-66	191	25	on	on	ADP
arjefm-66	191	26	the	the	DET
arjefm-66	191	27	role	role	NOUN
arjefm-66	191	28	of	of	ADP
arjefm-66	191	29	price	price	NOUN
arjefm-66	191	30	rigidities	rigidity	NOUN
arjefm-66	191	31	that	that	PRON
arjefm-66	191	32	come	come	VERB
arjefm-66	191	33	about	about	ADP
arjefm-66	191	34	because	because	SCONJ
arjefm-66	191	35	of	of	ADP
arjefm-66	191	36	the	the	DET
arjefm-66	191	37	presence	presence	NOUN
arjefm-66	191	38	of	of	ADP
arjefm-66	191	39	“	"	PUNCT
arjefm-66	191	40	menu	menu	NOUN
arjefm-66	191	41	costs	cost	NOUN
arjefm-66	191	42	”	"	PUNCT
arjefm-66	191	43	.	.	PUNCT
arjefm-66	192	1	in	in	ADP
arjefm-66	192	2	their	their	PRON
arjefm-66	192	3	model	model	NOUN
arjefm-66	192	4	calibration	calibration	NOUN
arjefm-66	192	5	,	,	PUNCT
arjefm-66	192	6	they	they	PRON
arjefm-66	192	7	find	find	VERB
arjefm-66	192	8	that	that	SCONJ
arjefm-66	192	9	for	for	ADP
arjefm-66	192	10	annual	annual	ADJ
arjefm-66	192	11	rates	rate	NOUN
arjefm-66	192	12	of	of	ADP
arjefm-66	192	13	inflation	inflation	NOUN
arjefm-66	192	14	higher	high	ADJ
arjefm-66	192	15	than	than	ADP
arjefm-66	192	16	25	25	NUM
arjefm-66	192	17	percent	percent	NOUN
arjefm-66	192	18	,	,	PUNCT
arjefm-66	192	19	firms	firm	NOUN
arjefm-66	192	20	will	will	AUX
arjefm-66	192	21	adjust	adjust	VERB
arjefm-66	192	22	prices	price	NOUN
arjefm-66	192	23	every	every	DET
arjefm-66	192	24	period	period	NOUN
arjefm-66	192	25	so	so	SCONJ
arjefm-66	192	26	price	price	NOUN
arjefm-66	192	27	rigidity	rigidity	NOUN
arjefm-66	192	28	disappears	disappear	VERB
arjefm-66	192	29	completely	completely	ADV
arjefm-66	192	30	.	.	PUNCT
arjefm-66	193	1	in	in	ADP
arjefm-66	193	2	that	that	DET
arjefm-66	193	3	case	case	NOUN
arjefm-66	193	4	,	,	PUNCT
arjefm-66	193	5	the	the	DET
arjefm-66	193	6	pass	pass	NOUN
arjefm-66	193	7	-	-	PUNCT
arjefm-66	193	8	through	through	NOUN
arjefm-66	193	9	from	from	ADP
arjefm-66	193	10	exchange	exchange	NOUN
arjefm-66	193	11	rate	rate	NOUN
arjefm-66	193	12	changes	change	NOUN
arjefm-66	193	13	to	to	ADP
arjefm-66	193	14	prices	price	NOUN
arjefm-66	193	15	is	be	AUX
arjefm-66	193	16	complete	complete	ADJ
arjefm-66	193	17	.	.	PUNCT
arjefm-66	194	1	in	in	ADP
arjefm-66	194	2	short	short	ADJ
arjefm-66	194	3	,	,	PUNCT
arjefm-66	194	4	in	in	ADP
arjefm-66	194	5	countries	country	NOUN
arjefm-66	194	6	with	with	ADP
arjefm-66	194	7	very	very	ADV
arjefm-66	194	8	high	high	ADJ
arjefm-66	194	9	inflation	inflation	NOUN
arjefm-66	194	10	(	(	PUNCT
arjefm-66	194	11	or	or	CCONJ
arjefm-66	194	12	very	very	ADV
arjefm-66	194	13	high	high	ADJ
arjefm-66	194	14	interest	interest	NOUN
arjefm-66	194	15	rates	rate	NOUN
arjefm-66	194	16	)	)	PUNCT
arjefm-66	194	17	,	,	PUNCT
arjefm-66	194	18	prices	price	NOUN
arjefm-66	194	19	become	become	VERB
arjefm-66	194	20	essentially	essentially	ADV
arjefm-66	194	21	flexible	flexible	ADJ
arjefm-66	194	22	as	as	SCONJ
arjefm-66	194	23	the	the	DET
arjefm-66	194	24	cost	cost	NOUN
arjefm-66	194	25	to	to	ADP
arjefm-66	194	26	firms	firm	NOUN
arjefm-66	194	27	of	of	ADP
arjefm-66	194	28	maintaining	maintain	VERB
arjefm-66	194	29	fixed	fix	VERB
arjefm-66	194	30	prices	price	NOUN
arjefm-66	194	31	fully	fully	ADV
arjefm-66	194	32	offsets	offset	VERB
arjefm-66	194	33	the	the	DET
arjefm-66	194	34	menu	menu	NOUN
arjefm-66	194	35	costs	cost	NOUN
arjefm-66	194	36	.	.	PUNCT
arjefm-66	195	1	in	in	ADP
arjefm-66	195	2	our	our	PRON
arjefm-66	195	3	model	model	NOUN
arjefm-66	195	4	,	,	PUNCT
arjefm-66	195	5	firms	firm	NOUN
arjefm-66	195	6	only	only	ADV
arjefm-66	195	7	adjust	adjust	VERB
arjefm-66	195	8	credit	credit	NOUN
arjefm-66	195	9	terms	term	NOUN
arjefm-66	195	10	and	and	CCONJ
arjefm-66	195	11	product	product	NOUN
arjefm-66	195	12	prices	price	NOUN
arjefm-66	195	13	when	when	SCONJ
arjefm-66	195	14	short	short	ADJ
arjefm-66	195	15	-	-	PUNCT
arjefm-66	195	16	term	term	NOUN
arjefm-66	195	17	interest	interest	NOUN
arjefm-66	195	18	rates	rate	NOUN
arjefm-66	195	19	change	change	VERB
arjefm-66	195	20	more	more	ADJ
arjefm-66	195	21	than	than	ADP
arjefm-66	195	22	15	15	NUM
arjefm-66	195	23	percent	percent	NOUN
arjefm-66	195	24	.	.	PUNCT
arjefm-66	196	1	pass	pass	NOUN
arjefm-66	196	2	-	-	PUNCT
arjefm-66	196	3	throughs	throughs	NOUN
arjefm-66	196	4	to	to	ADP
arjefm-66	196	5	credit	credit	NOUN
arjefm-66	196	6	terms	term	NOUN
arjefm-66	196	7	and	and	CCONJ
arjefm-66	196	8	product	product	NOUN
arjefm-66	196	9	prices	price	NOUN
arjefm-66	196	10	are	be	AUX
arjefm-66	196	11	higher	high	ADJ
arjefm-66	196	12	in	in	ADP
arjefm-66	196	13	periods	period	NOUN
arjefm-66	196	14	with	with	ADP
arjefm-66	196	15	higher	high	ADJ
arjefm-66	196	16	nominal	nominal	ADJ
arjefm-66	196	17	interest	interest	NOUN
arjefm-66	196	18	rates	rate	NOUN
arjefm-66	196	19	(	(	PUNCT
arjefm-66	196	20	and	and	CCONJ
arjefm-66	196	21	thus	thus	ADV
arjefm-66	196	22	higher	high	ADJ
arjefm-66	196	23	absolute	absolute	ADJ
arjefm-66	196	24	interest	interest	NOUN
arjefm-66	196	25	rate	rate	NOUN
arjefm-66	196	26	changes	change	NOUN
arjefm-66	196	27	)	)	PUNCT
arjefm-66	196	28	.	.	PUNCT
arjefm-66	197	1	many	many	ADJ
arjefm-66	197	2	industrialized	industrialize	VERB
arjefm-66	197	3	countries	country	NOUN
arjefm-66	197	4	seemed	seem	VERB
arjefm-66	197	5	to	to	PART
arjefm-66	197	6	have	have	AUX
arjefm-66	197	7	experienced	experience	VERB
arjefm-66	197	8	a	a	DET
arjefm-66	197	9	decline	decline	NOUN
arjefm-66	197	10	in	in	ADP
arjefm-66	197	11	exchange	exchange	NOUN
arjefm-66	197	12	rate	rate	NOUN
arjefm-66	197	13	pass	pass	NOUN
arjefm-66	197	14	-	-	PUNCT
arjefm-66	197	15	through	through	NOUN
arjefm-66	197	16	to	to	ADP
arjefm-66	197	17	consumer	consumer	NOUN
arjefm-66	197	18	prices	price	NOUN
arjefm-66	197	19	in	in	ADP
arjefm-66	197	20	the	the	DET
arjefm-66	197	21	1990s	1990s	NUM
arjefm-66	197	22	,	,	PUNCT
arjefm-66	197	23	despite	despite	SCONJ
arjefm-66	197	24	large	large	ADJ
arjefm-66	197	25	exchange	exchange	NOUN
arjefm-66	197	26	rate	rate	NOUN
arjefm-66	197	27	depreciations	depreciation	NOUN
arjefm-66	197	28	in	in	ADP
arjefm-66	197	29	many	many	ADJ
arjefm-66	197	30	of	of	ADP
arjefm-66	197	31	them	they	PRON
arjefm-66	197	32	.	.	PUNCT
arjefm-66	198	1	bailliu	bailliu	NOUN
arjefm-66	198	2	and	and	CCONJ
arjefm-66	198	3	bouakez	bouakez	NOUN
arjefm-66	198	4	(	(	PUNCT
arjefm-66	198	5	2004	2004	NUM
arjefm-66	198	6	)	)	PUNCT
arjefm-66	198	7	state	state	NOUN
arjefm-66	198	8	the	the	DET
arjefm-66	198	9	fact	fact	NOUN
arjefm-66	198	10	that	that	SCONJ
arjefm-66	198	11	this	this	DET
arjefm-66	198	12	documented	document	VERB
arjefm-66	198	13	decline	decline	NOUN
arjefm-66	198	14	in	in	ADP
arjefm-66	198	15	exchange	exchange	NOUN
arjefm-66	198	16	rate	rate	NOUN
arjefm-66	198	17	pass	pass	NOUN
arjefm-66	198	18	-	-	PUNCT
arjefm-66	198	19	throughs	throughs	NOUN
arjefm-66	198	20	in	in	ADP
arjefm-66	198	21	recent	recent	ADJ
arjefm-66	198	22	years	year	NOUN
arjefm-66	198	23	coincided	coincide	VERB
arjefm-66	198	24	with	with	ADP
arjefm-66	198	25	the	the	DET
arjefm-66	198	26	lowinflation	lowinflation	NOUN
arjefm-66	198	27	period	period	NOUN
arjefm-66	198	28	that	that	PRON
arjefm-66	198	29	most	most	ADV
arjefm-66	198	30	industrialized	industrialize	VERB
arjefm-66	198	31	countries	country	NOUN
arjefm-66	198	32	have	have	AUX
arjefm-66	198	33	entered	enter	VERB
arjefm-66	198	34	and	and	CCONJ
arjefm-66	198	35	that	that	SCONJ
arjefm-66	198	36	these	these	DET
arjefm-66	198	37	two	two	NUM
arjefm-66	198	38	phenomena	phenomenon	NOUN
arjefm-66	198	39	are	be	AUX
arjefm-66	198	40	correlated	correlate	VERB
arjefm-66	198	41	.	.	PUNCT
arjefm-66	199	1	sekine	sekine	PROPN
arjefm-66	199	2	(	(	PUNCT
arjefm-66	199	3	2006	2006	NUM
arjefm-66	199	4	)	)	PUNCT
arjefm-66	199	5	finds	find	VERB
arjefm-66	199	6	that	that	SCONJ
arjefm-66	199	7	pass	pass	NOUN
arjefm-66	199	8	-	-	PUNCT
arjefm-66	199	9	throughs	throughs	NOUN
arjefm-66	199	10	have	have	AUX
arjefm-66	199	11	declined	decline	VERB
arjefm-66	199	12	over	over	ADP
arjefm-66	199	13	time	time	NOUN
arjefm-66	199	14	for	for	ADP
arjefm-66	199	15	all	all	DET
arjefm-66	199	16	his	his	PRON
arjefm-66	199	17	sample	sample	NOUN
arjefm-66	199	18	countries	country	NOUN
arjefm-66	199	19	.	.	PUNCT
arjefm-66	200	1	the	the	DET
arjefm-66	200	2	decline	decline	NOUN
arjefm-66	200	3	in	in	ADP
arjefm-66	200	4	second	second	ADJ
arjefm-66	200	5	-	-	PUNCT
arjefm-66	200	6	stage	stage	NOUN
arjefm-66	200	7	passthrough	passthrough	NOUN
arjefm-66	200	8	(	(	PUNCT
arjefm-66	200	9	from	from	ADP
arjefm-66	200	10	import	import	NOUN
arjefm-66	200	11	prices	price	NOUN
arjefm-66	200	12	to	to	ADP
arjefm-66	200	13	consumer	consumer	NOUN
arjefm-66	200	14	prices	price	NOUN
arjefm-66	200	15	)	)	PUNCT
arjefm-66	200	16	is	be	AUX
arjefm-66	200	17	associated	associate	VERB
arjefm-66	200	18	with	with	ADP
arjefm-66	200	19	the	the	DET
arjefm-66	200	20	emergence	emergence	NOUN
arjefm-66	200	21	of	of	ADP
arjefm-66	200	22	a	a	DET
arjefm-66	200	23	low	low	ADJ
arjefm-66	200	24	inflation	inflation	NOUN
arjefm-66	200	25	environment	environment	NOUN
arjefm-66	200	26	as	as	ADV
arjefm-66	200	27	well	well	ADV
arjefm-66	200	28	as	as	ADP
arjefm-66	200	29	a	a	DET
arjefm-66	200	30	rise	rise	NOUN
arjefm-66	200	31	in	in	ADP
arjefm-66	200	32	import	import	NOUN
arjefm-66	200	33	penetration	penetration	NOUN
arjefm-66	200	34	.	.	PUNCT
arjefm-66	201	1	these	these	DET
arjefm-66	201	2	results	result	NOUN
arjefm-66	201	3	are	be	AUX
arjefm-66	201	4	consistent	consistent	ADJ
arjefm-66	201	5	with	with	ADP
arjefm-66	201	6	our	our	PRON
arjefm-66	201	7	model	model	NOUN
arjefm-66	201	8	,	,	PUNCT
arjefm-66	201	9	which	which	PRON
arjefm-66	201	10	predicts	predict	VERB
arjefm-66	201	11	that	that	SCONJ
arjefm-66	201	12	credit	credit	NOUN
arjefm-66	201	13	terms	term	NOUN
arjefm-66	201	14	and	and	CCONJ
arjefm-66	201	15	product	product	NOUN
arjefm-66	201	16	prices	price	NOUN
arjefm-66	201	17	would	would	AUX
arjefm-66	201	18	remain	remain	VERB
arjefm-66	201	19	stable	stable	ADJ
arjefm-66	201	20	in	in	ADP
arjefm-66	201	21	recent	recent	ADJ
arjefm-66	201	22	decades	decade	NOUN
arjefm-66	201	23	due	due	ADP
arjefm-66	201	24	to	to	ADP
arjefm-66	201	25	low	low	ADJ
arjefm-66	201	26	inflation	inflation	NOUN
arjefm-66	201	27	.	.	PUNCT
arjefm-66	202	1	outside	outside	ADP
arjefm-66	202	2	of	of	ADP
arjefm-66	202	3	the	the	DET
arjefm-66	202	4	united	united	PROPN
arjefm-66	202	5	states	states	PROPN
arjefm-66	202	6	and	and	CCONJ
arjefm-66	202	7	other	other	ADJ
arjefm-66	202	8	industrialized	industrialized	ADJ
arjefm-66	202	9	countries	country	NOUN
arjefm-66	202	10	,	,	PUNCT
arjefm-66	202	11	however	however	ADV
arjefm-66	202	12	,	,	PUNCT
arjefm-66	202	13	credit	credit	NOUN
arjefm-66	202	14	terms	term	NOUN
arjefm-66	202	15	have	have	AUX
arjefm-66	202	16	not	not	PART
arjefm-66	202	17	been	be	AUX
arjefm-66	202	18	stable	stable	ADJ
arjefm-66	202	19	,	,	PUNCT
arjefm-66	202	20	especially	especially	ADV
arjefm-66	202	21	in	in	ADP
arjefm-66	202	22	countries	country	NOUN
arjefm-66	202	23	which	which	PRON
arjefm-66	202	24	suffered	suffer	VERB
arjefm-66	202	25	through	through	ADP
arjefm-66	202	26	financial	financial	ADJ
arjefm-66	202	27	crises	crisis	NOUN
arjefm-66	202	28	.	.	PUNCT
arjefm-66	203	1	devereux	devereux	PROPN
arjefm-66	203	2	(	(	PUNCT
arjefm-66	203	3	2001	2001	NUM
arjefm-66	203	4	)	)	PUNCT
arjefm-66	203	5	presents	present	VERB
arjefm-66	203	6	evidence	evidence	NOUN
arjefm-66	203	7	that	that	SCONJ
arjefm-66	203	8	exchange	exchange	NOUN
arjefm-66	203	9	rate	rate	NOUN
arjefm-66	203	10	passthrough	passthrough	NOUN
arjefm-66	203	11	is	be	AUX
arjefm-66	203	12	very	very	ADV
arjefm-66	203	13	rapid	rapid	ADJ
arjefm-66	203	14	for	for	ADP
arjefm-66	203	15	emerging	emerge	VERB
arjefm-66	203	16	markets	market	NOUN
arjefm-66	203	17	,	,	PUNCT
arjefm-66	203	18	but	but	CCONJ
arjefm-66	203	19	slow	slow	ADJ
arjefm-66	203	20	for	for	ADP
arjefm-66	203	21	advanced	advanced	ADJ
arjefm-66	203	22	economies	economy	NOUN
arjefm-66	203	23	.	.	PUNCT
arjefm-66	204	1	he	he	PRON
arjefm-66	204	2	quotes	quote	VERB
arjefm-66	204	3	the	the	DET
arjefm-66	204	4	governor	governor	NOUN
arjefm-66	204	5	of	of	ADP
arjefm-66	204	6	the	the	DET
arjefm-66	204	7	central	central	ADJ
arjefm-66	204	8	bank	bank	PROPN
arjefm-66	204	9	of	of	ADP
arjefm-66	204	10	mexico	mexico	PROPN
arjefm-66	204	11	,	,	PUNCT
arjefm-66	204	12	guillermo	guillermo	PROPN
arjefm-66	204	13	ortiz	ortiz	PROPN
arjefm-66	204	14	,	,	PUNCT
arjefm-66	204	15	who	who	PRON
arjefm-66	204	16	stated	state	VERB
arjefm-66	204	17	on	on	ADP
arjefm-66	204	18	24	24	NUM
arjefm-66	204	19	june	june	PROPN
arjefm-66	204	20	1999	1999	NUM
arjefm-66	204	21	that	that	SCONJ
arjefm-66	204	22	:	:	PUNCT
arjefm-66	204	23	“	"	PUNCT
arjefm-66	204	24	the	the	DET
arjefm-66	204	25	pass	pass	NOUN
arjefm-66	204	26	-	-	PUNCT
arjefm-66	204	27	through	through	NOUN
arjefm-66	204	28	of	of	ADP
arjefm-66	204	29	exchange	exchange	NOUN
arjefm-66	204	30	rates	rate	NOUN
arjefm-66	204	31	to	to	ADP
arjefm-66	204	32	inflation	inflation	NOUN
arjefm-66	204	33	was	be	AUX
arjefm-66	204	34	much	much	ADV
arjefm-66	204	35	higher	high	ADJ
arjefm-66	204	36	in	in	ADP
arjefm-66	204	37	mexico	mexico	PROPN
arjefm-66	204	38	than	than	ADP
arjefm-66	204	39	in	in	ADP
arjefm-66	204	40	canada	canada	PROPN
arjefm-66	204	41	,	,	PUNCT
arjefm-66	204	42	australia	australia	PROPN
arjefm-66	204	43	or	or	CCONJ
arjefm-66	204	44	new	new	PROPN
arjefm-66	204	45	zealand	zealand	PROPN
arjefm-66	204	46	.	.	PUNCT
arjefm-66	205	1	and	and	CCONJ
arjefm-66	205	2	this	this	PRON
arjefm-66	205	3	has	have	VERB
arjefm-66	205	4	to	to	PART
arjefm-66	205	5	do	do	VERB
arjefm-66	205	6	a	a	DET
arjefm-66	205	7	lot	lot	NOUN
arjefm-66	205	8	with	with	ADP
arjefm-66	205	9	history	history	NOUN
arjefm-66	205	10	,	,	PUNCT
arjefm-66	205	11	with	with	ADP
arjefm-66	205	12	credibility	credibility	NOUN
arjefm-66	205	13	of	of	ADP
arjefm-66	205	14	monetary	monetary	ADJ
arjefm-66	205	15	policies	policy	NOUN
arjefm-66	205	16	,	,	PUNCT
arjefm-66	205	17	and	and	CCONJ
arjefm-66	205	18	this	this	PRON
arjefm-66	205	19	is	be	AUX
arjefm-66	205	20	one	one	NUM
arjefm-66	205	21	of	of	ADP
arjefm-66	205	22	the	the	DET
arjefm-66	205	23	big	big	ADJ
arjefm-66	205	24	challenges	challenge	NOUN
arjefm-66	205	25	that	that	PRON
arjefm-66	205	26	we	we	PRON
arjefm-66	205	27	are	be	AUX
arjefm-66	205	28	facing	face	VERB
arjefm-66	205	29	today	today	NOUN
arjefm-66	205	30	in	in	ADP
arjefm-66	205	31	mexico	mexico	PROPN
arjefm-66	205	32	in	in	ADP
arjefm-66	205	33	the	the	DET
arjefm-66	205	34	conduct	conduct	NOUN
arjefm-66	205	35	of	of	ADP
arjefm-66	205	36	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-66	205	37	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-66	205	38	american	american	PROPN
arjefm-66	205	39	research	research	PROPN
arjefm-66	205	40	journal	journal	PROPN
arjefm-66	205	41	of	of	ADP
arjefm-66	205	42	economics	economic	NOUN
arjefm-66	205	43	,	,	PUNCT
arjefm-66	205	44	finance	finance	NOUN
arjefm-66	205	45	and	and	CCONJ
arjefm-66	205	46	management	management	NOUN
arjefm-66	205	47	volume	volume	NOUN
arjefm-66	205	48	10	10	NUM
arjefm-66	205	49	issue	issue	NOUN
arjefm-66	205	50	2	2	NUM
arjefm-66	205	51	,	,	PUNCT
arjefm-66	205	52	april	april	PROPN
arjefm-66	205	53	-	-	PUNCT
arjefm-66	205	54	june	june	PROPN
arjefm-66	205	55	2022	2022	PROPN
arjefm-66	205	56	issn	issn	PROPN
arjefm-66	205	57	:	:	PUNCT
arjefm-66	205	58	2836	2836	NUM
arjefm-66	205	59	-	-	SYM
arjefm-66	205	60	9416	9416	NUM
arjefm-66	205	61	impact	impact	NOUN
arjefm-66	205	62	factor	factor	NOUN
arjefm-66	205	63	:	:	PUNCT
arjefm-66	205	64	4.85	4.85	NUM
arjefm-66	205	65	journal	journal	NOUN
arjefm-66	205	66	homepage	homepage	NOUN
arjefm-66	205	67	:	:	PUNCT
arjefm-66	205	68	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-66	205	69	,	,	PUNCT
arjefm-66	205	70	email	email	NOUN
arjefm-66	205	71	:	:	PUNCT
arjefm-66	205	72	contact@americaserial.com	contact@americaserial.com	PROPN
arjefm-66	205	73	official	official	ADJ
arjefm-66	205	74	journal	journal	PROPN
arjefm-66	205	75	of	of	ADP
arjefm-66	205	76	america	america	PROPN
arjefm-66	205	77	serial	serial	PROPN
arjefm-66	205	78	publication	publication	NOUN
arjefm-66	205	79	american	american	PROPN
arjefm-66	205	80	research	research	PROPN
arjefm-66	205	81	journal	journal	PROPN
arjefm-66	205	82	of	of	ADP
arjefm-66	205	83	economics	economic	NOUN
arjefm-66	205	84	,	,	PUNCT
arjefm-66	205	85	finance	finance	NOUN
arjefm-66	205	86	and	and	CCONJ
arjefm-66	205	87	management	management	NOUN
arjefm-66	205	88	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-66	205	89	,	,	PUNCT
arjefm-66	205	90	email	email	NOUN
arjefm-66	205	91	:	:	PUNCT
arjefm-66	206	1	contact@americaserial.com	contact@americaserial.com	X
arjefm-66	207	1	53	53	NUM
arjefm-66	208	1	|	|	ADV
arjefm-66	208	2	p	p	X
arjefm-66	208	3	a	a	DET
arjefm-66	208	4	g	g	NOUN
arjefm-66	208	5	e	e	NOUN
arjefm-66	208	6	monetary	monetary	ADJ
arjefm-66	208	7	policy	policy	NOUN
arjefm-66	208	8	.	.	PUNCT
arjefm-66	209	1	and	and	CCONJ
arjefm-66	209	2	we	we	PRON
arjefm-66	209	3	have	have	VERB
arjefm-66	209	4	to	to	PART
arjefm-66	209	5	really	really	ADV
arjefm-66	209	6	build	build	VERB
arjefm-66	209	7	sufficient	sufficient	ADJ
arjefm-66	209	8	credibility	credibility	NOUN
arjefm-66	209	9	so	so	SCONJ
arjefm-66	209	10	that	that	SCONJ
arjefm-66	209	11	this	this	DET
arjefm-66	209	12	pass	pass	NOUN
arjefm-66	209	13	-	-	PUNCT
arjefm-66	209	14	through	through	NOUN
arjefm-66	209	15	from	from	ADP
arjefm-66	209	16	exchange	exchange	NOUN
arjefm-66	209	17	rate	rate	NOUN
arjefm-66	209	18	movements	movement	NOUN
arjefm-66	209	19	to	to	ADP
arjefm-66	209	20	inflation	inflation	NOUN
arjefm-66	209	21	ceases	cease	VERB
arjefm-66	209	22	to	to	PART
arjefm-66	209	23	be	be	AUX
arjefm-66	209	24	such	such	DET
arjefm-66	209	25	an	an	DET
arjefm-66	209	26	automatic	automatic	ADJ
arjefm-66	209	27	reaction	reaction	NOUN
arjefm-66	209	28	.	.	PUNCT
arjefm-66	209	29	”	"	PUNCT
arjefm-66	210	1	our	our	PRON
arjefm-66	210	2	model	model	NOUN
arjefm-66	210	3	suggests	suggest	VERB
arjefm-66	210	4	that	that	SCONJ
arjefm-66	210	5	the	the	DET
arjefm-66	210	6	stability	stability	NOUN
arjefm-66	210	7	of	of	ADP
arjefm-66	210	8	credit	credit	NOUN
arjefm-66	210	9	terms	term	NOUN
arjefm-66	210	10	in	in	ADP
arjefm-66	210	11	the	the	DET
arjefm-66	210	12	united	united	PROPN
arjefm-66	210	13	states	states	PROPN
arjefm-66	210	14	is	be	AUX
arjefm-66	210	15	due	due	ADJ
arjefm-66	210	16	to	to	ADP
arjefm-66	210	17	the	the	DET
arjefm-66	210	18	credibility	credibility	NOUN
arjefm-66	210	19	established	establish	VERB
arjefm-66	210	20	by	by	ADP
arjefm-66	210	21	the	the	DET
arjefm-66	210	22	federal	federal	PROPN
arjefm-66	210	23	reserve	reserve	PROPN
arjefm-66	210	24	in	in	ADP
arjefm-66	210	25	maintaining	maintain	VERB
arjefm-66	210	26	a	a	DET
arjefm-66	210	27	low	low	ADJ
arjefm-66	210	28	and	and	CCONJ
arjefm-66	210	29	stable	stable	ADJ
arjefm-66	210	30	inflation	inflation	NOUN
arjefm-66	210	31	environment	environment	NOUN
arjefm-66	210	32	where	where	SCONJ
arjefm-66	210	33	shortterm	shortterm	PROPN
arjefm-66	210	34	interest	interest	NOUN
arjefm-66	210	35	rate	rate	NOUN
arjefm-66	210	36	changes	change	NOUN
arjefm-66	210	37	are	be	AUX
arjefm-66	210	38	gradual	gradual	ADJ
arjefm-66	210	39	.	.	PUNCT
arjefm-66	211	1	the	the	DET
arjefm-66	211	2	converse	converse	NOUN
arjefm-66	211	3	would	would	AUX
arjefm-66	211	4	,	,	PUNCT
arjefm-66	211	5	however	however	ADV
arjefm-66	211	6	,	,	PUNCT
arjefm-66	211	7	also	also	ADV
arjefm-66	211	8	be	be	AUX
arjefm-66	211	9	true	true	ADJ
arjefm-66	211	10	.	.	PUNCT
arjefm-66	212	1	monetary	monetary	ADJ
arjefm-66	212	2	easing	easing	NOUN
arjefm-66	212	3	in	in	ADP
arjefm-66	212	4	times	time	NOUN
arjefm-66	212	5	of	of	ADP
arjefm-66	212	6	recession	recession	NOUN
arjefm-66	212	7	(	(	PUNCT
arjefm-66	212	8	like	like	ADP
arjefm-66	212	9	during	during	ADP
arjefm-66	212	10	a	a	DET
arjefm-66	212	11	pandemic	pandemic	NOUN
arjefm-66	212	12	)	)	PUNCT
arjefm-66	212	13	may	may	AUX
arjefm-66	212	14	not	not	PART
arjefm-66	212	15	result	result	VERB
arjefm-66	212	16	in	in	ADP
arjefm-66	212	17	lower	low	ADJ
arjefm-66	212	18	trade	trade	NOUN
arjefm-66	212	19	credit	credit	NOUN
arjefm-66	212	20	interest	interest	NOUN
arjefm-66	212	21	rates	rate	NOUN
arjefm-66	212	22	or	or	CCONJ
arjefm-66	212	23	more	more	ADV
arjefm-66	212	24	generous	generous	ADJ
arjefm-66	212	25	credit	credit	NOUN
arjefm-66	212	26	terms	term	NOUN
arjefm-66	212	27	as	as	SCONJ
arjefm-66	212	28	the	the	DET
arjefm-66	212	29	benefits	benefit	NOUN
arjefm-66	212	30	of	of	ADP
arjefm-66	212	31	companies	company	NOUN
arjefm-66	212	32	changing	change	VERB
arjefm-66	212	33	credit	credit	NOUN
arjefm-66	212	34	terms	term	NOUN
arjefm-66	212	35	might	might	AUX
arjefm-66	212	36	be	be	AUX
arjefm-66	212	37	offset	offset	VERB
arjefm-66	212	38	by	by	ADP
arjefm-66	212	39	menu	menu	NOUN
arjefm-66	212	40	costs	cost	NOUN
arjefm-66	212	41	.	.	PUNCT
arjefm-66	213	1	this	this	PRON
arjefm-66	213	2	explains	explain	VERB
arjefm-66	213	3	the	the	DET
arjefm-66	213	4	common	common	ADJ
arjefm-66	213	5	observation	observation	NOUN
arjefm-66	213	6	that	that	SCONJ
arjefm-66	213	7	trade	trade	NOUN
arjefm-66	213	8	credit	credit	NOUN
arjefm-66	213	9	or	or	CCONJ
arjefm-66	213	10	credit	credit	NOUN
arjefm-66	213	11	card	card	NOUN
arjefm-66	213	12	interest	interest	NOUN
arjefm-66	213	13	rates	rate	NOUN
arjefm-66	213	14	remain	remain	VERB
arjefm-66	213	15	high	high	ADJ
arjefm-66	213	16	even	even	ADV
arjefm-66	213	17	though	though	SCONJ
arjefm-66	213	18	the	the	DET
arjefm-66	213	19	federal	federal	ADJ
arjefm-66	213	20	funds	fund	NOUN
arjefm-66	213	21	rate	rate	NOUN
arjefm-66	213	22	is	be	AUX
arjefm-66	213	23	near	near	ADP
arjefm-66	213	24	zero	zero	NUM
arjefm-66	213	25	.	.	PUNCT
arjefm-66	214	1	references	reference	NOUN
arjefm-66	214	2	atkins	atkins	PROPN
arjefm-66	214	3	jc	jc	PROPN
arjefm-66	214	4	,	,	PUNCT
arjefm-66	214	5	kim	kim	PROPN
arjefm-66	214	6	yh	yh	PROPN
arjefm-66	214	7	.	.	PROPN
arjefm-66	214	8	1977	1977	NUM
arjefm-66	214	9	.	.	PUNCT
arjefm-66	215	1	comment	comment	NOUN
arjefm-66	215	2	and	and	CCONJ
arjefm-66	215	3	correction	correction	NOUN
arjefm-66	215	4	:	:	PUNCT
arjefm-66	215	5	opportunity	opportunity	NOUN
arjefm-66	215	6	cost	cost	NOUN
arjefm-66	215	7	in	in	ADP
arjefm-66	215	8	the	the	DET
arjefm-66	215	9	evaluation	evaluation	NOUN
arjefm-66	215	10	of	of	ADP
arjefm-66	215	11	investment	investment	NOUN
arjefm-66	215	12	in	in	ADP
arjefm-66	215	13	accounts	account	NOUN
arjefm-66	215	14	receivable	receivable	ADJ
arjefm-66	215	15	.	.	PUNCT
arjefm-66	216	1	financial	financial	ADJ
arjefm-66	216	2	management	management	NOUN
arjefm-66	216	3	6	6	NUM
arjefm-66	216	4	:	:	SYM
arjefm-66	216	5	71	71	NUM
arjefm-66	216	6	-	-	SYM
arjefm-66	216	7	74	74	NUM
arjefm-66	216	8	.	.	PUNCT
arjefm-66	217	1	bailliu	bailliu	PROPN
arjefm-66	217	2	j	j	PROPN
arjefm-66	217	3	,	,	PUNCT
arjefm-66	217	4	bouakez	bouakez	PROPN
arjefm-66	217	5	h.	h.	PROPN
arjefm-66	217	6	2004	2004	NUM
arjefm-66	217	7	.	.	PUNCT
arjefm-66	218	1	exchange	exchange	NOUN
arjefm-66	218	2	rate	rate	NOUN
arjefm-66	218	3	pass	pass	NOUN
arjefm-66	218	4	-	-	PUNCT
arjefm-66	218	5	through	through	NOUN
arjefm-66	218	6	in	in	ADP
arjefm-66	218	7	industrialized	industrialized	ADJ
arjefm-66	218	8	countries	country	NOUN
arjefm-66	218	9	.	.	PUNCT
arjefm-66	219	1	bank	bank	PROPN
arjefm-66	219	2	of	of	ADP
arjefm-66	219	3	canada	canada	PROPN
arjefm-66	219	4	review	review	PROPN
arjefm-66	219	5	spring	spring	NOUN
arjefm-66	219	6	2004:19	2004:19	NUM
arjefm-66	219	7	-	-	SYM
arjefm-66	219	8	28	28	NUM
arjefm-66	219	9	.	.	PUNCT
arjefm-66	220	1	beranek	beranek	PROPN
arjefm-66	220	2	w.	w.	PROPN
arjefm-66	220	3	1991	1991	NUM
arjefm-66	220	4	.	.	PUNCT
arjefm-66	221	1	behavioral	behavioral	ADJ
arjefm-66	221	2	relations	relation	NOUN
arjefm-66	221	3	,	,	PUNCT
arjefm-66	221	4	operating	operate	VERB
arjefm-66	221	5	factors	factor	NOUN
arjefm-66	221	6	and	and	CCONJ
arjefm-66	221	7	the	the	DET
arjefm-66	221	8	optimal	optimal	ADJ
arjefm-66	221	9	cash	cash	NOUN
arjefm-66	221	10	discount	discount	NOUN
arjefm-66	221	11	.	.	PUNCT
arjefm-66	222	1	the	the	DET
arjefm-66	222	2	7th	7th	ADJ
arjefm-66	222	3	international	international	ADJ
arjefm-66	222	4	symposium	symposium	NOUN
arjefm-66	222	5	on	on	ADP
arjefm-66	222	6	cash	cash	NOUN
arjefm-66	222	7	,	,	PUNCT
arjefm-66	222	8	treasury	treasury	NOUN
arjefm-66	222	9	and	and	CCONJ
arjefm-66	222	10	working	working	ADJ
arjefm-66	222	11	capital	capital	NOUN
arjefm-66	222	12	management	management	NOUN
arjefm-66	222	13	,	,	PUNCT
arjefm-66	222	14	kim	kim	PROPN
arjefm-66	222	15	,	,	PUNCT
arjefm-66	222	16	y	y	PROPN
arjefm-66	222	17	(	(	PUNCT
arjefm-66	222	18	ed	ed	NOUN
arjefm-66	222	19	)	)	PUNCT
arjefm-66	222	20	.	.	PUNCT
arjefm-66	223	1	chicago	chicago	PROPN
arjefm-66	223	2	,	,	PUNCT
arjefm-66	223	3	october	october	PROPN
arjefm-66	223	4	1991	1991	NUM
arjefm-66	223	5	.	.	PUNCT
arjefm-66	224	1	brick	brick	NOUN
arjefm-66	224	2	ie	ie	X
arjefm-66	224	3	,	,	PUNCT
arjefm-66	224	4	fung	fung	PROPN
arjefm-66	224	5	wkh	wkh	PROPN
arjefm-66	224	6	.	.	PUNCT
arjefm-66	224	7	1984	1984	NUM
arjefm-66	224	8	.	.	PUNCT
arjefm-66	225	1	taxes	taxis	NOUN
arjefm-66	225	2	and	and	CCONJ
arjefm-66	225	3	the	the	DET
arjefm-66	225	4	theory	theory	NOUN
arjefm-66	225	5	of	of	ADP
arjefm-66	225	6	trade	trade	NOUN
arjefm-66	225	7	debt	debt	NOUN
arjefm-66	225	8	.	.	PUNCT
arjefm-66	226	1	journal	journal	NOUN
arjefm-66	226	2	of	of	ADP
arjefm-66	226	3	finance	finance	NOUN
arjefm-66	226	4	39	39	NUM
arjefm-66	226	5	:	:	PUNCT
arjefm-66	226	6	1169	1169	NUM
arjefm-66	226	7	-	-	SYM
arjefm-66	226	8	1176	1176	NUM
arjefm-66	226	9	.	.	PUNCT
arjefm-66	227	1	carroll	carroll	PROPN
arjefm-66	227	2	k	k	PROPN
arjefm-66	227	3	,	,	PUNCT
arjefm-66	227	4	coates	coates	PROPN
arjefm-66	227	5	d.	d.	PROPN
arjefm-66	227	6	1999	1999	NUM
arjefm-66	227	7	.	.	PUNCT
arjefm-66	228	1	teaching	teach	VERB
arjefm-66	228	2	price	price	NOUN
arjefm-66	228	3	discrimination	discrimination	NOUN
arjefm-66	228	4	:	:	PUNCT
arjefm-66	228	5	some	some	DET
arjefm-66	228	6	clarification	clarification	NOUN
arjefm-66	228	7	.	.	PUNCT
arjefm-66	229	1	southern	southern	ADJ
arjefm-66	229	2	economic	economic	ADJ
arjefm-66	229	3	journal	journal	PROPN
arjefm-66	229	4	66(2	66(2	NUM
arjefm-66	229	5	):	):	PUNCT
arjefm-66	229	6	466480	466480	NUM
arjefm-66	229	7	.	.	PUNCT
arjefm-66	230	1	devereux	devereux	PROPN
arjefm-66	230	2	mb	mb	PROPN
arjefm-66	230	3	.	.	PROPN
arjefm-66	230	4	2001	2001	NUM
arjefm-66	230	5	.	.	PUNCT
arjefm-66	231	1	monetary	monetary	ADJ
arjefm-66	231	2	policy	policy	NOUN
arjefm-66	231	3	,	,	PUNCT
arjefm-66	231	4	exchange	exchange	NOUN
arjefm-66	231	5	rate	rate	NOUN
arjefm-66	231	6	flexibility	flexibility	NOUN
arjefm-66	231	7	,	,	PUNCT
arjefm-66	231	8	and	and	CCONJ
arjefm-66	231	9	exchange	exchange	NOUN
arjefm-66	231	10	rate	rate	NOUN
arjefm-66	231	11	pass	pass	NOUN
arjefm-66	231	12	-	-	PUNCT
arjefm-66	231	13	through	through	NOUN
arjefm-66	231	14	.	.	PUNCT
arjefm-66	232	1	revisiting	revisit	VERB
arjefm-66	232	2	the	the	DET
arjefm-66	232	3	case	case	NOUN
arjefm-66	232	4	for	for	ADP
arjefm-66	232	5	flexible	flexible	ADJ
arjefm-66	232	6	exchange	exchange	NOUN
arjefm-66	232	7	rates	rate	NOUN
arjefm-66	232	8	,	,	PUNCT
arjefm-66	232	9	proceedings	proceeding	NOUN
arjefm-66	232	10	of	of	ADP
arjefm-66	232	11	a	a	DET
arjefm-66	232	12	conference	conference	NOUN
arjefm-66	232	13	held	hold	VERB
arjefm-66	232	14	at	at	ADP
arjefm-66	232	15	the	the	DET
arjefm-66	232	16	bank	bank	PROPN
arjefm-66	232	17	of	of	ADP
arjefm-66	232	18	canada	canada	PROPN
arjefm-66	232	19	,	,	PUNCT
arjefm-66	232	20	november	november	PROPN
arjefm-66	232	21	2000	2000	NUM
arjefm-66	232	22	,	,	PUNCT
arjefm-66	232	23	bank	bank	PROPN
arjefm-66	232	24	of	of	ADP
arjefm-66	232	25	canada	canada	PROPN
arjefm-66	232	26	,	,	PUNCT
arjefm-66	232	27	ottawa	ottawa	PROPN
arjefm-66	232	28	,	,	PUNCT
arjefm-66	232	29	ontario	ontario	PROPN
arjefm-66	232	30	,	,	PUNCT
arjefm-66	232	31	canada	canada	PROPN
arjefm-66	232	32	.	.	PUNCT
arjefm-66	233	1	devereux	devereux	PROPN
arjefm-66	233	2	mb	mb	PROPN
arjefm-66	233	3	,	,	PUNCT
arjefm-66	233	4	yetman	yetman	PROPN
arjefm-66	233	5	j.	j.	PROPN
arjefm-66	233	6	2002	2002	PROPN
arjefm-66	233	7	.	.	PUNCT
arjefm-66	234	1	price	price	NOUN
arjefm-66	234	2	-	-	PUNCT
arjefm-66	234	3	setting	set	VERB
arjefm-66	234	4	and	and	CCONJ
arjefm-66	234	5	exchange	exchange	NOUN
arjefm-66	234	6	rate	rate	NOUN
arjefm-66	234	7	pass	pass	NOUN
arjefm-66	234	8	-	-	PUNCT
arjefm-66	234	9	through	through	NOUN
arjefm-66	234	10	:	:	PUNCT
arjefm-66	234	11	theory	theory	NOUN
arjefm-66	234	12	and	and	CCONJ
arjefm-66	234	13	evidence	evidence	NOUN
arjefm-66	234	14	.	.	PUNCT
arjefm-66	235	1	price	price	NOUN
arjefm-66	235	2	adjustment	adjustment	NOUN
arjefm-66	235	3	and	and	CCONJ
arjefm-66	235	4	monetary	monetary	ADJ
arjefm-66	235	5	policy	policy	NOUN
arjefm-66	235	6	,	,	PUNCT
arjefm-66	235	7	proceedings	proceeding	NOUN
arjefm-66	235	8	of	of	ADP
arjefm-66	235	9	a	a	DET
arjefm-66	235	10	conference	conference	NOUN
arjefm-66	235	11	held	hold	VERB
arjefm-66	235	12	at	at	ADP
arjefm-66	235	13	the	the	DET
arjefm-66	235	14	bank	bank	PROPN
arjefm-66	235	15	of	of	ADP
arjefm-66	235	16	canada	canada	PROPN
arjefm-66	235	17	,	,	PUNCT
arjefm-66	235	18	november	november	PROPN
arjefm-66	235	19	2002	2002	NUM
arjefm-66	235	20	,	,	PUNCT
arjefm-66	235	21	bank	bank	PROPN
arjefm-66	235	22	of	of	ADP
arjefm-66	235	23	canada	canada	PROPN
arjefm-66	235	24	,	,	PUNCT
arjefm-66	235	25	ottawa	ottawa	PROPN
arjefm-66	235	26	,	,	PUNCT
arjefm-66	235	27	ontario	ontario	PROPN
arjefm-66	235	28	,	,	PUNCT
arjefm-66	235	29	canada	canada	PROPN
arjefm-66	235	30	.	.	PUNCT
arjefm-66	236	1	dwor	dwor	PROPN
arjefm-66	236	2	-	-	PUNCT
arjefm-66	236	3	frecaut	frecaut	NOUN
arjefm-66	236	4	d	d	PROPN
arjefm-66	236	5	,	,	PUNCT
arjefm-66	236	6	colaco	colaco	PROPN
arjefm-66	236	7	fx	fx	PROPN
arjefm-66	236	8	,	,	PUNCT
arjefm-66	236	9	hallward	hallward	NOUN
arjefm-66	236	10	-	-	PUNCT
arjefm-66	236	11	driemeier	driemei	ADJ
arjefm-66	236	12	m.	m.	NOUN
arjefm-66	236	13	2000	2000	NUM
arjefm-66	236	14	.	.	PUNCT
arjefm-66	237	1	asian	asian	ADJ
arjefm-66	237	2	corporate	corporate	ADJ
arjefm-66	237	3	recovery	recovery	NOUN
arjefm-66	237	4	,	,	PUNCT
arjefm-66	237	5	findings	finding	NOUN
arjefm-66	237	6	from	from	ADP
arjefm-66	237	7	firm	firm	ADJ
arjefm-66	237	8	-	-	PUNCT
arjefm-66	237	9	level	level	NOUN
arjefm-66	237	10	surveys	survey	NOUN
arjefm-66	237	11	in	in	ADP
arjefm-66	237	12	five	five	NUM
arjefm-66	237	13	countries	country	NOUN
arjefm-66	237	14	.	.	PUNCT
arjefm-66	238	1	world	world	PROPN
arjefm-66	238	2	bank	bank	PROPN
arjefm-66	238	3	,	,	PUNCT
arjefm-66	238	4	washington	washington	PROPN
arjefm-66	238	5	,	,	PUNCT
arjefm-66	238	6	d.c	d.c	PROPN
arjefm-66	238	7	.	.	PROPN
arjefm-66	238	8	processed	process	VERB
arjefm-66	238	9	.	.	PUNCT
arjefm-66	239	1	emery	emery	PROPN
arjefm-66	239	2	gw	gw	PROPN
arjefm-66	239	3	.	.	PROPN
arjefm-66	239	4	1984	1984	NUM
arjefm-66	239	5	.	.	PUNCT
arjefm-66	240	1	a	a	DET
arjefm-66	240	2	pure	pure	ADJ
arjefm-66	240	3	financial	financial	ADJ
arjefm-66	240	4	explanation	explanation	NOUN
arjefm-66	240	5	for	for	ADP
arjefm-66	240	6	trade	trade	NOUN
arjefm-66	240	7	credit	credit	NOUN
arjefm-66	240	8	.	.	PUNCT
arjefm-66	241	1	journal	journal	NOUN
arjefm-66	241	2	of	of	ADP
arjefm-66	241	3	financial	financial	ADJ
arjefm-66	241	4	and	and	CCONJ
arjefm-66	241	5	quantitative	quantitative	ADJ
arjefm-66	241	6	analysis	analysis	NOUN
arjefm-66	241	7	19	19	NUM
arjefm-66	241	8	:	:	SYM
arjefm-66	241	9	271285	271285	NUM
arjefm-66	241	10	.	.	PUNCT
arjefm-66	242	1	emery	emery	PROPN
arjefm-66	242	2	gw	gw	PROPN
arjefm-66	242	3	.	.	PROPN
arjefm-66	242	4	1987	1987	NUM
arjefm-66	242	5	.	.	PUNCT
arjefm-66	243	1	an	an	DET
arjefm-66	243	2	optimal	optimal	ADJ
arjefm-66	243	3	financial	financial	ADJ
arjefm-66	243	4	response	response	NOUN
arjefm-66	243	5	to	to	ADP
arjefm-66	243	6	variable	variable	ADJ
arjefm-66	243	7	demand	demand	NOUN
arjefm-66	243	8	.	.	PUNCT
arjefm-66	244	1	journal	journal	NOUN
arjefm-66	244	2	of	of	ADP
arjefm-66	244	3	financial	financial	ADJ
arjefm-66	244	4	and	and	CCONJ
arjefm-66	244	5	quantitative	quantitative	ADJ
arjefm-66	244	6	analysis	analysis	NOUN
arjefm-66	244	7	22	22	NUM
arjefm-66	244	8	:	:	PUNCT
arjefm-66	244	9	209	209	NUM
arjefm-66	244	10	-	-	SYM
arjefm-66	244	11	225	225	NUM
arjefm-66	244	12	.	.	PUNCT
arjefm-66	245	1	mailto:contact@americaserial.com	mailto:contact@americaserial.com	X
arjefm-66	245	2	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-66	246	1	american	american	PROPN
arjefm-66	246	2	research	research	PROPN
arjefm-66	246	3	journal	journal	PROPN
arjefm-66	246	4	of	of	ADP
arjefm-66	246	5	economics	economic	NOUN
arjefm-66	246	6	,	,	PUNCT
arjefm-66	246	7	finance	finance	NOUN
arjefm-66	246	8	and	and	CCONJ
arjefm-66	246	9	management	management	NOUN
arjefm-66	246	10	volume	volume	NOUN
arjefm-66	246	11	10	10	NUM
arjefm-66	246	12	issue	issue	NOUN
arjefm-66	246	13	2	2	NUM
arjefm-66	246	14	,	,	PUNCT
arjefm-66	246	15	april	april	PROPN
arjefm-66	246	16	-	-	PUNCT
arjefm-66	246	17	june	june	PROPN
arjefm-66	246	18	2022	2022	PROPN
arjefm-66	246	19	issn	issn	PROPN
arjefm-66	246	20	:	:	PUNCT
arjefm-66	246	21	2836	2836	NUM
arjefm-66	246	22	-	-	SYM
arjefm-66	246	23	9416	9416	NUM
arjefm-66	246	24	impact	impact	NOUN
arjefm-66	246	25	factor	factor	NOUN
arjefm-66	246	26	:	:	PUNCT
arjefm-66	246	27	4.85	4.85	NUM
arjefm-66	246	28	journal	journal	NOUN
arjefm-66	246	29	homepage	homepage	NOUN
arjefm-66	246	30	:	:	PUNCT
arjefm-66	246	31	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-66	246	32	,	,	PUNCT
arjefm-66	246	33	email	email	NOUN
arjefm-66	246	34	:	:	PUNCT
arjefm-66	246	35	contact@americaserial.com	contact@americaserial.com	PROPN
arjefm-66	246	36	official	official	ADJ
arjefm-66	246	37	journal	journal	PROPN
arjefm-66	246	38	of	of	ADP
arjefm-66	246	39	america	america	PROPN
arjefm-66	246	40	serial	serial	PROPN
arjefm-66	246	41	publication	publication	NOUN
arjefm-66	246	42	american	american	PROPN
arjefm-66	246	43	research	research	PROPN
arjefm-66	246	44	journal	journal	PROPN
arjefm-66	246	45	of	of	ADP
arjefm-66	246	46	economics	economic	NOUN
arjefm-66	246	47	,	,	PUNCT
arjefm-66	246	48	finance	finance	NOUN
arjefm-66	246	49	and	and	CCONJ
arjefm-66	246	50	management	management	NOUN
arjefm-66	246	51	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-66	246	52	,	,	PUNCT
arjefm-66	246	53	email	email	NOUN
arjefm-66	246	54	:	:	PUNCT
arjefm-66	246	55	contact@americaserial.com	contact@americaserial.com	X
arjefm-66	247	1	54	54	NUM
arjefm-66	248	1	|	|	ADV
arjefm-66	248	2	p	p	NOUN
arjefm-66	248	3	a	a	DET
arjefm-66	248	4	g	g	PROPN
arjefm-66	248	5	e	e	PROPN
arjefm-66	248	6	graham	graham	PROPN
arjefm-66	248	7	jr	jr	PROPN
arjefm-66	248	8	,	,	PUNCT
arjefm-66	248	9	harvey	harvey	PROPN
arjefm-66	248	10	cr	cr	PROPN
arjefm-66	248	11	.	.	PROPN
arjefm-66	248	12	2001	2001	NUM
arjefm-66	248	13	.	.	PUNCT
arjefm-66	249	1	the	the	DET
arjefm-66	249	2	theory	theory	NOUN
arjefm-66	249	3	and	and	CCONJ
arjefm-66	249	4	practice	practice	NOUN
arjefm-66	249	5	of	of	ADP
arjefm-66	249	6	corporate	corporate	ADJ
arjefm-66	249	7	finance	finance	NOUN
arjefm-66	249	8	:	:	PUNCT
arjefm-66	249	9	evidence	evidence	NOUN
arjefm-66	249	10	from	from	ADP
arjefm-66	249	11	the	the	DET
arjefm-66	249	12	field	field	NOUN
arjefm-66	249	13	.	.	PUNCT
arjefm-66	250	1	journal	journal	NOUN
arjefm-66	250	2	of	of	ADP
arjefm-66	250	3	financial	financial	ADJ
arjefm-66	250	4	economics	economic	NOUN
arjefm-66	250	5	60	60	NUM
arjefm-66	250	6	:	:	PUNCT
arjefm-66	250	7	187	187	NUM
arjefm-66	250	8	-	-	SYM
arjefm-66	250	9	243	243	NUM
arjefm-66	250	10	.	.	PUNCT
arjefm-66	251	1	hill	hill	PROPN
arjefm-66	251	2	nc	nc	PROPN
arjefm-66	251	3	,	,	PUNCT
arjefm-66	251	4	riener	riener	PROPN
arjefm-66	251	5	kd	kd	PROPN
arjefm-66	251	6	.	.	PROPN
arjefm-66	251	7	1979	1979	NUM
arjefm-66	251	8	.	.	PUNCT
arjefm-66	252	1	determining	determine	VERB
arjefm-66	252	2	the	the	DET
arjefm-66	252	3	cash	cash	NOUN
arjefm-66	252	4	discount	discount	NOUN
arjefm-66	252	5	in	in	ADP
arjefm-66	252	6	the	the	DET
arjefm-66	252	7	firm	firm	NOUN
arjefm-66	252	8	’s	’s	PART
arjefm-66	252	9	credit	credit	NOUN
arjefm-66	252	10	policy	policy	NOUN
arjefm-66	252	11	.	.	PUNCT
arjefm-66	253	1	financial	financial	ADJ
arjefm-66	253	2	management	management	NOUN
arjefm-66	253	3	8	8	NUM
arjefm-66	253	4	:	:	PUNCT
arjefm-66	253	5	68	68	NUM
arjefm-66	253	6	-	-	SYM
arjefm-66	253	7	73	73	NUM
arjefm-66	253	8	.	.	PUNCT
arjefm-66	254	1	kim	kim	PROPN
arjefm-66	254	2	yh	yh	PROPN
arjefm-66	254	3	,	,	PUNCT
arjefm-66	254	4	atkins	atkins	PROPN
arjefm-66	254	5	jc	jc	PROPN
arjefm-66	254	6	.	.	PROPN
arjefm-66	254	7	1978	1978	NUM
arjefm-66	254	8	.	.	PUNCT
arjefm-66	255	1	evaluating	evaluate	VERB
arjefm-66	255	2	investments	investment	NOUN
arjefm-66	255	3	in	in	ADP
arjefm-66	255	4	accounts	account	NOUN
arjefm-66	255	5	receivable	receivable	ADJ
arjefm-66	255	6	:	:	PUNCT
arjefm-66	255	7	a	a	DET
arjefm-66	255	8	maximizing	maximize	VERB
arjefm-66	255	9	framework	framework	NOUN
arjefm-66	255	10	.	.	PUNCT
arjefm-66	256	1	journal	journal	NOUN
arjefm-66	256	2	of	of	ADP
arjefm-66	256	3	finance	finance	NOUN
arjefm-66	256	4	33	33	NUM
arjefm-66	256	5	:	:	PUNCT
arjefm-66	256	6	403	403	NUM
arjefm-66	256	7	-	-	SYM
arjefm-66	256	8	412	412	NUM
arjefm-66	256	9	.	.	PUNCT
arjefm-66	257	1	kim	kim	PROPN
arjefm-66	257	2	yh	yh	PROPN
arjefm-66	257	3	,	,	PUNCT
arjefm-66	257	4	chung	chung	PROPN
arjefm-66	257	5	kh	kh	PROPN
arjefm-66	257	6	.	.	PROPN
arjefm-66	257	7	1990	1990	NUM
arjefm-66	257	8	.	.	PUNCT
arjefm-66	258	1	an	an	DET
arjefm-66	258	2	integrated	integrate	VERB
arjefm-66	258	3	evaluation	evaluation	NOUN
arjefm-66	258	4	of	of	ADP
arjefm-66	258	5	investment	investment	NOUN
arjefm-66	258	6	in	in	ADP
arjefm-66	258	7	inventory	inventory	NOUN
arjefm-66	258	8	and	and	CCONJ
arjefm-66	258	9	credit	credit	NOUN
arjefm-66	258	10	:	:	PUNCT
arjefm-66	258	11	a	a	DET
arjefm-66	258	12	cash	cash	NOUN
arjefm-66	258	13	flow	flow	NOUN
arjefm-66	258	14	approach	approach	NOUN
arjefm-66	258	15	.	.	PUNCT
arjefm-66	259	1	journal	journal	NOUN
arjefm-66	259	2	of	of	ADP
arjefm-66	259	3	business	business	NOUN
arjefm-66	259	4	finance	finance	PROPN
arjefm-66	259	5	&	&	CCONJ
arjefm-66	259	6	accounting	account	VERB
arjefm-66	259	7	17	17	NUM
arjefm-66	259	8	:	:	PUNCT
arjefm-66	259	9	381	381	NUM
arjefm-66	259	10	-	-	SYM
arjefm-66	259	11	390	390	NUM
arjefm-66	259	12	.	.	PUNCT
arjefm-66	260	1	layson	layson	NOUN
arjefm-66	260	2	sk	sk	PROPN
arjefm-66	260	3	.	.	PROPN
arjefm-66	260	4	1998	1998	NUM
arjefm-66	260	5	.	.	PUNCT
arjefm-66	261	1	third	third	ADJ
arjefm-66	261	2	-	-	PUNCT
arjefm-66	261	3	degree	degree	NOUN
arjefm-66	261	4	price	price	NOUN
arjefm-66	261	5	discrimination	discrimination	NOUN
arjefm-66	261	6	with	with	ADP
arjefm-66	261	7	interdependent	interdependent	ADJ
arjefm-66	261	8	demands	demand	NOUN
arjefm-66	261	9	.	.	PUNCT
arjefm-66	262	1	journal	journal	NOUN
arjefm-66	262	2	of	of	ADP
arjefm-66	262	3	industrial	industrial	ADJ
arjefm-66	262	4	economics	economic	NOUN
arjefm-66	262	5	46:511	46:511	PROPN
arjefm-66	262	6	-	-	PUNCT
arjefm-66	262	7	524	524	NUM
arjefm-66	262	8	.	.	PUNCT
arjefm-66	263	1	lieber	lieber	PROPN
arjefm-66	263	2	z	z	PROPN
arjefm-66	263	3	,	,	PUNCT
arjefm-66	263	4	orgler	orgler	PROPN
arjefm-66	263	5	ye	ye	NOUN
arjefm-66	263	6	.	.	PROPN
arjefm-66	263	7	1975	1975	NUM
arjefm-66	263	8	.	.	PUNCT
arjefm-66	264	1	an	an	DET
arjefm-66	264	2	integrated	integrate	VERB
arjefm-66	264	3	model	model	NOUN
arjefm-66	264	4	for	for	ADP
arjefm-66	264	5	accounts	account	NOUN
arjefm-66	264	6	receivable	receivable	ADJ
arjefm-66	264	7	management	management	NOUN
arjefm-66	264	8	.	.	PUNCT
arjefm-66	265	1	management	management	NOUN
arjefm-66	265	2	science	science	NOUN
arjefm-66	265	3	22	22	NUM
arjefm-66	265	4	:	:	SYM
arjefm-66	265	5	212219	212219	NUM
arjefm-66	265	6	.	.	PUNCT
arjefm-66	266	1	lim	lim	PROPN
arjefm-66	266	2	w	w	PROPN
arjefm-66	266	3	,	,	PUNCT
arjefm-66	266	4	rashid	rashid	PROPN
arjefm-66	266	5	m.	m.	PROPN
arjefm-66	266	6	2002	2002	NUM
arjefm-66	266	7	.	.	PUNCT
arjefm-66	267	1	an	an	DET
arjefm-66	267	2	operational	operational	ADJ
arjefm-66	267	3	theory	theory	NOUN
arjefm-66	267	4	integrating	integrate	VERB
arjefm-66	267	5	cash	cash	NOUN
arjefm-66	267	6	discount	discount	NOUN
arjefm-66	267	7	and	and	CCONJ
arjefm-66	267	8	product	product	NOUN
arjefm-66	267	9	pricing	pricing	NOUN
arjefm-66	267	10	policies	policy	NOUN
arjefm-66	267	11	.	.	PUNCT
arjefm-66	268	1	journal	journal	PROPN
arjefm-66	268	2	of	of	ADP
arjefm-66	268	3	american	american	PROPN
arjefm-66	268	4	academy	academy	PROPN
arjefm-66	268	5	of	of	ADP
arjefm-66	268	6	business	business	PROPN
arjefm-66	268	7	1	1	NUM
arjefm-66	268	8	:	:	PUNCT
arjefm-66	268	9	282	282	NUM
arjefm-66	268	10	-	-	SYM
arjefm-66	268	11	288	288	NUM
arjefm-66	268	12	.	.	PUNCT
arjefm-66	269	1	lim	lim	PROPN
arjefm-66	269	2	,	,	PUNCT
arjefm-66	269	3	w	w	PROPN
arjefm-66	269	4	,	,	PUNCT
arjefm-66	269	5	rashid	rashid	PROPN
arjefm-66	269	6	m.	m.	PROPN
arjefm-66	269	7	2008	2008	NUM
arjefm-66	269	8	.	.	PUNCT
arjefm-66	270	1	variations	variation	NOUN
arjefm-66	270	2	on	on	ADP
arjefm-66	270	3	the	the	DET
arjefm-66	270	4	operational	operational	ADJ
arjefm-66	270	5	theory	theory	NOUN
arjefm-66	270	6	integrating	integrate	VERB
arjefm-66	270	7	cash	cash	NOUN
arjefm-66	270	8	discount	discount	NOUN
arjefm-66	270	9	and	and	CCONJ
arjefm-66	270	10	product	product	NOUN
arjefm-66	270	11	pricing	pricing	NOUN
arjefm-66	270	12	policies	policy	NOUN
arjefm-66	270	13	.	.	PUNCT
arjefm-66	271	1	the	the	DET
arjefm-66	271	2	business	business	NOUN
arjefm-66	271	3	review	review	PROPN
arjefm-66	271	4	,	,	PUNCT
arjefm-66	271	5	cambridge	cambridge	PROPN
arjefm-66	271	6	,	,	PUNCT
arjefm-66	271	7	10	10	NUM
arjefm-66	271	8	:	:	SYM
arjefm-66	271	9	1	1	NUM
arjefm-66	271	10	-	-	SYM
arjefm-66	271	11	7	7	NUM
arjefm-66	271	12	.	.	PUNCT
arjefm-66	272	1	lim	lim	PROPN
arjefm-66	272	2	w	w	PROPN
arjefm-66	272	3	,	,	PUNCT
arjefm-66	272	4	rashid	rashid	PROPN
arjefm-66	272	5	m	m	PROPN
arjefm-66	272	6	,	,	PUNCT
arjefm-66	272	7	mitra	mitra	PROPN
arjefm-66	272	8	d.	d.	PROPN
arjefm-66	272	9	2006	2006	NUM
arjefm-66	272	10	.	.	PUNCT
arjefm-66	273	1	changes	change	NOUN
arjefm-66	273	2	in	in	ADP
arjefm-66	273	3	credit	credit	NOUN
arjefm-66	273	4	terms	term	NOUN
arjefm-66	273	5	and	and	CCONJ
arjefm-66	273	6	clientele	clientele	NOUN
arjefm-66	273	7	effects	effect	NOUN
arjefm-66	273	8	on	on	ADP
arjefm-66	273	9	the	the	DET
arjefm-66	273	10	cash	cash	NOUN
arjefm-66	273	11	discount	discount	NOUN
arjefm-66	273	12	rate	rate	NOUN
arjefm-66	273	13	in	in	ADP
arjefm-66	273	14	credit	credit	NOUN
arjefm-66	273	15	policy	policy	NOUN
arjefm-66	273	16	.	.	PUNCT
arjefm-66	274	1	review	review	NOUN
arjefm-66	274	2	of	of	ADP
arjefm-66	274	3	business	business	NOUN
arjefm-66	274	4	research	research	NOUN
arjefm-66	274	5	6	6	NUM
arjefm-66	274	6	:	:	SYM
arjefm-66	274	7	141	141	NUM
arjefm-66	274	8	-	-	SYM
arjefm-66	274	9	151	151	NUM
arjefm-66	274	10	.	.	PUNCT
arjefm-66	275	1	love	love	NOUN
arjefm-66	275	2	i	i	PRON
arjefm-66	275	3	,	,	PUNCT
arjefm-66	275	4	zaidi	zaidi	PROPN
arjefm-66	275	5	r.	r.	PROPN
arjefm-66	275	6	2003	2003	NUM
arjefm-66	275	7	.	.	PUNCT
arjefm-66	276	1	trade	trade	NOUN
arjefm-66	276	2	credit	credit	NOUN
arjefm-66	276	3	and	and	CCONJ
arjefm-66	276	4	financing	financing	NOUN
arjefm-66	276	5	constraints	constraint	NOUN
arjefm-66	276	6	:	:	PUNCT
arjefm-66	276	7	evidence	evidence	NOUN
arjefm-66	276	8	from	from	ADP
arjefm-66	276	9	the	the	DET
arjefm-66	276	10	east	east	ADJ
arjefm-66	276	11	asian	asian	ADJ
arjefm-66	276	12	crisis	crisis	NOUN
arjefm-66	276	13	.	.	PUNCT
arjefm-66	277	1	world	world	PROPN
arjefm-66	277	2	bank	bank	PROPN
arjefm-66	277	3	,	,	PUNCT
arjefm-66	277	4	washington	washington	PROPN
arjefm-66	277	5	,	,	PUNCT
arjefm-66	277	6	d.c	d.c	PROPN
arjefm-66	277	7	.	.	PROPN
arjefm-66	277	8	processed	process	VERB
arjefm-66	277	9	.	.	PUNCT
arjefm-66	278	1	maness	maness	PROPN
arjefm-66	278	2	ts	ts	PROPN
arjefm-66	278	3	,	,	PUNCT
arjefm-66	278	4	zietlow	zietlow	PROPN
arjefm-66	278	5	jt	jt	PROPN
arjefm-66	278	6	.	.	PROPN
arjefm-66	279	1	2005	2005	NUM
arjefm-66	279	2	.	.	PUNCT
arjefm-66	280	1	short	short	ADJ
arjefm-66	280	2	-	-	PUNCT
arjefm-66	280	3	term	term	NOUN
arjefm-66	280	4	financial	financial	ADJ
arjefm-66	280	5	management	management	NOUN
arjefm-66	280	6	,	,	PUNCT
arjefm-66	280	7	third	third	ADJ
arjefm-66	280	8	edition	edition	NOUN
arjefm-66	280	9	.	.	PUNCT
arjefm-66	281	1	thomson	thomson	PROPN
arjefm-66	281	2	southwestern	southwestern	PROPN
arjefm-66	281	3	.	.	PUNCT
arjefm-66	282	1	mateut	mateut	PROPN
arjefm-66	282	2	s.	s.	PROPN
arjefm-66	282	3	2005	2005	NUM
arjefm-66	282	4	.	.	PUNCT
arjefm-66	283	1	trade	trade	NOUN
arjefm-66	283	2	credit	credit	NOUN
arjefm-66	283	3	and	and	CCONJ
arjefm-66	283	4	monetary	monetary	ADJ
arjefm-66	283	5	policy	policy	NOUN
arjefm-66	283	6	transmission	transmission	NOUN
arjefm-66	283	7	.	.	PUNCT
arjefm-66	284	1	journal	journal	NOUN
arjefm-66	284	2	of	of	ADP
arjefm-66	284	3	economic	economic	ADJ
arjefm-66	284	4	surveys	survey	NOUN
arjefm-66	284	5	19	19	NUM
arjefm-66	284	6	:	:	PUNCT
arjefm-66	284	7	655	655	NUM
arjefm-66	284	8	-	-	PUNCT
arjefm-66	284	9	670	670	NUM
arjefm-66	284	10	.	.	PUNCT
arjefm-66	285	1	mailto:contact@americaserial.com	mailto:contact@americaserial.com	X
arjefm-66	285	2	mailto:contact@americaserial.com	mailto:contact@americaserial.com	PROPN
arjefm-66	285	3	william	william	PROPN
arjefm-66	285	4	lim	lim	PROPN
arjefm-66	285	5	and	and	CCONJ
arjefm-66	285	6	muhammad	muhammad	PROPN
arjefm-66	285	7	rashid	rashid	PROPN
arjefm-66	285	8	55	55	NUM
arjefm-66	285	9	american	american	PROPN
arjefm-66	285	10	research	research	PROPN
arjefm-66	285	11	journal	journal	PROPN
arjefm-66	285	12	of	of	ADP
arjefm-66	285	13	economics	economic	NOUN
arjefm-66	285	14	,	,	PUNCT
arjefm-66	285	15	finance	finance	NOUN
arjefm-66	285	16	and	and	CCONJ
arjefm-66	285	17	management	management	NOUN
arjefm-66	285	18	https://americaserial.com/journals/index.php/arjefm	https://americaserial.com/journals/index.php/arjefm	NOUN
arjefm-66	285	19	,	,	PUNCT
arjefm-66	285	20	email	email	NOUN
arjefm-66	285	21	:	:	PUNCT
arjefm-66	285	22	contact@americaserial.com	contact@americaserial.com	X
arjefm-66	286	1	55	55	NUM
arjefm-66	287	1	|	|	ADV
arjefm-66	287	2	p	p	NOUN
arjefm-66	287	3	a	a	DET
arjefm-66	287	4	g	g	PROPN
arjefm-66	287	5	e	e	PROPN
arjefm-66	287	6	journal	journal	NOUN
arjefm-66	287	7	of	of	ADP
arjefm-66	287	8	finance	finance	NOUN
arjefm-66	287	9	and	and	CCONJ
arjefm-66	287	10	bank	bank	NOUN
arjefm-66	287	11	management	management	NOUN
arjefm-66	287	12	,	,	PUNCT
arjefm-66	287	13	volume	volume	NOUN
arjefm-66	287	14	10	10	NUM
arjefm-66	287	15	,	,	PUNCT
arjefm-66	287	16	december	december	PROPN
arjefm-66	287	17	2022	2022	NUM
arjefm-66	287	18	mccallum	mccallum	PROPN
arjefm-66	287	19	bt	bt	PROPN
arjefm-66	287	20	.	.	PROPN
arjefm-66	287	21	1986	1986	NUM
arjefm-66	287	22	.	.	PUNCT
arjefm-66	288	1	on	on	ADP
arjefm-66	288	2	“	"	PUNCT
arjefm-66	288	3	real	real	ADJ
arjefm-66	288	4	”	"	PUNCT
arjefm-66	288	5	and	and	CCONJ
arjefm-66	288	6	“	"	PUNCT
arjefm-66	288	7	sticky	sticky	ADJ
arjefm-66	288	8	-	-	PUNCT
arjefm-66	288	9	price	price	NOUN
arjefm-66	288	10	”	"	PUNCT
arjefm-66	288	11	theories	theory	NOUN
arjefm-66	288	12	of	of	ADP
arjefm-66	288	13	the	the	DET
arjefm-66	288	14	business	business	NOUN
arjefm-66	288	15	cycle	cycle	NOUN
arjefm-66	288	16	.	.	PUNCT
arjefm-66	289	1	journal	journal	NOUN
arjefm-66	289	2	of	of	ADP
arjefm-66	289	3	money	money	NOUN
arjefm-66	289	4	,	,	PUNCT
arjefm-66	289	5	credit	credit	NOUN
arjefm-66	289	6	and	and	CCONJ
arjefm-66	289	7	banking	banking	NOUN
arjefm-66	289	8	18	18	NUM
arjefm-66	289	9	:	:	SYM
arjefm-66	289	10	397	397	NUM
arjefm-66	289	11	-	-	SYM
arjefm-66	289	12	414	414	NUM
arjefm-66	289	13	.	.	PUNCT
arjefm-66	290	1	meltzer	meltzer	PROPN
arjefm-66	290	2	ah	ah	INTJ
arjefm-66	290	3	.	.	PUNCT
arjefm-66	290	4	1960	1960	NUM
arjefm-66	290	5	.	.	PUNCT
arjefm-66	291	1	mercantile	mercantile	ADJ
arjefm-66	291	2	credit	credit	NOUN
arjefm-66	291	3	,	,	PUNCT
arjefm-66	291	4	monetary	monetary	ADJ
arjefm-66	291	5	policy	policy	NOUN
arjefm-66	291	6	,	,	PUNCT
arjefm-66	291	7	and	and	CCONJ
arjefm-66	291	8	size	size	NOUN
arjefm-66	291	9	of	of	ADP
arjefm-66	291	10	firms	firm	NOUN
arjefm-66	291	11	.	.	PUNCT
arjefm-66	292	1	review	review	NOUN
arjefm-66	292	2	of	of	ADP
arjefm-66	292	3	economics	economic	NOUN
arjefm-66	292	4	and	and	CCONJ
arjefm-66	292	5	statistics	statistic	NOUN
arjefm-66	292	6	42	42	NUM
arjefm-66	292	7	:	:	PUNCT
arjefm-66	292	8	429	429	NUM
arjefm-66	292	9	-	-	SYM
arjefm-66	292	10	437	437	NUM
arjefm-66	292	11	.	.	PUNCT
arjefm-66	293	1	mian	mian	PROPN
arjefm-66	293	2	sl	sl	PROPN
arjefm-66	293	3	,	,	PUNCT
arjefm-66	293	4	smith	smith	PROPN
arjefm-66	293	5	jr	jr	PROPN
arjefm-66	293	6	.	.	PUNCT
arjefm-66	294	1	cw	cw	PROPN
arjefm-66	294	2	.	.	PROPN
arjefm-66	294	3	1992	1992	NUM
arjefm-66	294	4	.	.	PUNCT
arjefm-66	295	1	accounts	account	VERB
arjefm-66	295	2	receivable	receivable	ADJ
arjefm-66	295	3	management	management	NOUN
arjefm-66	295	4	policy	policy	NOUN
arjefm-66	295	5	:	:	PUNCT
arjefm-66	295	6	theory	theory	NOUN
arjefm-66	295	7	and	and	CCONJ
arjefm-66	295	8	evidence	evidence	NOUN
arjefm-66	295	9	.	.	PUNCT
arjefm-66	296	1	journal	journal	NOUN
arjefm-66	296	2	of	of	ADP
arjefm-66	296	3	finance	finance	NOUN
arjefm-66	296	4	47	47	NUM
arjefm-66	296	5	:	:	SYM
arjefm-66	296	6	169	169	NUM
arjefm-66	296	7	-	-	SYM
arjefm-66	296	8	200	200	NUM
arjefm-66	296	9	.	.	PUNCT
arjefm-66	297	1	ng	ng	PROPN
arjefm-66	297	2	ck	ck	PROPN
arjefm-66	297	3	,	,	PUNCT
arjefm-66	297	4	smith	smith	PROPN
arjefm-66	297	5	jk	jk	PROPN
arjefm-66	297	6	,	,	PUNCT
arjefm-66	297	7	smith	smith	PROPN
arjefm-66	297	8	rl	rl	PROPN
arjefm-66	297	9	.	.	PROPN
arjefm-66	297	10	1999	1999	NUM
arjefm-66	297	11	.	.	PUNCT
arjefm-66	298	1	evidence	evidence	NOUN
arjefm-66	298	2	of	of	ADP
arjefm-66	298	3	the	the	DET
arjefm-66	298	4	determinants	determinant	NOUN
arjefm-66	298	5	of	of	ADP
arjefm-66	298	6	credit	credit	NOUN
arjefm-66	298	7	terms	term	NOUN
arjefm-66	298	8	used	use	VERB
arjefm-66	298	9	in	in	ADP
arjefm-66	298	10	interfirm	interfirm	PROPN
arjefm-66	298	11	trade	trade	NOUN
arjefm-66	298	12	.	.	PUNCT
arjefm-66	299	1	journal	journal	NOUN
arjefm-66	299	2	of	of	ADP
arjefm-66	299	3	finance	finance	NOUN
arjefm-66	299	4	54	54	NUM
arjefm-66	299	5	:	:	SYM
arjefm-66	299	6	1109	1109	NUM
arjefm-66	299	7	-	-	SYM
arjefm-66	299	8	1129	1129	NUM
arjefm-66	299	9	.	.	PUNCT
arjefm-66	300	1	rashid	rashid	PROPN
arjefm-66	300	2	m	m	PROPN
arjefm-66	300	3	,	,	PUNCT
arjefm-66	300	4	mitra	mitra	PROPN
arjefm-66	300	5	d.	d.	PROPN
arjefm-66	300	6	1999	1999	NUM
arjefm-66	300	7	.	.	PUNCT
arjefm-66	301	1	price	price	NOUN
arjefm-66	301	2	elasticity	elasticity	NOUN
arjefm-66	301	3	of	of	ADP
arjefm-66	301	4	demand	demand	NOUN
arjefm-66	301	5	and	and	CCONJ
arjefm-66	301	6	an	an	DET
arjefm-66	301	7	optimal	optimal	ADJ
arjefm-66	301	8	cash	cash	NOUN
arjefm-66	301	9	discount	discount	NOUN
arjefm-66	301	10	rate	rate	NOUN
arjefm-66	301	11	in	in	ADP
arjefm-66	301	12	credit	credit	NOUN
arjefm-66	301	13	policy	policy	NOUN
arjefm-66	301	14	.	.	PUNCT
arjefm-66	302	1	financial	financial	ADJ
arjefm-66	302	2	review	review	NOUN
arjefm-66	302	3	34	34	NUM
arjefm-66	302	4	:	:	SYM
arjefm-66	302	5	113	113	NUM
arjefm-66	302	6	-	-	SYM
arjefm-66	302	7	126	126	NUM
arjefm-66	302	8	.	.	PUNCT
arjefm-66	303	1	scherr	scherr	PROPN
arjefm-66	303	2	f.	f.	PROPN
arjefm-66	303	3	1989	1989	NUM
arjefm-66	303	4	.	.	PUNCT
arjefm-66	304	1	modern	modern	ADJ
arjefm-66	304	2	working	working	NOUN
arjefm-66	304	3	capital	capital	NOUN
arjefm-66	304	4	management	management	NOUN
arjefm-66	304	5	:	:	PUNCT
arjefm-66	304	6	text	text	NOUN
arjefm-66	304	7	and	and	CCONJ
arjefm-66	304	8	cases	case	NOUN
arjefm-66	304	9	,	,	PUNCT
arjefm-66	304	10	prentice	prentice	NOUN
arjefm-66	304	11	hall	hall	PROPN
arjefm-66	304	12	,	,	PUNCT
arjefm-66	304	13	inc	inc	PROPN
arjefm-66	304	14	.	.	PROPN
arjefm-66	304	15	:	:	PUNCT
arjefm-66	305	1	eaglewood	eaglewood	NOUN
arjefm-66	305	2	cliffs	cliffs	PROPN
arjefm-66	305	3	,	,	PUNCT
arjefm-66	305	4	nj	nj	PROPN
arjefm-66	305	5	.	.	PUNCT
arjefm-66	306	1	schwartz	schwartz	PROPN
arjefm-66	306	2	ra	ra	PROPN
arjefm-66	306	3	,	,	PUNCT
arjefm-66	306	4	whitcomb	whitcomb	PROPN
arjefm-66	306	5	d.	d.	PROPN
arjefm-66	306	6	1980	1980	NUM
arjefm-66	306	7	.	.	PUNCT
arjefm-66	307	1	the	the	DET
arjefm-66	307	2	trade	trade	NOUN
arjefm-66	307	3	credit	credit	NOUN
arjefm-66	307	4	decision	decision	NOUN
arjefm-66	307	5	.	.	PUNCT
arjefm-66	308	1	handbook	handbook	NOUN
arjefm-66	308	2	of	of	ADP
arjefm-66	308	3	financial	financial	ADJ
arjefm-66	308	4	economics	economic	NOUN
arjefm-66	308	5	,	,	PUNCT
arjefm-66	308	6	bicksler	bicksler	NOUN
arjefm-66	308	7	j	j	PROPN
arjefm-66	308	8	(	(	PUNCT
arjefm-66	308	9	ed	ed	NOUN
arjefm-66	308	10	)	)	PUNCT
arjefm-66	308	11	.	.	PUNCT
arjefm-66	309	1	northholland	northholland	PROPN
arjefm-66	309	2	:	:	PUNCT
arjefm-66	310	1	amsterdam	amsterdam	PROPN
arjefm-66	310	2	.	.	PUNCT
arjefm-66	310	3	sekine	sekine	PROPN
arjefm-66	310	4	t.	t.	PROPN
arjefm-66	310	5	2006	2006	NUM
arjefm-66	310	6	.	.	PUNCT
arjefm-66	311	1	time	time	NOUN
arjefm-66	311	2	-	-	PUNCT
arjefm-66	311	3	varying	vary	VERB
arjefm-66	311	4	exchange	exchange	NOUN
arjefm-66	311	5	rate	rate	NOUN
arjefm-66	311	6	pass	pass	NOUN
arjefm-66	311	7	-	-	PUNCT
arjefm-66	311	8	through	through	NOUN
arjefm-66	311	9	:	:	PUNCT
arjefm-66	311	10	experiences	experience	NOUN
arjefm-66	311	11	of	of	ADP
arjefm-66	311	12	some	some	DET
arjefm-66	311	13	industrial	industrial	ADJ
arjefm-66	311	14	countries	country	NOUN
arjefm-66	311	15	.	.	PUNCT
arjefm-66	312	1	bis	bis	PROPN
arjefm-66	312	2	working	working	PROPN
arjefm-66	312	3	papers	paper	NOUN
arjefm-66	312	4	no	no	INTJ
arjefm-66	312	5	.	.	NOUN
arjefm-66	313	1	202	202	NUM
arjefm-66	313	2	,	,	PUNCT
arjefm-66	313	3	bank	bank	NOUN
arjefm-66	313	4	of	of	ADP
arjefm-66	313	5	international	international	ADJ
arjefm-66	313	6	settlements	settlement	NOUN
arjefm-66	313	7	,	,	PUNCT
arjefm-66	313	8	basel	basel	PROPN
arjefm-66	313	9	switzerland	switzerland	PROPN
arjefm-66	313	10	.	.	PUNCT
arjefm-66	314	1	smith	smith	PROPN
arjefm-66	314	2	j.	j.	PROPN
arjefm-66	314	3	1987	1987	NUM
arjefm-66	314	4	.	.	PUNCT
arjefm-66	315	1	trade	trade	NOUN
arjefm-66	315	2	credit	credit	NOUN
arjefm-66	315	3	and	and	CCONJ
arjefm-66	315	4	informational	informational	ADJ
arjefm-66	315	5	asymmetry	asymmetry	NOUN
arjefm-66	315	6	.	.	PUNCT
arjefm-66	316	1	journal	journal	PROPN
arjefm-66	316	2	of	of	ADP
arjefm-66	316	3	finance	finance	PROPN
arjefm-66	316	4	42	42	NUM
arjefm-66	316	5	:	:	PUNCT
arjefm-66	316	6	863	863	NUM
arjefm-66	316	7	-	-	SYM
arjefm-66	316	8	869	869	NUM
arjefm-66	316	9	.	.	PUNCT
arjefm-66	317	1	zbaracki	zbaracki	PROPN
arjefm-66	317	2	mj	mj	PROPN
arjefm-66	317	3	,	,	PUNCT
arjefm-66	317	4	ritson	ritson	PROPN
arjefm-66	317	5	m	m	PROPN
arjefm-66	317	6	,	,	PUNCT
arjefm-66	317	7	levy	levy	NOUN
arjefm-66	317	8	d	d	NOUN
arjefm-66	317	9	,	,	PUNCT
arjefm-66	317	10	dutta	dutta	PROPN
arjefm-66	317	11	s	s	PROPN
arjefm-66	317	12	,	,	PUNCT
arjefm-66	317	13	bergen	bergen	PROPN
arjefm-66	317	14	m.	m.	NOUN
arjefm-66	317	15	2004	2004	NUM
arjefm-66	317	16	.	.	PUNCT
arjefm-66	318	1	managerial	managerial	ADJ
arjefm-66	318	2	and	and	CCONJ
arjefm-66	318	3	customer	customer	NOUN
arjefm-66	318	4	costs	cost	NOUN
arjefm-66	318	5	of	of	ADP
arjefm-66	318	6	price	price	NOUN
arjefm-66	318	7	adjustment	adjustment	NOUN
arjefm-66	318	8	:	:	PUNCT
arjefm-66	318	9	direct	direct	ADJ
arjefm-66	318	10	evidence	evidence	NOUN
arjefm-66	318	11	from	from	ADP
arjefm-66	318	12	industrial	industrial	ADJ
arjefm-66	318	13	markets	market	NOUN
arjefm-66	318	14	.	.	PUNCT
arjefm-66	319	1	review	review	NOUN
arjefm-66	319	2	of	of	ADP
arjefm-66	319	3	economics	economic	NOUN
arjefm-66	319	4	and	and	CCONJ
arjefm-66	319	5	statistics	statistic	NOUN
arjefm-66	319	6	86	86	NUM
arjefm-66	319	7	:	:	SYM
arjefm-66	319	8	514533	514533	NUM
arjefm-66	319	9	.	.	PUNCT
arjefm-66	320	1	appendix	appendix	NOUN
arjefm-66	320	2	1	1	NUM
arjefm-66	320	3	.	.	PUNCT
arjefm-66	321	1	behavioral	behavioral	ADJ
arjefm-66	321	2	specifications	specification	NOUN
arjefm-66	321	3	in	in	ADP
arjefm-66	321	4	theoretical	theoretical	ADJ
arjefm-66	321	5	model	model	NOUN
arjefm-66	321	6	a1a	a1a	PROPN
arjefm-66	321	7	.	.	PUNCT
arjefm-66	322	1	the	the	DET
arjefm-66	322	2	specification	specification	NOUN
arjefm-66	322	3	of	of	ADP
arjefm-66	322	4	p	p	X
arjefm-66	322	5	:	:	PUNCT
arjefm-66	322	6	p	p	X
arjefm-66	322	7	=	=	PUNCT
arjefm-66	322	8	p	p	X
arjefm-66	322	9	(	(	PUNCT
arjefm-66	322	10	d	d	PROPN
arjefm-66	322	11	,	,	PUNCT
arjefm-66	322	12	p	p	NOUN
arjefm-66	322	13	)	)	PUNCT
arjefm-66	322	14	,	,	PUNCT
arjefm-66	322	15	where	where	SCONJ
arjefm-66	322	16	δp	δp	ADV
arjefm-66	322	17	/	/	SYM
arjefm-66	322	18	δd	δd	X
arjefm-66	322	19	>	>	X
arjefm-66	322	20	0	0	NUM
arjefm-66	322	21	and	and	CCONJ
arjefm-66	322	22	δp	δp	ADP
arjefm-66	322	23	/	/	SYM
arjefm-66	322	24	δp=	δp=	NOUN
arjefm-66	322	25	0	0	NUM
arjefm-66	323	1	(	(	PUNCT
arjefm-66	323	2	a1	a1	PROPN
arjefm-66	323	3	)	)	PUNCT
arjefm-66	323	4	the	the	DET
arjefm-66	323	5	excess	excess	NOUN
arjefm-66	323	6	of	of	ADP
arjefm-66	323	7	the	the	DET
arjefm-66	323	8	opportunity	opportunity	NOUN
arjefm-66	323	9	cost	cost	NOUN
arjefm-66	323	10	of	of	ADP
arjefm-66	323	11	not	not	PART
arjefm-66	323	12	taking	take	VERB
arjefm-66	323	13	the	the	DET
arjefm-66	323	14	cash	cash	NOUN
arjefm-66	323	15	discount	discount	NOUN
arjefm-66	323	16	over	over	ADP
arjefm-66	323	17	individual	individual	ADJ
arjefm-66	323	18	borrowing	borrowing	NOUN
arjefm-66	323	19	rates	rate	NOUN
arjefm-66	323	20	of	of	ADP
arjefm-66	323	21	marginal	marginal	ADJ
arjefm-66	323	22	customers	customer	NOUN
arjefm-66	323	23	after	after	ADP
arjefm-66	323	24	an	an	DET
arjefm-66	323	25	increase	increase	NOUN
arjefm-66	323	26	in	in	ADP
arjefm-66	323	27	the	the	DET
arjefm-66	323	28	cash	cash	NOUN
arjefm-66	323	29	discount	discount	NOUN
arjefm-66	323	30	explains	explain	VERB
arjefm-66	323	31	why	why	SCONJ
arjefm-66	323	32	δp	δp	ADV
arjefm-66	323	33	/	/	SYM
arjefm-66	323	34	δd	δd	X
arjefm-66	323	35	>	>	X
arjefm-66	323	36	0	0	NUM
arjefm-66	323	37	.	.	PUNCT
arjefm-66	324	1	it	it	PRON
arjefm-66	324	2	is	be	AUX
arjefm-66	324	3	this	this	DET
arjefm-66	324	4	proportion	proportion	NOUN
arjefm-66	324	5	,	,	PUNCT
arjefm-66	324	6	p	p	X
arjefm-66	324	7	,	,	PUNCT
arjefm-66	324	8	which	which	PRON
arjefm-66	324	9	reflects	reflect	VERB
arjefm-66	324	10	the	the	DET
arjefm-66	324	11	demand	demand	NOUN
arjefm-66	324	12	interdependencies	interdependency	NOUN
arjefm-66	324	13	of	of	ADP
arjefm-66	324	14	the	the	DET
arjefm-66	324	15	two	two	NUM
arjefm-66	324	16	markets	market	NOUN
arjefm-66	324	17	.	.	PUNCT
arjefm-66	325	1	if	if	SCONJ
arjefm-66	325	2	a	a	DET
arjefm-66	325	3	larger	large	ADJ
arjefm-66	325	4	proportion	proportion	NOUN
arjefm-66	325	5	of	of	ADP
arjefm-66	325	6	customers	customer	NOUN
arjefm-66	325	7	take	take	VERB
arjefm-66	325	8	the	the	DET
arjefm-66	325	9	cash	cash	NOUN
arjefm-66	325	10	discount	discount	NOUN
arjefm-66	325	11	with	with	ADP
arjefm-66	325	12	an	an	DET
arjefm-66	325	13	increase	increase	NOUN
arjefm-66	325	14	in	in	ADP
arjefm-66	325	15	d	d	PROPN
arjefm-66	325	16	,	,	PUNCT
arjefm-66	325	17	demand	demand	NOUN
arjefm-66	325	18	in	in	ADP
arjefm-66	325	19	the	the	DET
arjefm-66	325	20	other	other	ADJ
arjefm-66	325	21	market	market	NOUN
arjefm-66	325	22	(	(	PUNCT
arjefm-66	325	23	those	those	PRON
arjefm-66	325	24	not	not	PART
arjefm-66	325	25	taking	take	VERB
arjefm-66	325	26	the	the	DET
arjefm-66	325	27	cash	cash	NOUN
arjefm-66	325	28	discount	discount	NOUN
arjefm-66	325	29	)	)	PUNCT
arjefm-66	325	30	must	must	AUX
arjefm-66	325	31	fall	fall	VERB
arjefm-66	325	32	.	.	PUNCT
arjefm-66	326	1	next	next	ADV
arjefm-66	326	2	,	,	PUNCT
arjefm-66	326	3	with	with	ADP
arjefm-66	326	4	a	a	DET
arjefm-66	326	5	reduction	reduction	NOUN
arjefm-66	326	6	in	in	ADP
arjefm-66	326	7	the	the	DET
arjefm-66	326	8	product	product	NOUN
arjefm-66	326	9	price	price	NOUN
arjefm-66	326	10	,	,	PUNCT
arjefm-66	326	11	the	the	DET
arjefm-66	326	12	amount	amount	NOUN
arjefm-66	326	13	of	of	ADP
arjefm-66	326	14	borrowing	borrowing	NOUN
arjefm-66	326	15	needed	need	VERB
arjefm-66	326	16	declines	decline	NOUN
arjefm-66	326	17	,	,	PUNCT
arjefm-66	326	18	which	which	PRON
arjefm-66	326	19	may	may	AUX
arjefm-66	326	20	result	result	VERB
arjefm-66	326	21	in	in	ADP
arjefm-66	326	22	lower	low	ADJ
arjefm-66	326	23	borrowing	borrowing	NOUN
arjefm-66	326	24	rates	rate	NOUN
arjefm-66	326	25	.	.	PUNCT
arjefm-66	327	1	if	if	SCONJ
arjefm-66	327	2	this	this	PRON
arjefm-66	327	3	happens	happen	VERB
arjefm-66	327	4	,	,	PUNCT
arjefm-66	327	5	then	then	ADV
arjefm-66	327	6	the	the	DET
arjefm-66	327	7	effect	effect	NOUN
arjefm-66	327	8	on	on	ADP
arjefm-66	327	9	p	p	PROPN
arjefm-66	327	10	is	be	AUX
arjefm-66	327	11	positive	positive	ADJ
arjefm-66	327	12	.	.	PUNCT
arjefm-66	328	1	on	on	ADP
arjefm-66	328	2	the	the	DET
arjefm-66	328	3	other	other	ADJ
arjefm-66	328	4	hand	hand	NOUN
arjefm-66	328	5	,	,	PUNCT
arjefm-66	328	6	with	with	ADP
arjefm-66	328	7	a	a	DET
arjefm-66	328	8	reduction	reduction	NOUN
arjefm-66	328	9	in	in	ADP
arjefm-66	328	10	product	product	NOUN
arjefm-66	328	11	price	price	NOUN
arjefm-66	328	12	,	,	PUNCT
arjefm-66	328	13	quantity	quantity	NOUN
arjefm-66	328	14	demanded	demand	VERB
arjefm-66	328	15	rises	rise	NOUN
arjefm-66	328	16	,	,	PUNCT
arjefm-66	328	17	requiring	require	VERB
arjefm-66	328	18	more	more	ADJ
arjefm-66	328	19	borrowing	borrowing	NOUN
arjefm-66	328	20	and	and	CCONJ
arjefm-66	328	21	perhaps	perhaps	ADV
arjefm-66	328	22	higher	high	ADJ
arjefm-66	328	23	borrowing	borrowing	NOUN
arjefm-66	328	24	rates	rate	NOUN
arjefm-66	328	25	.	.	PUNCT
arjefm-66	329	1	if	if	SCONJ
arjefm-66	329	2	this	this	PRON
arjefm-66	329	3	happens	happen	VERB
arjefm-66	329	4	,	,	PUNCT
arjefm-66	329	5	then	then	ADV
arjefm-66	329	6	the	the	DET
arjefm-66	329	7	effect	effect	NOUN
arjefm-66	329	8	on	on	ADP
arjefm-66	329	9	p	p	PROPN
arjefm-66	329	10	is	be	AUX
arjefm-66	329	11	negative	negative	ADJ
arjefm-66	329	12	.	.	PUNCT
arjefm-66	330	1	it	it	PRON
arjefm-66	330	2	is	be	AUX
arjefm-66	330	3	difficult	difficult	ADJ
arjefm-66	330	4	to	to	PART
arjefm-66	330	5	know	know	VERB
arjefm-66	330	6	which	which	PRON
arjefm-66	330	7	of	of	ADP
arjefm-66	330	8	the	the	DET
arjefm-66	330	9	two	two	NUM
arjefm-66	330	10	opposing	opposing	ADJ
arjefm-66	330	11	effects	effect	NOUN
arjefm-66	330	12	is	be	AUX
arjefm-66	330	13	stronger	strong	ADJ
arjefm-66	330	14	.	.	PUNCT
arjefm-66	331	1	therefore	therefore	ADV
arjefm-66	331	2	,	,	PUNCT
arjefm-66	331	3	we	we	PRON
arjefm-66	331	4	let	let	VERB
arjefm-66	331	5	δp	δp	ADP
arjefm-66	331	6	/	/	SYM
arjefm-66	331	7	δp=	δp=	NOUN
arjefm-66	331	8	0	0	PUNCT
arjefm-66	331	9	throughout	throughout	NOUN
arjefm-66	331	10	.	.	PUNCT
arjefm-66	332	1	a1b	a1b	PROPN
arjefm-66	332	2	.	.	PUNCT
arjefm-66	333	1	the	the	DET
arjefm-66	333	2	specification	specification	NOUN
arjefm-66	333	3	of	of	ADP
arjefm-66	333	4	λ	λ	PROPN
arjefm-66	333	5	:	:	PUNCT
arjefm-66	333	6	λ	λ	X
arjefm-66	333	7	=	=	SYM
arjefm-66	333	8	λ	λ	X
arjefm-66	333	9	(	(	PUNCT
arjefm-66	333	10	d	d	PROPN
arjefm-66	333	11	,	,	PUNCT
arjefm-66	333	12	p	p	NOUN
arjefm-66	333	13	)	)	PUNCT
arjefm-66	333	14	,	,	PUNCT
arjefm-66	333	15	where	where	SCONJ
arjefm-66	333	16	δλ	δλ	NOUN
arjefm-66	333	17	/	/	SYM
arjefm-66	333	18	δd	δd	AUX
arjefm-66	333	19	≤	≤	NOUN
arjefm-66	333	20	0	0	NUM
arjefm-66	333	21	and	and	CCONJ
arjefm-66	333	22	δλ	δλ	NOUN
arjefm-66	333	23	/	/	SYM
arjefm-66	333	24	δp	δp	NOUN
arjefm-66	333	25	=	=	SYM
arjefm-66	333	26	0	0	NUM
arjefm-66	333	27	(	(	PUNCT
arjefm-66	333	28	a2	a2	PROPN
arjefm-66	333	29	)	)	PUNCT
arjefm-66	333	30	δλ	δλ	PROPN
arjefm-66	333	31	/	/	SYM
arjefm-66	333	32	δd	δd	NOUN
arjefm-66	333	33	=	=	SYM
arjefm-66	333	34	0	0	NUM
arjefm-66	333	35	requires	require	VERB
arjefm-66	333	36	that	that	SCONJ
arjefm-66	333	37	among	among	ADP
arjefm-66	333	38	the	the	DET
arjefm-66	333	39	customers	customer	NOUN
arjefm-66	333	40	who	who	PRON
arjefm-66	333	41	are	be	AUX
arjefm-66	333	42	not	not	PART
arjefm-66	333	43	taking	take	VERB
arjefm-66	333	44	the	the	DET
arjefm-66	333	45	cash	cash	NOUN
arjefm-66	333	46	discount	discount	NOUN
arjefm-66	333	47	,	,	PUNCT
arjefm-66	333	48	the	the	DET
arjefm-66	333	49	percentage	percentage	NOUN
arjefm-66	333	50	of	of	ADP
arjefm-66	333	51	those	those	PRON
arjefm-66	333	52	who	who	PRON
arjefm-66	333	53	would	would	AUX
arjefm-66	333	54	have	have	AUX
arjefm-66	333	55	paid	pay	VERB
arjefm-66	333	56	on	on	ADP
arjefm-66	333	57	day	day	NOUN
arjefm-66	333	58	n2	n2	NOUN
arjefm-66	333	59	and	and	CCONJ
arjefm-66	333	60	the	the	DET
arjefm-66	333	61	percentage	percentage	NOUN
arjefm-66	333	62	of	of	ADP
arjefm-66	333	63	those	those	PRON
arjefm-66	333	64	who	who	PRON
arjefm-66	333	65	would	would	AUX
arjefm-66	333	66	have	have	AUX
arjefm-66	333	67	defaulted	default	VERB
arjefm-66	333	68	is	be	AUX
arjefm-66	333	69	unchanged	unchanged	ADJ
arjefm-66	333	70	after	after	ADP
arjefm-66	333	71	an	an	DET
arjefm-66	333	72	increase	increase	NOUN
arjefm-66	333	73	in	in	ADP
arjefm-66	333	74	the	the	DET
arjefm-66	333	75	cash	cash	NOUN
arjefm-66	333	76	discount	discount	NOUN
arjefm-66	333	77	.	.	PUNCT
arjefm-66	334	1	δλ	δλ	X
arjefm-66	334	2	/	/	SYM
arjefm-66	334	3	δd	δd	X
arjefm-66	334	4	>	>	PRON
arjefm-66	334	5	0	0	NUM
arjefm-66	334	6	implies	imply	VERB
arjefm-66	334	7	that	that	SCONJ
arjefm-66	334	8	,	,	PUNCT
arjefm-66	334	9	with	with	ADP
arjefm-66	334	10	an	an	DET
arjefm-66	334	11	increase	increase	NOUN
arjefm-66	334	12	in	in	ADP
arjefm-66	334	13	the	the	DET
arjefm-66	334	14	cash	cash	NOUN
arjefm-66	334	15	discount	discount	NOUN
arjefm-66	334	16	,	,	PUNCT
arjefm-66	334	17	customers	customer	NOUN
arjefm-66	334	18	who	who	PRON
arjefm-66	334	19	would	would	AUX
arjefm-66	334	20	have	have	AUX
arjefm-66	334	21	defaulted	default	VERB
arjefm-66	334	22	as	as	ADP
arjefm-66	334	23	a	a	DET
arjefm-66	334	24	fraction	fraction	NOUN
arjefm-66	334	25	of	of	ADP
arjefm-66	334	26	the	the	DET
arjefm-66	334	27	customers	customer	NOUN
arjefm-66	334	28	who	who	PRON
arjefm-66	334	29	do	do	AUX
arjefm-66	334	30	not	not	PART
arjefm-66	334	31	take	take	VERB
arjefm-66	334	32	the	the	DET
arjefm-66	334	33	cash	cash	NOUN
arjefm-66	334	34	discount	discount	NOUN
arjefm-66	334	35	decrease	decrease	NOUN
arjefm-66	334	36	.	.	PUNCT
arjefm-66	335	1	this	this	DET
arjefm-66	335	2	effect	effect	NOUN
arjefm-66	335	3	is	be	AUX
arjefm-66	335	4	quite	quite	ADV
arjefm-66	335	5	unlikely	unlikely	ADJ
arjefm-66	335	6	.	.	PUNCT
arjefm-66	336	1	thus	thus	ADV
arjefm-66	336	2	,	,	PUNCT
arjefm-66	336	3	we	we	PRON
arjefm-66	336	4	postulate	postulate	VERB
arjefm-66	336	5	that	that	SCONJ
arjefm-66	336	6	δλ	δλ	NOUN
arjefm-66	336	7	/	/	SYM
arjefm-66	336	8	δd	δd	PROPN
arjefm-66	336	9	is	be	AUX
arjefm-66	336	10	either	either	CCONJ
arjefm-66	336	11	negative	negative	ADJ
arjefm-66	336	12	or	or	CCONJ
arjefm-66	336	13	has	have	VERB
arjefm-66	336	14	the	the	DET
arjefm-66	336	15	highest	high	ADJ
arjefm-66	336	16	value	value	NOUN
arjefm-66	336	17	of	of	ADP
arjefm-66	336	18	zero	zero	NUM
arjefm-66	336	19	.	.	PUNCT
arjefm-66	337	1	initially	initially	ADV
arjefm-66	337	2	we	we	PRON
arjefm-66	337	3	would	would	AUX
arjefm-66	337	4	let	let	VERB
arjefm-66	337	5	δλ	δλ	VERB
arjefm-66	337	6	/	/	SYM
arjefm-66	337	7	δd=0	δd=0	VERB
arjefm-66	337	8	.	.	PUNCT
arjefm-66	338	1	with	with	ADP
arjefm-66	338	2	δp	δp	ADP
arjefm-66	338	3	/	/	SYM
arjefm-66	338	4	δp=0	δp=0	PROPN
arjefm-66	338	5	,	,	PUNCT
arjefm-66	338	6	we	we	PRON
arjefm-66	338	7	may	may	AUX
arjefm-66	338	8	expect	expect	VERB
arjefm-66	338	9	the	the	DET
arjefm-66	338	10	bad	bad	ADJ
arjefm-66	338	11	-	-	PUNCT
arjefm-66	338	12	debt	debt	NOUN
arjefm-66	338	13	loss	loss	NOUN
arjefm-66	338	14	(	(	PUNCT
arjefm-66	338	15	1	1	NUM
arjefm-66	338	16	-	-	PUNCT
arjefm-66	338	17	p)(1	p)(1	NOUN
arjefm-66	338	18	-	-	PUNCT
arjefm-66	338	19	λ	λ	NOUN
arjefm-66	338	20	)	)	PUNCT
arjefm-66	338	21	to	to	PART
arjefm-66	338	22	increase	increase	VERB
arjefm-66	338	23	when	when	SCONJ
arjefm-66	338	24	the	the	DET
arjefm-66	338	25	product	product	NOUN
arjefm-66	338	26	price	price	NOUN
arjefm-66	338	27	increases	increase	NOUN
arjefm-66	338	28	(	(	PUNCT
arjefm-66	338	29	i.e.	i.e.	X
arjefm-66	338	30	,	,	PUNCT
arjefm-66	338	31	δλ	δλ	NOUN
arjefm-66	338	32	/	/	SYM
arjefm-66	338	33	δp<0	δp<0	NOUN
arjefm-66	338	34	)	)	PUNCT
arjefm-66	338	35	.	.	PUNCT
arjefm-66	339	1	however	however	ADV
arjefm-66	339	2	,	,	PUNCT
arjefm-66	339	3	with	with	ADP
arjefm-66	339	4	a	a	DET
arjefm-66	339	5	uniform	uniform	ADJ
arjefm-66	339	6	mailto:contact@americaserial.com	mailto:contact@americaserial.com	X