摘要:

Abstract.Recent empirical and theoretical research on business inventories is surveyed and critically evaluated. While most inventory research has had macroeconomic motivations, we focus on its microtheoretic basis and on potential conflicts between theory and evidence. The paper asks two principal questions. First, how can inventories, which are allegedly used by firms to stabilize production, nonetheless be a destabilizing factor at the macroeconomic level? Second, why, if firms are following the production‐smoothing model, is production more variable than sales in many industries? We suggest that the so‐called (S,s) model may help answer both questi

ISSN:0950-0804    

DOI:10.1111/j.1467-6419.1991.tb00138.x

出版商:Blackwell Publishing Ltd    

年代:1991

数据来源: WILEY

摘要:

Abstract.During the 1980s many countries adopted tight monetary policies to reduce high inflation rates which were the legacy of the 1970s. As inflation threatens to rise at the beginning of this decade, this paper provides a survey of the 1980s literature which sought to provide theoretical understandings of how monetary disinflation is achieved. Four models are presented—monetarist, neo‐Keynesian, new classical and post‐Keynesian. Each model's explanation of the recession which accompanies the monetary disinflation is outlined, as well as possible policy measures to reduce the extent of the recession and to hasten the return to full emplo

ISSN:0950-0804    

DOI:10.1111/j.1467-6419.1991.tb00139.x

出版商:Blackwell Publishing Ltd    

年代:1991

数据来源: WILEY

摘要:

Books Reviewed in this article:Robert J. Gordon (ed.) (1986) The American Business Cycle. Chicago and London:Andrew W. Mullineux (1990)Business Cycles and Financial Crises.Hemel Hempstead:Jan Reijnders (1990)Long Waves in Economic Development.Aldershot:Peter Skott (1989)Conflict and Effective Demand in Economic Growth.Cambridge:

ISSN:0950-0804    

DOI:10.1111/j.1467-6419.1991.tb00140.x

出版商:Blackwell Publishing Ltd    

年代:1991

数据来源: WILEY

ISSN:0950-0804    

DOI:10.1111/j.1467-6419.1991.tb00141.x

出版商:Blackwell Publishing Ltd    

年代:1991

数据来源: WILEY