What people are saying - Write a review
We haven't found any reviews in the usual places.
Inventories in the Keynesian macro model
Inventories rational expectations and the business cycle
7 other sections not shown
Other editions - View all
adjustment speeds aggregate consumption aggregate demand assets assumed assumption average bequest bequest motive Blinder business cycle coefficients constant constraint consumer consumption function cost shocks cycle theory demand curve demand shocks denote desired inventories distributed lag durable dynamics econometric effects empirical equilibrium example expected sales expenditures Feldstein final sales firm fluctuations hypothesis implies increase inequality initial inventories inventory behavior inventory change inventory investment inventory stocks Keynesian labor lifetime macroeconomic manufacturers marginal money stock MPCs negative nominal interest rate nondurable Note optimal output paper parameter percent period permanent income positive predicted price level rate of interest ratio rational expectations real GNP real interest rate recession regression relative price retail inventories rise Section sector serial correlation short-run specification speed of adjustment standard error sticky prices stock of inventories stock-adjustment model stylized facts suggests Table temporary tax theoretical unanticipated variable variance zero