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Has Inventory Investment Been Liquidity-Constrained? Evidence From U.S. Panel Data
Kim, Yungsan; Choi, Woon Gyu - International Monetary Fund (IMF) - 2001
Based on an analysis of high-frequency panel data for U.S. firms, this paper finds that inventory investment has been liquidity-constrained in most periods during 1975-97, but less so, or not at all, during recessions. This result can be justified on the grounds that inventory fluctuations are...
Persistent link: https://www.econbiz.de/10005826199
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A Puzzle of Microstructure Market Maker Models
Romeu, Rafael - International Monetary Fund (IMF) - 2004
through which dealer inventories evolve. This approach is consistent with inventory evolution data and with general …
Persistent link: https://www.econbiz.de/10005826395
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How Commodity Price Curves and Inventories React to a Short-Run Scarcity Shock
Erbil, Nese; Roache, Shaun K. - International Monetary Fund (IMF) - 2010
curve? We find long-run relationships between spot and futures prices, inventories and interest rates, which means that such … inventories are used to absorb the shock. Importantly, the pace and nature of the adjustment depends upon whether inventories were …
Persistent link: https://www.econbiz.de/10008671285
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Cyclical Behavior of Inventories and Growth Projections Recent Evidence From Europe and the United States
Hoffmaister, Alexander W.; Clausen, Jens R. - International Monetary Fund (IMF) - 2010
-stock model where supply shocks dominate. In contrast to the United States, inventories boost growth with a one-year lag in Europe …. Moreover, inventories provide limited information to improve growth forecasts particularly when a modified buffer-stock model …
Persistent link: https://www.econbiz.de/10008671314
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Why Has Japan Been Hit So Hard by the Global Recession?
Sommer, Martin - International Monetary Fund (IMF) - 2009
Persistent link: https://www.econbiz.de/10010790476
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China's Impacton World Commodity Markets
Roache, Shaun K. - International Monetary Fund (IMF) - 2012
Shocks to aggregate activity in China have a significant and persistent short-run impact on the price of oil and some base metals. In contrast, shocks to apparent commodity-specific consumption (in part reflecting inventory demand) have no effect on commodity prices. China’s impact on...
Persistent link: https://www.econbiz.de/10011142150
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An Intraday Pricing Model of Foreign Exchange Markets
Romeu, Rafael - International Monetary Fund (IMF) - 2003
Market makers learn about asset values as they set intraday prices and absorb portfolio flows. Absorbing these flows causes inventory imbalances. Previous work has argued that market makers change prices to manage incoming flows and offset inventory imbalances. This study argues that they have...
Persistent link: https://www.econbiz.de/10005769015
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Import-Reducing Effect of Trade Barriers; A Cross-Country Investigation
Wang, Qing - International Monetary Fund (IMF) - 2001
A comprehensive empirical investigation is carried out to ascertain the import-reducing effect of trade protection barriers. We first present a statistical summary of the status of global trade protection. Then, based on a monopolistic competition trade model and 1994 cross-country data on trade...
Persistent link: https://www.econbiz.de/10005605035
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Changes in Inventories in the National Accounts
Fassler, Segismundo; Shrestha, Manik L. - International Monetary Fund (IMF) - 2003
The principles underlying the recording of changes in inventories are explained in the System of National Accounts … techniques and their underlying assumptions for calculating changes in inventories and holding gains when only data on stocks of … inventories are available. Several data situations are considered. The authors propose methods for measuring changes in …
Persistent link: https://www.econbiz.de/10005263775
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Chile; Selected Issues
International Monetary Fund (IMF); International … - 2013
This Selected Issues paper for Chile describes the postcrisis recovery experience. The recovery from the 2008–2009 global crisis has been markedly different both among advanced and emerging economies. The steady improvement in the labor wedge-distortions related to the consumption leisure...
Persistent link: https://www.econbiz.de/10011243850