Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/60793 
Kompletter Metadatensatz
DublinCore-FeldWertSprache
dc.contributor.authorKahn, James A.en
dc.date.accessioned2010-04-21-
dc.date.accessioned2012-08-17T14:33:34Z-
dc.date.available2012-08-17T14:33:34Z-
dc.date.issued2008-
dc.identifier.urihttp://hdl.handle.net/10419/60793-
dc.description.abstractThis paper revisits the hypothesis that changes in inventory management were an important contributor to volatility reductions during the Great Moderation. It documents how changes in inventory behavior contributed to the stabilization of the U.S. economy within the durable goods sector, in particular, and develops a model of inventory behavior that is consistent with the key facts about volatility decline in that sector. The model is calibrated to evidence from survey data showing that lead times for materials orders in manufacturing shrank after the early 1980s. Simulations of the model show large reductions in the volatility of output growth and more modest reductions in the volatility of sales growth. In addition, the model addresses concerns raised by a number of researchers who criticize the inventory literature's focus on finished goods inventories, given that stocks of works-in-process and materials are actually larger and more volatile that those of finished goods. The model adapts the stockout-avoidance concept to a production-to-order setting and shows that much of the intuition and results regarding production volatility still apply.en
dc.language.isoengen
dc.publisher|aFederal Reserve Bank of New York |cNew York, NYen
dc.relation.ispartofseries|aStaff Report |x325en
dc.subject.jelD21en
dc.subject.jelE20en
dc.subject.jelN12en
dc.subject.ddc330en
dc.subject.keywordGreat Moderationen
dc.subject.keywordinventoriesen
dc.subject.keywordvolatilityen
dc.titleDurable goods inventories and the great moderation-
dc.typeWorking Paperen
dc.identifier.ppn587541806en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

Datei(en):
Datei
Größe
308.16 kB





Publikationen in EconStor sind urheberrechtlich geschützt.