TY  - JOUR
AU  - Blinder,Alan S.
TI  - Inventories and the Structure of Macro Models
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 515
PY  - 1981
Y2  - June 1981
UR  - http://www.nber.org/papers/w0515
L1  - http://www.nber.org/papers/w0515.pdf
N1  - Author contact info:
Alan S. Blinder
Department of Economics
Princeton University
Princeton, NJ 08544-1021
Tel: 609/258-3358
Fax: 609/258-5398
E-Mail: blinder@princeton.edu
AB  - 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
ER  -