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dc.contributor.authorIacoviello, Matteoen
dc.contributor.authorSchiantarelli, Fabioen
dc.contributor.authorSchuh, Scotten
dc.date.accessioned2008-06-12-
dc.date.accessioned2012-02-23T08:24:02Z-
dc.date.available2012-02-23T08:24:02Z-
dc.date.issued2007-
dc.identifier.urihttp://hdl.handle.net/10419/55615-
dc.description.abstractWe build and estimate a two-sector (goods and services) dynamic stochastic general equilibrium model with two types of inventories: materials (input) inventories facilitate the production of finished goods, while finished goods (output) inventories yield utility services. The model is estimated using Bayesian methods. The estimated model replicates the volatility and cyclicality of inventory investment and inventory-to-target ratios. Although inventories are an important element of the model's propagation mechanism, shocks to inventory efficiency or management are not an important source of business cycles. When the model is estimated over two subperiods (pre- and post-1984), changes in the volatility of inventory shocks, or in structural parameters associated with inventories play a minor role in reducing the volatility of output.en
dc.language.isoengen
dc.publisher|aFederal Reserve Bank of Boston |cBoston, MAen
dc.relation.ispartofseries|aWorking Papers |x07-16en
dc.subject.jelE22en
dc.subject.jelE32en
dc.subject.jelE37en
dc.subject.ddc330en
dc.subject.keywordInventoriesen
dc.subject.keywordbusiness cyclesen
dc.subject.keywordoutput volatilityen
dc.subject.keywordBayesian estimationen
dc.subject.keywordGreat Moderationen
dc.subject.stwDynamisches Gleichgewichten
dc.subject.stwModell-Spezifikationen
dc.subject.stwLagerzyklusen
dc.subject.stwKonjunkturtheorieen
dc.subject.stwTheorieen
dc.titleInput and output inventories in general equilibrium-
dc.typeWorking Paperen
dc.identifier.ppn568828208en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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