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Why are inventory-sales ratios at U.S. auto dealerships so high?

Dunn, Wendy E.; Vine, Daniel J. - 2016

Motor vehicle dealerships in the United States tend to hold inventories equivalent to around 65 days' worth of sales, a relatively high level that has been nearly unchanged for 50 years. Despite playing a prominent role in the volatility of U.S. business cycles, very little is known about why...

Persistent link: https://www.econbiz.de/10011500411

Capital misallocation and secular stagnation

Caggese, Andrea; Pérez, Ander - 2017 - This version: January 17, 2017

The widespread emergence of intangible technologies in recent decades may have significantly hurt output growth -- even when these technologies replaced considerably less productive tangible technologies -- because of structurally low interest rates caused by demographic forces. This insight is...

Persistent link: https://www.econbiz.de/10011708126

Mixed signals : investment distortions with adverse selection

Darst, R. Matthew; Refayet, Ehraz - 2019

We study how adverse selection distorts equilibrium investment allocations in a Walrasian credit market with two …-sided heterogeneity. Representative investor and partial equilibrium economies are special cases where investment allocations are … trade and investment allocations below perfect information levels. The degree of heterogeneity between informed agents' type …

Persistent link: https://www.econbiz.de/10012181247