کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
965440 | 930807 | 2010 | 23 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Inventories and real rigidities in New Keynesian business cycle models
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موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
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چکیده انگلیسی
Kryvtsov and Midrigan (2008) study the behavior of inventories in an economy with menu costs, fixed ordering costs and the possibility of stockouts. This paper extends their analysis to a richer setting that is capable of more closely accounting for the dynamics of the US business cycle. We find that the original conclusion survives in this setting: namely, the model requires an elasticity of real marginal cost to output approximately equal to the inverse intertemporal elasticity of substitution in consumption in order to account for the countercyclicality of the aggregate inventory-to-sales ratio in the data.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of the Japanese and International Economies - Volume 24, Issue 2, June 2010, Pages 259-281
Journal: Journal of the Japanese and International Economies - Volume 24, Issue 2, June 2010, Pages 259-281
نویسندگان
Oleksiy Kryvtsov, Virgiliu Midrigan,