@techreport{Kryvtsov2009Inventories,
abstract = {Kryvtsov and Midrigan (2008) study the behavior of inventories in an economy with menu costs, fixed ordering costs and the possibility of stock-outs. 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.},
address = {Ottawa},
author = {Oleksiy Kryvtsov and Virgiliu Midrigan},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {E31; F12; 330; Business fluctuations and cycles; Transmission of monetary policy; Konjunktur; Geldpolitik; Betriebliche Preispolitik; Preisrigidit\"{a}t; Lagermanagement; Neukeynesianische Makro\"{o}konomik; USA},
language = {eng},
number = {2009,9},
publisher = {Bank of Canada},
title = {Inventories and real rigidities in new Keynesian business cycle models},
type = {Bank of Canada Working Paper},
url = {http://hdl.handle.net/10419/53780},
year = {2009}
}
