Subject: Inventories ; Business cycles | Inventories ; Business cycles ; Production (Economic theory)
jel: jel:E32 | jel:E3 | jel:E22
Manufacturers' finished goods inventories move less than shipments over the business cycle. We argue that this requires marginal cost to be more procyclical than is conventionally measured. We construct, for six manufacturing industries, alternative measures of marginal... View more
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