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Erscheinungsjahr: 
2009
Schriftenreihe/Nr.: 
Economics Discussion Papers No. 2009-23
Verlag: 
Kiel Institute for the World Economy (IfW), Kiel
Zusammenfassung: 
The relationship between inventory investment and the real interest rate has been difficult to assess empirically. Recent work has proposed a linear-quadratic inventory model with time-varying discount factor to identify the effects of real interest rate on inventory investment. The authors show that this framework does not separately identify the effects of real interest rate on inventory investment from variables that determine the expected marginal cost of production. Consequently, understanding the relationship between inventory investment and the real interest rate continues to be a challenge for macroeconomists.
Schlagwörter: 
Inventory investment
real interest rate
Creative-Commons-Lizenz: 
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Dokumentart: 
Working Paper

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