The American Economic Review, Volume 97American Economic Association., 2007 |
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... inventory - to - sales ratio . Although its mar- kets are perfectly competitive and its business cycles arise solely from productivity shocks , our model economy nonetheless exhibits both procyclical inventory investment and a coun ...
... inventory - to - sales ratio . Although its mar- kets are perfectly competitive and its business cycles arise solely from productivity shocks , our model economy nonetheless exhibits both procyclical inventory investment and a coun ...
Página 1183
... inventory - sales ratios , the direct explanation for dampened business cycles lies elsewhere.21 VI . Two Puzzles about Inventory Adjustment We noted in Section VA that our inventory model is consistent with the data in its predic- tion ...
... inventory - sales ratios , the direct explanation for dampened business cycles lies elsewhere.21 VI . Two Puzzles about Inventory Adjustment We noted in Section VA that our inventory model is consistent with the data in its predic- tion ...
Página 1187
... inventory management are unlikely to explain substantial reductions in GDP volatility . Moreover , our results show that the observation of a countercyclical inventory - to - sales ratio , alongside procyclical inventory investment , is ...
... inventory management are unlikely to explain substantial reductions in GDP volatility . Moreover , our results show that the observation of a countercyclical inventory - to - sales ratio , alongside procyclical inventory investment , is ...
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agents aggregate American Economic Review analysis assets assume assumption average behavior benchmark Beveridge curve business cycles candidates capital changes choice coefficient cointegration consumer consumption contracts correlation cost of business countercyclical deductible degree distributions distribution durables effect empirical equation equilibrium estimated exchange expected Figure firms function given growth HIP model households implies impulse responses income increase individuals inflation inventory investment investment rate Journal of Economics labor market loss aversion marginal likelihood matching Matthew Rabin ment Michael Woodford monetary policy nodes nomic observed optimal output pairs paper parameters patients percent policy shock post.com preferences procyclical production Proposition random regime relative response risk aversion sample Section sector Shapley value side payments simulations sticky prices stochastic Table theory tion tradable unemployment utility variables variance volatility vouchers wage workers Yangzi Delta