Inventories and the Business Cycle: An Equilibrium Analysis of (S,s) Policies
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We develop an equilibrium business cycle model where nonconvex delivery costs lead producers of final goods to follow generalized (S,s) inventory policies with respect to intermediate goods. When calibrated to match the average inventory-to-sales ratio in postwar U.S. data, our model reproduces two
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美国国家经济研究局创建时间：
2003-11-01
