We present a model that characterizes the relationship between optimal dynamic cash management and the choice of the … holdings are low, a pattern recently documented by households data from several countries. The average level of cash and the … produces a rich set of over-identifying restrictions for consumers' cash-management and payment choices which can be tested …

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 …

approximate the realized data on inventories. We do this initially for the pure production smoothing model and then for a sequence …, observed cost shocks, properly measured, and to a lesser extent stockout avoidance motives, appears to well approximate monthly …

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 …

output, inventories,prices,and exchange rates in the medium-sized economies of the world. The model is consistent with the … major empirical regularities that have been discovered in studies of business cycles as closed-economy phenomena and in … empirical studies of prices and exchange rates. The empirical regularities are (i) changes in the nominal money supply cause …

methods that assess the plausibility of generalizing LATE to subpopulations other than compliers, and to subpopulations other … distributions of potential outcomes for treated compliers and always-takers, and for non-treated compliers and never-takers. We show … that equality of these pairs of distributions implies that the expected outcome conditional on the forcing variable and the …

Improved health, equity, macro-economic efficiency, efficient provision of care, and client satisfaction are the common … goals of the health system. The relative significance of these goals varies, however, across nations, communities, and with … options for each of the following elements: sources of finance, allocation of finance, pay to providers, and public …

This study documents a strong inverse relationship between accident rates and production in a sample of eleven firms in … the same narrowly defined industry classification. Given the detailed set of input controls and controls for plant …-specific and time-specific factors used in the analysis, the study argues that a theoretical framework that describes firms as …

indicator I(R > R0) plays the role of the instrument. Recently, Keane and Neal (2023, 2024) showed that 2SLS t-tests suffer from … Fuzzy RD t-test has little power to detect true negative effects, and inflated power to find false positives. The problem …

general equilibrium models that endogenously give rise to inventory investment and evaluate two leading candidates: the (S …,s) model and the stockout avoidance model. Each model is examined under both technology shocks and preference shocks, and its … regularities such as the procyclicality of inventory investment and its positive correlation with sales. We find that the (S …