Interaction between the seasonal and business cycles in
发现美国多个制造业中，生产和库存的季节性波动随商业周期状态变化，并构建模型证明企业面临向上倾斜且凸的边际成本曲线。
This paper shows that, in several U.S. manufacturing industries, the seasonal variability of production and inventories varied with the state of the business cycle. The authors present a simple model which implies that, if firms reduce the seasonal variability of their production as the economy strengthens and they either hold constant or increase the stock of inventories they bring into the high-production seasons of the year, then they must be facing upward-sloping and convex marginal cost curves. The authors conclude that firms in a number of industries face upward-sloping and convex marginal-production-cost curves. Copyright 1997 by American Economic Association.