An Empirical Analysis of Business Cycles in a New Keynesian Model with Inventories

This paper introduces inventories in an otherwise standard dynamic stochastic general equilibrium model. Firms accumulate inventories to facilitate sales, but face a cost of doing so in terms of costly storage of intermediate goods. Based on U.S. data we estimate the parameters of our model using Ba...

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Bibliographic Details
Published in:MAGKS - Joint Discussion Paper Series in Economics (Band 13-2014)
Main Author: Foerster, Marcel
Format: Article
Published: Philipps-Universität Marburg 2014
Online Access:PDF Full Text
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MAGKS - Joint Discussion Paper Series in Economics