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dc.contributor.authorKryvtsov, Oleksiyen_US
dc.contributor.authorMidrigan, Virgiliuen_US
dc.date.accessioned2011-12-15T12:55:45Z-
dc.date.available2011-12-15T12:55:45Z-
dc.date.issued2009en_US
dc.identifier.urihttp://hdl.handle.net/10419/53780-
dc.description.abstractKryvtsov 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.en_US
dc.language.isoengen_US
dc.publisherBank of Canada Ottawaen_US
dc.relation.ispartofseriesBank of Canada Working Paper 2009,9en_US
dc.subject.jelE31en_US
dc.subject.jelF12en_US
dc.subject.ddc330en_US
dc.subject.keywordBusiness fluctuations and cyclesen_US
dc.subject.keywordTransmission of monetary policyen_US
dc.subject.stwKonjunkturen_US
dc.subject.stwGeldpolitiken_US
dc.subject.stwBetriebliche Preispolitiken_US
dc.subject.stwPreisrigiditäten_US
dc.subject.stwLagermanagementen_US
dc.subject.stwNeukeynesianische Makroökonomiken_US
dc.subject.stwUSAen_US
dc.titleInventories and real rigidities in new Keynesian business cycle modelsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn597606196en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Bank of Canada Working Papers

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