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Ramey, Valerie A. - 1997

We review and interpret recent work on inventories, emphasizing empirical and business cycle aspects. We begin by documenting two empirical regularities about inventories. The first is the well-known one that inventories move procyclically. The second is that inventory movements are quite...

Persistent link: https://www.econbiz.de/10012472499

Inventory Models

West, Kenneth D. - 1993

Econometric aspects of recent research on inventory models are surveyed. The discussion emphasizes issues relevant to instrumental variables estimation of a first order condition of the Holt et al. (1960) linear quadratic inventory model, including choice of instruments, covariance matrix...

Persistent link: https://www.econbiz.de/10012474501

Disequilibrium Dynamics with Inventories and Anticipatory Price-Setting : Some Impirical Results

Green, Jerry R. - 1980

The basic assumption of this paper is an attempt to be specific about price formation while retaining a fixed-price, quantity-constrained equilibration in the short-run. The second theme of this paper is the role of inventories in macrodynamics a topic of long-recognized importance, but one...

Persistent link: https://www.econbiz.de/10012478692

Inventories, Rational Expectations, and the Business Cycle

Blinder, Alan S. - 1979

The simplest macroeconomic models in which markets clear instantaneously, and expectations are rational preclude the existence of "business cycles," that is, of serially correlated deviations of output from trend. This paper studies one of several mechanisms that can be used to make these...

Persistent link: https://www.econbiz.de/10012478767

Conflict and Deterrence under Strategic Risk

Chassang, Sylvain - 2008

obtained in a complete information setting, where coordination is easy, to those obtained in a setting with strategic risk … deterrent effect under complete information, this does not hold anymore under strategic risk. Rather, we find that increases in … weapon stocks can have a non-monotonic effect on the sustainability of peace. We also show that under strategic risk …

Persistent link: https://www.econbiz.de/10012464685

You Only Die Once : Managing Discrete Interdependent Risks

Heal, Geoffrey - 2003

discrete interdependent risks with heterogeneous agents. There is a threat of an event that can only happen once, and the risk … depends on actions taken by others. Any agent's incentive to invest in managing the risk depends on the actions of others …. Security problems at airlines and in computer networks come into this category, as do problems of risk management in …

Persistent link: https://www.econbiz.de/10012468812

Trading on Sunspots

Jovanovic, Boyan - 2014

In a model with multiple Pareto-ranked equilibria we add trade in assets that pay based on the realization of a sunspot. Asset trading restricts the equilibrium set in a way that raises welfare by eliminating equilibria with a high likelihood of disasters. When the probability of a disaster is...

Persistent link: https://www.econbiz.de/10012457853

What Inventory Behavior Tells Us About Business Cycles

Bils, Mark - 1999

Manufacturers' finished goods inventories move less than shipments over the business cycle. We argue that this requires marginal cost to be more procyclical than is conventionally measured. We construct, for six manufacturing industries, alternative measures of marginal cost that attribute...

Persistent link: https://www.econbiz.de/10012471474

Aggregate Job Destruction and Inventory Liquidation

Hall, Robert E. - 1999

In a recession, jobs are destroyed and inventories are liquidated. I concentrate on the intertemporal mechanisms that result in economy-wide job destruction and inventory runoffs. Forces that raise the real interest rate -- especially temporarily -- also cause destruction and runoffs. I consider...

Persistent link: https://www.econbiz.de/10012471899

Leverage as a State Variable for Employment, Inventory Accumulation, andFixed Investment

Calomiris, Charles W. - 1994

The importance of a firm's balance sheet for determining its investment and employment decisions is the central assumption of macroeconomic models of 'debt deflation' or 'debt overhang.' According to these models, firm investment decisions are influenced not only by the fundamental opportunity...

Persistent link: https://www.econbiz.de/10012474120

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