Inventories and the Propagation of Sectoral Shocks
研究不完全竞争经济中存货持有的动态特性，重点关注存货如何导致总产出和就业的序列相关，以及需求联系如何引起经济部门间的周期协同运动，并与竞争性真实商业周期模型对比。
This paper studies the dynamic properties of an imperfectly competitive economy with inventory holdings. In particular, we focus on the serial correlation in aggregate output and employment produced by the holding of inventories in one sector of the economy and the co-movement between sectors of an economy over the cycle resulting from demand linkages. This model is then contrasted with a simple, competitive real business cycle model with inventories. We find that the predictions of these models with regards to the co-movement of employment may differ. Based on this, we present empirical evidence on the co-movement of employment over the business cycle which is consistent with the predictions of the model of imperfect competition with inventory holdings and demand linkages.