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dc.contributor.authorKryvtsov, Oleksiyen
dc.contributor.authorMidrigan, Virgiliuen
dc.date.accessioned2011-12-15T12:55:45Z-
dc.date.available2011-12-15T12:55:45Z-
dc.date.issued2009-
dc.identifier.pidoi:10.34989/swp-2009-9en
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
dc.language.isoengen
dc.publisher|aBank of Canada |cOttawaen
dc.relation.ispartofseries|aBank of Canada Working Paper |x2009-9en
dc.subject.jelE31en
dc.subject.jelF12en
dc.subject.ddc330en
dc.subject.keywordBusiness fluctuations and cyclesen
dc.subject.keywordTransmission of monetary policyen
dc.subject.stwKonjunkturen
dc.subject.stwGeldpolitiken
dc.subject.stwBetriebliche Preispolitiken
dc.subject.stwPreisrigiditäten
dc.subject.stwLagermanagementen
dc.subject.stwNeukeynesianische Makroökonomiken
dc.subject.stwUSAen
dc.titleInventories and real rigidities in new Keynesian business cycle models-
dc.typeWorking Paperen
dc.identifier.ppn597606196en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:bca:bocawp:09-9en

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