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the role of expectations and inventories in the business cycle. Prices are fixed at the beginning of each period but … with stochastic rationing. Producers hold inventories if they do not succeed to sell all their supply in the current period …
Persistent link: https://www.econbiz.de/10005706178
This paper investigates monetary shocks and the rôle of inventories with respect to the occurrence of deflationary … adjustment between successive periods. By amplifying spillover effects inventories imply that, following a restrictive monetary …
Persistent link: https://www.econbiz.de/10005706307
Persistent link: https://www.econbiz.de/10005706651
There is now considerable evidence that business cycle variation in output and employment in the U.S. differs in expansions and contractions. We present nonparametric evidence that asymmetries are strongest in durable goods manufacturing. In a Markov switching framework, we find two leading...
Persistent link: https://www.econbiz.de/10005537608
Persistent link: https://www.econbiz.de/10005537810