Product availability impacts many industries such as transportation, events, and retail, yet little empirical evidence … experiments, exogenously removing top-selling products from a set of vending machines and analyzing substitution patterns and … profit impacts of the changed product availability using nonparametric analyses and structural demand estimation. We find …

literature. We will analyze how the level of inventories interacts with the level of prices and wages, and how the spillover … these can be used to discriminate between a model of the type we study and the analogous flexible-price system. In section 2 … we set out the basic model and discuss its assumptions. Section 3 derives the short-run quantity-constrained equilibrium …

The simplest macroeconomic models in which markets clear instantaneously, and expectations are rational preclude the …, first, that current output should be a decreasing function of the stock of inventories and, second, that inventories, once … macroeconomic model in which markets clear instantaneously and expectations are rational. Two principal conclusions are reached …

We review and interpret recent work on inventories, emphasizing empirical and business cycle aspects. We begin by … explanations are simple enough and have support support from a number of papers. Both assume that there are persistent shocks to … demand for the good in question, and that marginal production cost slopes up. The first explanation assumes as well that …

choice of instruments, covariance matrix estimation, methods for testing, and implications of unit root nonstationarity. The … paper also briefly discusses estimation of a decision rule implied by the model, and, finally, the impliations for inventory …

paper develops an alternative theory in which industries are made up of large plants producing standardized goods and small … estimates of plant counts in the standardized and specialty segments by industry. The estimated model fits the data relatively …

We develop a stylized model that captures the phenomena of decoupling and recoupling in an environment where … adverse shocks, a financially constrained sector must reduce its borrowing and cut down on production. In particular, as the … constrained sector absorbs less and less capital, the real interest rate in the economy declines. Other sectors that compete for …

match this management data to production and energy usage information for establishments owned by these firms. We find that … establishments in better managed firms are significantly less energy intensive. They use less energy per unit of output, and also in … controls for industry, location, technology and other factor inputs. Better managed firms are also significantly more …

The inefficiencies related to endogenous product creation and variety under monopolistic competition are two-fold: one … static--the misalignment between consumers and producers regarding the value of a new variety; and one dynamic … taxation schemes can implement the optimum amount of entry and variety. Elastic labor introduces a further distortion that …

perform in a world where offshoring is prevalent? In this paper we provide answers to these questions, and thereby initiate … the study of trade agreements in the presence of offshoring. We do so by deriving the Nash and internationally efficient …, contracts governing these transactions are incomplete, and the matching between final-good producers and input suppliers may …