Narrow search
Showing 1 - 10 of 7,276
Cover Image
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 … effects in a fixed-price equilibrium produce certain testable characteristics in macro time series data. We will argue that … these can be used to discriminate between a model of the type we study and the analogous flexible-price system. In section 2 …
Persistent link: https://www.econbiz.de/10012478692
Cover Image
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
Cover Image
Inventories
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
Cover Image
The Sources of Fluctuations in Aggregate Inventories and GNP
West, Kenneth D. - 1989
A simple real linear-quadratic inventory model is used to determine how cost and demand shocks interacted to cause fluctuations in aggregate GNP and inventories in the U.S., 1947-1986. Cost shocks appear to be the predominant source of fluctuations in inventories, and are largely responsible for...
Persistent link: https://www.econbiz.de/10012476056
Cover Image
What Inventory Behavior Tells Us About Business Cycles
Bils, Mark - 1999
shadow price of labor, not to diminishing returns in fact, parametric evidence suggests that the short-run slope of marginal … relative to output price, they are too persistent for intertemporal substitution to be important. We conclude that …
Persistent link: https://www.econbiz.de/10012471474
Cover Image
Inventories and the Structure of Macro Models
Blinder, Alan S. - 1980
The message of this paper can be summed up in two words: inventories matter. They matter empirically, in the sense that inventory developments are of major importance in the propagation of business cycles; and they matter theoretically, in the sense that recognition of their existence changes...
Persistent link: https://www.econbiz.de/10012478621
Cover Image
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
Cover Image
More on the Speed of Adjustment in Inventory Models
Blinder, Alan S. - 1986
When empirical stock-adjustment models of manufacturers' inventories of finished goods are estimated, there appear to be two local minima in the sum of squared residuals functions. At one local minimum, the estimated adjustment speed is typically quite high; at the other, it is typically quite...
Persistent link: https://www.econbiz.de/10012477161
Cover Image
Measuring Noise in Inventory Models
Durlauf, Steven N. - 1993
This paper has two purposes. One is to assess different models of inventory behavior in terms of their ability to well approximate the realized data on inventories. We do this initially for the pure production smoothing model and then for a sequence of generalizations of the model. Our analysis...
Persistent link: https://www.econbiz.de/10012474458
Cover Image
Can The Production Smoothing Model of Inventory Behavior be Saved?
Blinder, Alan S. - 1984
consistent with the facts. Next, estimates of stock adjustment equations derived from the theory are presented and evaluated …
Persistent link: https://www.econbiz.de/10012477840