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The multiplier: a general equilibrium analysis of multi-stage-fabrication economy with inventories

Wen, Yi - Federal Reserve Bank of St. Louis - 2005

This paper provides a general equilibrium multi-stage production model to explain the co-existence and co-movement of output- and input-inventories. The model offers a neoclassical perspective on the propagation mechanism of demand uncertainty. It reveals that uncertainty in demand at downstream...

Persistent link: https://www.econbiz.de/10005352962

Production and inventory behavior of capital

Wen, Yi - Federal Reserve Bank of St. Louis - 2005

This paper provides a dynamic optimization model of durable good inventories to study the interactions between investment demand and production of capital goods. There are three major findings: First, capital suppliers' inventory behavior makes investment demand more volatile in equilibrium;...

Persistent link: https://www.econbiz.de/10005490954

The cost of business cycles with heterogeneous trading technologies

Chien, YiLi - Federal Reserve Bank of St. Louis - 2014

technologies. In an economy with aggregate risk, the different portfolio choices induced by heterogeneous trading technologies lead … with a reasonable low risk aversion rate, the business cycle costs 6.49% per period consumption for an average household … when I calibrate this model to match the risk premium. …

Persistent link: https://www.econbiz.de/10010798471

Can risk explain the profitability of technical trading in currency markets?

Neely, Christopher; Ivanova, Yuliya; Rapach, David E.; … - Federal Reserve Bank of St. Louis - 2014

returns over long periods of time. However, the approach to risk adjustment has typically been rather cursory, and has tended …

Persistent link: https://www.econbiz.de/10011027337

Financial risk : theory, evidence and implications ; proceedings of the 11th annual Economic Policy Conference of the Federal Reserve Bank of St. Louis

Stone, Courtenay C. (contributor) - 1989

Persistent link: https://www.econbiz.de/10000769878

Money, liquidity and welfare

Wen, 文一 - Federal Reserve Bank of St. Louis - 2014

welfare costs of inflation arise because inflation increases consumption risk by eroding the buffer-stock-insurance value of … money, thus hindering consumption smoothing at the household level. Such an inflation-induced increase in consumption risk …

Persistent link: https://www.econbiz.de/10010739561

Foreign direct investment in China: a spatial econometric study

Coughlin, Cletus C.; Segev, Eran - Federal Reserve Bank of St. Louis - 1999

Foreign direct investment (FDI) began to flow into China with advent of reforms in 1978. Following a period of relatively slow growth, FDI inflows to China picked up after 1990, as China surpassed every other nation but the United States in attracting foreign investment. In particular, coastal...

Persistent link: https://www.econbiz.de/10005360547

State government effects on the spatial distribution of inward foreign direct investment

Coughlin, Cletus C.; Terza, Joseph V.; Arromdee, Vachira - Federal Reserve Bank of St. Louis - 1987

assistance tended to have larger numbers of foreign direct investments. …

Persistent link: https://www.econbiz.de/10005360554

Asset allocation under multivariate regime switching

Guidolin, Massimo; Timmerman, Allan - Federal Reserve Bank of St. Louis - 2006

This paper studies asset allocation decisions in the presence of regime switching in asset returns. We find evidence that four separate regimes - characterized as crash, slow growth, bull and recovery states - are required to capture the joint distribution of stock and bond returns. Optimal...

Persistent link: https://www.econbiz.de/10005360566

Home bias and high turnover in an overlapping generations model with learning

Guidolin, Massimo - Federal Reserve Bank of St. Louis - 2005

concerning foreign fundamentals. On a learning path, differences in beliefs and estimation risk generate portfolio biases similar …

Persistent link: https://www.econbiz.de/10005360597

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