NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Inventories and the Structure of Macro Models

Alan S. Blinder

NBER Working Paper No. 515 (Also Reprint No. r0174)
Issued in July 1980
NBER Program(s):   EFG

The message of this paper can be summed up in two words: inventories matter. They matter empirically, in the sense that inventory developments are of major importance in the propagation of business cycles; and they matter theoretically, in the sense that recognition of their existence changes the structure of a variety of theoretical macromodels in some fairly important ways. This paper is mainly about the implications of inventories for the structure of theoretical macro models, but I begin by demonstrating the empirical importance of inventories in business fluctuations

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Document Object Identifier (DOI): 10.3386/w0515

Published: Blinder, Alan. "Inventories and the Structure of Macro Models." The American Economic Review, Vol. 71, No. 2, (May 1981), pp. 11-16.

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