References
- Alessandria, G., J. P. Kaboski, and V. Midrigan. 2010. “The Great Trade Collapse of 2008–09: An Inventory Adjustment?” IMF Economic Review 58 (2): 254–294. doi:https://doi.org/10.1057/imfer.2010.10.
- Amato, J. D., and Laubach, T. (2004). Implications of habit formation for optimal monetary policy. Journal of Monetary Economics, 51(2), 305–325
- Auernheimer, L., and D. R. Trupkin. 2014. “The Role of Inventories and Capacity Utilization as Shock Absorbers.” Review of Economic Dynamics 17 (1): 70–85. doi:https://doi.org/10.1016/j.red.2013.04.003.
- Barth, M. J., III, and V. A. Ramey. 2001. “The Cost Channel of Monetary Transmission.” NBER Macroeconomics Annual 16: 199–240. doi:https://doi.org/10.1086/654443.
- Batini, N., B. Jackson, and S. Nickell. 2005. “An Open-economy New Keynesian Phillips Curve for the UK.” Journal of Monetary Economics 52 (6): 1061–1071. doi:https://doi.org/10.1016/j.jmoneco.2005.08.003.
- Belo, F., and X. Lin. 2012. “The Inventory Growth Spread.” The Review of Financial Studies 25 (1): 278–313. doi:https://doi.org/10.1093/rfs/hhr069.
- Bils, M. 2016. “Deducing Markups from Stockout Behavior.” Research in Economics 70 (2): 320–331. doi:https://doi.org/10.1016/j.rie.2016.03.001.
- Bils, M., and J. A. Kahn. 2000. “What Inventory Behavior Tells Us about Business Cycles.” American Economic Review 90 (3): 458–481. doi:https://doi.org/10.1257/aer.90.3.458.
- Bils, M., and P. J. Klenow. 2004. “Some Evidence on the Importance of Sticky Prices.” Journal of Political Economy 112 (5): 947–985. doi:https://doi.org/10.1086/422559.
- Blanchard, O. J. 1983. “The Production and Inventory Behavior of the American Automobile Industry.” Journal of Political Economy 91 (3): 365–400. doi:https://doi.org/10.1086/261154.
- Blinder, A. S., and L. J. Maccini. 1991. “Taking Stock: A Critical Assessment of Recent Research on Inventories.” Journal of Economic Perspectives 5 (1): 73–96. doi:https://doi.org/10.1257/jep.5.1.73.
- Blinder, A. S., and S. Fischer. 1981. “Inventories, Rational Expectations, and the Business Cycle.” Journal of Monetary Economics 8 (3): 277–304. doi:https://doi.org/10.1016/0304-3932(81)90012-X.
- Boileau, M., and M. A. Letendre. 2011. “Inventories, Sticky Prices, and the Persistence of Output and Inflation.” Applied Economics 43 (10): 1161–1174. doi:https://doi.org/10.1080/00036840802600343.
- Boldrin, M., L. J. Christiano, and J. D. Fisher. 2001. “Habit Persistence, Asset Returns, and the Business Cycle.” American Economic Review 91 (1): 149–166. doi:https://doi.org/10.1257/aer.91.1.149.
- Bouakez, H., E. Cardia, and F. J. Ruge-Murcia. 2005. “Habit Formation and the Persistence of Monetary Shocks.” Journal of Monetary Economics 52 (6): 1073–1088. doi:https://doi.org/10.1016/j.jmoneco.2005.08.009.
- Castelnuovo, E. 2012. “Estimating the Evolution of Money’s Role in the US Monetary Business Cycle.” Journal of Money, Credit, and Banking 44 (1): 23–52. doi:https://doi.org/10.1111/j.1538-4616.2011.00468.x.
- Chang, Y., A. Hornstein, and P. D. Sarte. 2009. “On the Employment Effects of Productivity Shocks: The Role of Inventories, Demand Elasticity, and Sticky Prices.” Journal of Monetary Economics 56 (3): 328–343. doi:https://doi.org/10.1016/j.jmoneco.2009.02.004.
- Chari, V. V., P. J. Kehoe, and E. R. McGrattan. 2000. “Sticky Price Models of the Business Cycle: Can the Contract Multiplier Solve the Persistence Problem?” Econometrica 68 (5): 1151–1179. doi:https://doi.org/10.1111/1468-0262.00154.
- Chari, V. V., P. J. Kehoe, and E. R. McGrattan. 2009. “New Keynesian Models: Not yet Useful for Policy Analysis.” American Economic Journal: Macroeconomics 1 (1): 242–266.
- Charnavoki, V. 2019. “Retail Sales of Durable Goods, Inventories and Imports after Large Devaluations.” Journal of Economic Dynamics & Control 108: 103765. doi:https://doi.org/10.1016/j.jedc.2019.103765.
- Christiano, L. J., M. Eichenbaum, and C. L. Evans. 2005. “Nominal Rigidities and the Dynamic Effects of a Shock to Monetary Policy.” Journal of Political Economy 113 (1): 1–45. doi:https://doi.org/10.1086/426038.
- Cogley, T., and A. M. Sbordone. 2008. “Trend Inflation, Indexation, and Inflation Persistence in the New Keynesian Phillips Curve.” American Economic Review 98 (5): 2101–2126. doi:https://doi.org/10.1257/aer.98.5.2101.
- Copeland, A., G. Hall, and L. J. Maccini. 2019. “Interest Rates and the Market for New Light Vehicles.” Journal of Money, Credit, and Banking 51 (5): 1137–1168. doi:https://doi.org/10.1111/jmcb.12564.
- Dynan, K. E. 2000. “Habit Formation in Consumer Preferences: Evidence from Panel Data.” American Economic Review 90 (3): 391–406. doi:https://doi.org/10.1257/aer.90.3.391.
- Fitzgerald, T. J. 1997. “Inventories and the Business Cycle: An Overview.” Economic Review-Federal Reserve Bank of Cleveland 33: 11–22.
- Flaschel, P., G. Gong, and W. Semmler. 2001. “A Keynesian Macroeconometric Framework for the Analysis of Monetary Policy Rules.” Journal of Economic Behavior & Organization 46 (1): 101–136. doi:https://doi.org/10.1016/S0167-2681(01)00189-5.
- Fuhrer, J. C. 2000. “Habit Formation in Consumption and Its Implications for Monetary-policy Models.” American Economic Review 90 (3): 367–390. doi:https://doi.org/10.1257/aer.90.3.367.
- Galì, J., and M. Gertler. 1999. “Inflation Dynamics: A Structural Econometric Analysis.” Journal of Monetary Economics 44 (2): 195–222. doi:https://doi.org/10.1016/S0304-3932(99)00023-9.
- Galì, J., M. Gertler, and J. D. Lopez-Salido. 2001. “European Inflation Dynamics.” European Economic Review 45 (7): 1237–1270. doi:https://doi.org/10.1016/S0014-2921(00)00105-7.
- Gertler, M., and S. Gilchrist. 1994. “Monetary Policy, Business Cycles, and the Behavior of Small Manufacturing Firms.” The Quarterly Journal of Economics 109 (2): 309–340. doi:https://doi.org/10.2307/2118465.
- Gordon, R. J. 2011. “The History of the Phillips Curve: Consensus and Bifurcation.” Economica 78 (309): 10–50. doi:https://doi.org/10.1111/j.1468-0335.2009.00815.x.
- Görtz, C., C. Gunn, and T. Lubik. 2020. “Is There News in Inventories?” Federal Reserve Bank of Richmond Working Papers 20: 1–42. doi:https://doi.org/10.21144/wp20-03.
- Görtz, C., C. M. Gunn, and T. A. Lubik. 2019. “What Drives Inventory Accumulation?: News on Rates of Return and Marginal Costs (No. CEP 19-09).”
- Hall, R. E. 2005. “Employment Fluctuations with Equilibrium Wage Stickiness.” American Economic Review 95 (1): 50–65. doi:https://doi.org/10.1257/0002828053828482.
- Havranek, T., M. Rusnak, and A. Sokolova. 2017. “Habit Formation in Consumption: A Meta-analysis.” European Economic Review 95: 142–167. doi:https://doi.org/10.1016/j.euroecorev.2017.03.009.
- Irvine, F. O. 1981. “Retail Inventory Investment and the Cost of Capital.” The American Economic Review 71 (4): 633–648.
- Iwamoto, K. 2013. “Habit Formation in Household Consumption: Evidence from Japanese Panel Data.” Economics Bulletin 33 (1): 323–333.
- Jones, C. S., and S. Tuzel. 2013. “Inventory Investment and the Cost of Capital.” Journal of Financial Economics 107 (3): 557–579. doi:https://doi.org/10.1016/j.jfineco.2012.09.001.
- Jung, Y., and T. Yun. 2005. “Monetary Policy Shocks, Inventory Dynamics, and Price-Setting Behavior.” Working Paper 2006-02, Federal Reserve Bank of San Francisco.
- Kapteyn, A., and F. Teppa. 2003. “Hypothetical Intertemporal Consumption Choices.” The Economic Journal 113 (486): C140–C152. doi:https://doi.org/10.1111/1468-0297.00111.
- Khan, A., and J. K. Thomas. 2007. “Inventories and the Business Cycle: An Equilibrium Analysis of (S, S) Policies.” American Economic Review 97 (4): 1165–1188. doi:https://doi.org/10.1257/aer.97.4.1165.
- Kryvtsov, O., and V. Midrigan. 2010. “Inventories and Real Rigidities in New Keynesian Business Cycle Models.” Journal of the Japanese and International Economies 24 (2): 259–281. doi:https://doi.org/10.1016/j.jjie.2009.12.004.
- Kryvtsov, O., and V. Midrigan. 2013. “Inventories, Markups, and Real Rigidities in Menu Cost Models.” Review of Economic Studies 80 (1): 249–276. doi:https://doi.org/10.1093/restud/rds028.
- Lubik, T., and W. L. Teo. 2009. “Inventories and Optimal Monetary Policy.” FRB Richmond Economic Quarterly 95 (4): 357–382.
- Lubik, T. A., and W. L. Teo. 2012. “Inventories, Inflation Dynamic, and the New Keynesian Phillips Curve.” European Economic Review 56 (3): 327–346. doi:https://doi.org/10.1016/j.euroecorev.2011.10.002.
- Lubik, T. A., and W. L. Teo. 2014. “Deep Habits in the New Keynesian Phillips Curve.” Journal of Money, Credit, and Banking 46 (1): 79–114. doi:https://doi.org/10.1111/jmcb.12098.
- Maccini, L. J., and A. Pagan. 2013. “Inventories, Fluctuations, and Goods Sector Cycles.” Macroeconomic Dynamics 17 (1): 89–122. doi:https://doi.org/10.1017/S1365100511000010.
- Maccini, L. J., B. Moore, and H. Schaller. 2015. “Inventory Behavior with Permanent Sales Shocks.” Journal of Economic Dynamics & Control 53: 290–313. doi:https://doi.org/10.1016/j.jedc.2015.02.010.
- Maccini, L. J., and R. J. Rossana. 1981. “Investment in Finished Goods Inventories: An Analysis of Adjustment Speeds.” The American Economic Review 71 (2): 17–22.
- Malikane, C. 2014. “A New Keynesian Triangle Phillips Curve.” Economic Modelling 43: 247–255. doi:https://doi.org/10.1016/j.econmod.2014.08.010.
- Malikane, C., and T. Mokoka. 2014. “The New Keynesian Phillips Curve: Endogeneity and Misspecification.” Applied Economics 46 (25): 3082–3089. doi:https://doi.org/10.1080/00036846.2014.922672.
- Pindyck, R. S. 1994. “Inventories and the Short-Run Dynamics of Commodity Prices.” The Rand Journal of Economics 25: 141–159. doi:https://doi.org/10.2307/2555858.
- Rabanal, P. 2007. “Does Inflation Increase after a Monetary Policy Tightening? Answers Based on an Estimated DSGE Model.” Journal of Economic Dynamics & Control 31 (3): 906–937. doi:https://doi.org/10.1016/j.jedc.2006.01.008.
- Ramey, V. A., and K. D. West. 1999. “Inventories.” Handbook of Macroeconomics 1: 863–923.
- Rubio, M., and S. Schuh. 2017. “Monetary Policy and the Role of Inventory Investment.” Applied Economics Letters 24 (21): 1605–1612. doi:https://doi.org/10.1080/13504851.2017.1363855.
- Shimer, R. 2005. “The Cyclical Behavior of Equilibrium Unemployment and Vacancies.” American Economic Review 95 (1): 25–49. doi:https://doi.org/10.1257/0002828053828572.
- Smets, F., and R. Wouters. 2003. “An Estimated Dynamic Stochastic General Equilibrium Model of the Euro Area.” Journal of the European Economic Association 1 (5): 1123–1175. doi:https://doi.org/10.1162/154247603770383415.
- Smets, F., and R. Wouters. 2007. “Shocks and Frictions in US Business Cycles: A Bayesian DSGE Approach.” American Economic Review 97 (3): 586–606. doi:https://doi.org/10.1257/aer.97.3.586.
- Teo, W. L. 2011. “Inventories and Optimal Monetary Policy in a Small Open Economy.” Journal of International Money and Finance 30 (8): 1719–1748. doi:https://doi.org/10.1016/j.jimonfin.2011.09.003.
- Wen, Y. 2005. “Understanding the Inventory Cycle.” Journal of Monetary Economics 52 (8): 1533–1555. doi:https://doi.org/10.1016/j.jmoneco.2004.10.009.
- Wen, Y. 2008. “Inventories, Liquidity, and the Macroeconomy.” Available at SSRN 1309617.
- Wen, Y. 2011. “Input and Output Inventory Dynamics.” American Economic Journal: Macroeconomics 3 (4): 181–212.