Durable good inventories and the volatility of production
Subtitle: explaining the less volatile U.S. economy
By: by Yi Wen.
Contributors: Federal Reserve Bank of St. Louis.
Series: Working paper ;; 2005-047A; Working paper (Federal Reserve Bank of St. Louis : Online) ;; 2005-047A.
Publisher: Federal Reserve Bank of St. Louis
Published: 2005
Place of publication: [St. Louis, Mo.]
Language: eng
Format: Electronic resource
Subjects: Inventories -- United States -- Econometric models.; Industrial productivity -- United States -- Econometric models.
Description: "This paper provides a simple dynamic optimization model of durable goods inventories.  Closed-form solutions are derived in a general equilibrium environment with imperfect information and serially correlated shocks.  The model is then applied to scrutinize some popular conjectures regarding the causes of the volatility reduction of GDP since 1984"--Federal Reserve Bank of St. Louis web site.
Notes: Includes bibliographical references.
Title from PDF file as viewed on 7/6/2005.
Also available in print.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.