Jung, Yongseung; Yun, Tack - Federal Reserve Bank of San Francisco - 2005
Much of business cycles literature has emphasized that inventory behavior is an important
factor in understanding the … why inventory investment is not more procyclical over phases of business cycles. For
example, Bils and Kahn (2000) have … the cyclical
behavior of real marginal cost over business cycles. It has been known in the recent lit-
erature on business …