evidence that inventories amplify aggregate fluctuations. However, the authors' model economy exhibits a business cycle similar … to that of a comparable benchmark without inventories. …

We search for useful models of aggregate fluctuations with inventories. We focus exclusively on dynamic stochastic … performance gauged by its ability to explain the observed magnitude of inventories in the U.S. economy, alongside other empirical …,s) model is far more consistent with the behavior of aggregate inventories in the postwar U.S. when aggregate fluctuations …

The aim of this paper is to reveal empirically two kinds of mechanismis which operate on inventories: one is demand …

-logarithmic form and derive an estimable system of Euler equations for inventories and employment with implied cross …

) inventories by adding joint determination of input inventories which largely have been ignored Empirically input inventories are … more important than output inventories especially in business cycle fluctuations Maximum likelihood estimation of the …

-logarithmic form, and derive an estimable system of Euler equations for inventories and employment with implied cross …