The uncertain and sequential trading (UST) model of inventories behavior with iid shocks predicts that (a) the beginning of period inventories is a sufficient statistic for past variables and (b) an increase in the beginning of period inventories reduces output, employment, hours per employee, and effort. I find empirical support for the second hypothesis but not for the first. The rejection of the first hypothesis is rather informative and points in the direction of adjustment costs and/or serially correlated shocks. (Copyright: Elsevier)inventories; business cycle
From quarterly postwar US and French data, this paper provides evidence of a bounce-back effect in i...
From quarterly postwar US and French data, this paper provides evidence of a bounce-back effect in i...
From quarterly postwar US and French data, this paper provides evidence of a bounce-back effect in i...
This thesis analyses inventories empirically and theoretically. Inventories are important in underst...
I introduce inside money and serially correlated supply shocks to the Uncertain and Sequential Tradi...
We develop an equilibrium business cycle model where nonconvex delivery costs lead producers of fina...
The paper looks at the role of inventories in U.S. business cycles and fluctuations. It concentrates...
Changes in the stock of inventories are important for uctuations in aggregate output. How-ever, the ...
The procyclicality of inventory investment is a central feature of US business cycles. As such, it p...
This paper studies the dynamic properties of an imperfectly competitive economy with inventory holdi...
Careful examination of aggregate data from the U.S. and other OECD countries reveals that production...
From quarterly postwar US and French data, this paper provides evidence of a bounce-back effect in i...
From quarterly postwar US and French data, this paper provides evidence of a bounce-back effect in i...
From quarterly postwar US and French data, this paper provides evidence of a bounce-back effect in i...
From quarterly postwar US and French data, this paper provides evidence of a bounce-back effect in i...
From quarterly postwar US and French data, this paper provides evidence of a bounce-back effect in i...
From quarterly postwar US and French data, this paper provides evidence of a bounce-back effect in i...
From quarterly postwar US and French data, this paper provides evidence of a bounce-back effect in i...
This thesis analyses inventories empirically and theoretically. Inventories are important in underst...
I introduce inside money and serially correlated supply shocks to the Uncertain and Sequential Tradi...
We develop an equilibrium business cycle model where nonconvex delivery costs lead producers of fina...
The paper looks at the role of inventories in U.S. business cycles and fluctuations. It concentrates...
Changes in the stock of inventories are important for uctuations in aggregate output. How-ever, the ...
The procyclicality of inventory investment is a central feature of US business cycles. As such, it p...
This paper studies the dynamic properties of an imperfectly competitive economy with inventory holdi...
Careful examination of aggregate data from the U.S. and other OECD countries reveals that production...
From quarterly postwar US and French data, this paper provides evidence of a bounce-back effect in i...
From quarterly postwar US and French data, this paper provides evidence of a bounce-back effect in i...
From quarterly postwar US and French data, this paper provides evidence of a bounce-back effect in i...
From quarterly postwar US and French data, this paper provides evidence of a bounce-back effect in i...
From quarterly postwar US and French data, this paper provides evidence of a bounce-back effect in i...
From quarterly postwar US and French data, this paper provides evidence of a bounce-back effect in i...
From quarterly postwar US and French data, this paper provides evidence of a bounce-back effect in i...