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Disequilibrium Dynamics with Inventories and Anticipatory Price-Setting : Some Impirical Results
Green, Jerry; Laffont, Jean-Jacques - 2021
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/10013236715
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Inventories
Ramey, Valerie A.; West, Kenneth D. - 2021
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/10013210702
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Inventories, Rational Expectations, and the Business Cycle
Blinder, Alan S.; Fischer, Stanley - 2022
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/10014135401
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A Conic Algorithm for the Group Minimization Problem
Simeone, Bruno - 2021
A new algorithm for the group minimization problem (GP) is proposed. The algorithm can be broadly described as follows …-known algorithm of Glover, and checked for non-negativity. The first non-negative point is an optimal solution of (GP). Advantages and … disadvantages of the algorithm are discussed; in particular, the implementation of the algorithm (which can be easily extended so as …
Persistent link: https://www.econbiz.de/10013224215
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Inventory Models
West, Kenneth D. - 2021
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/10013226948
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An Economic Approach to Regulating Algorithms
Rambachan, Ashesh; Kleinberg, Jon; Mullainathan, Sendhil; … - 2022
algorithm herself, her equity preference has no effect on the training procedure. So long as the data, however biased, contain … signal, they will be used and the learning algorithm will be the same. Equity preferences alone provide no reason to alter …
Persistent link: https://www.econbiz.de/10013307510
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Inventories, Markups, and Real Rigidities in Menu Cost Models
Kryvtsov, Oleksiy - 2010
Real rigidities that limit the responsiveness of real marginal cost to output are a key ingredient of sticky price models necessary to account for the dynamics of output and inflation. We argue here, in the spirit of Bils and Kahn (2000), that the behavior of marginal cost over the cycle is...
Persistent link: https://www.econbiz.de/10012757994
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Inventories, Lumpy Trade, and Large Devaluations
Alessandria, George - 2010
Fixed transaction costs and delivery lags are important costs of international trade. These costs lead firms to import infrequently and hold substantially larger inventories of imported goods than domestic goods. Using multiple sources of data, we document these facts. We then show that a...
Persistent link: https://www.econbiz.de/10012759539
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What Inventory Behavior Tells Us About Business Cycles
Bils, Mark; Kahn, James A. - 2021
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/10013222235
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Leverage as a State Variable for Employment, Inventory Accumulation, Andfixed Investment
Calomiris, Charles W.; Orphanides, Athanasios; Sharpe, … - 2021
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/10013247267