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Input and output inventories in general equilibrium
Iacoviello, Matteo; Schiantarelli, Fabio; Schuh, Scott - 2007
inventories: materials (input) inventories facilitate the production of finished goods, while finished goods (output) inventories … cyclicality of inventory investment and inventory-to-target ratios. Although inventories are an important element of the model … parameters associated with inventories play a minor role in reducing the volatility of output. …
Persistent link: https://www.econbiz.de/10010280924
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Evaluating the Role of Firm-Specific Capital in New Keynesian models
Madeira, Joao - Business School, University of Exeter - 2012
In this paper I make use of Bayesian methods to estimate a firm-specific capital DSGE model with Calvo price and wage setting. This approach allows me to firmly conclude that firm-specific capital is highly relevant in improving the fit of New Keynesian models to the data as shown by a large...
Persistent link: https://www.econbiz.de/10010883463
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Firm-specific capital, inflation persistence and the sources of business cycles
Madeira, João - In: European Economic Review 74 (2015) C, pp. 229-243
This paper estimates a firm-specific capital DSGE model. Firm-specific capital improves the fit of DSGE models to the data (as shown by a large increase in the value of the log marginal likelihood). This results from a lower implied estimate of the NKPC slope for a given degree of price...
Persistent link: https://www.econbiz.de/10011190206
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Stabilized Business Cycles with Increased Output Volatility at High Frequencies
Kimura, Takeshi; Shiotani, Kyosuke - Bank of Japan - 2007
In Japan, like many other industrialized countries, output volatility declined dramatically in the 1980s. In order to investigate the cause of this decline, we decompose the variance of output growth by frequency. Our important findings are: (1) The total variance of output growth decreased,...
Persistent link: https://www.econbiz.de/10010894595
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Financial Inefficiency and Real Business Cycle in Colombia
Zea, Camilo - Banco de la Republica de Colombia
In a dynamic, stochastic, general equilibrium model,we explore the optimal response of the inhabitans of a closed economy to an inefficient ad hoc financial system that in its intermediation duty looses a fraction of aggregate savings which otherwise would become aggregate investment. The...
Persistent link: https://www.econbiz.de/10005035885
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Are business tendency surveys useful to forecast private investment in Peru? A non-linear approach
Arenas, Paúl; Morales, Daniel - Banco Central de Reserva del Perú - 2013
We use the results of business tendency surveys (BTS) to forecast private investment growth in Peru, exploring the possible non-linear link between the BTS and private investment for forecasting purposes. We find that business confidence indices extracted from BTS, in particular the one...
Persistent link: https://www.econbiz.de/10010819838
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Abnehmende Bedeutung der Lagerinvestitionen für den Konjunkturverlauf?
Döpke, Jörg; Langfeldt, Enno - 1997
With the widespread application of inventory control Systems in industry and trade and a fast growing Services sector the influence of inventory changes on the business sector should become less important over time. However, the empirical eyidence for Germany in the period 1970-1994 shows that...
Persistent link: https://www.econbiz.de/10010275352
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Abnehmende Bedeutung der Lagerinvestitionen für den Konjunkturverlauf?
Döpke, Jörg; Langfeldt, Enno - Institut für Weltwirtschaft (IfW) - 1997
With the widespread application of inventory control Systems in industry and trade and a fast growing Services sector the influence of inventory changes on the business sector should become less important over time. However, the empirical eyidence for Germany in the period 1970-1994 shows that...
Persistent link: https://www.econbiz.de/10009277724
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Inventories in the Australian business cycle
Chindamo, Phillip - Volkswirtschaftliche Fakultät, … - 2010
This Economics Research Note examines inventories in the business cycle for Australia covering the period since the mid … 1980s. The Australian Bureau of Statistics (ABS) defines inventories as all materials etc., work in progress and finished …
Persistent link: https://www.econbiz.de/10009401330
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Inventories Dynamics and Sectoral Propagation Mechanisms an Empirical Study with French and American Data.
Ben Salem, M.; Jacques, J.F. - Centre de recherche de mathématiques et économie … - 1996
The aim of this paper is to reveal empirically two kinds of mechanismis which operate on inventories: one is demand …
Persistent link: https://www.econbiz.de/10005475324