This paper examines the adjustment of inventories by firms in the UK and Spain. A widely-held view—but one which has not found much support in previous studies of inventories— is that a key channel for monetary policy is through influencing inventory accumulation. Using a large company-level panel dataset for both countries, significant effects associated with borrowing costs on inventories are...

This paper introduces inventories in an otherwise standard dynamic stochastic general equilibrium model. Based on U.S. data we estimate the parameters of our model using Bayesian methods. We find that inventories enter the Phillips curve as an additional and significant driving variable and make the inflation process less backward-looking. Moreover, our analysis reveals that the impulse respons...

Emission inventories from mobile sources have traditionally been obtained through computational modeling. This method, however, has intrinsic shortcomings in that the factors used incorporate only a limited amount of real-world observations. The agreement between model predictions and measurements has often been poor. Recently, a fuel-based method of obtaining on-road emissions inventories has ...

In a dynamic storable good market where demand changes over time, we investigate the producer’s strategic incentives to hold inventories in response to the possibility of buyer stockpiling. The literature on storable goods has demonstrated that buyer stockpiling in anticipation of higher future prices harms the producer’s profitability, particularly when the producer cannot commit to future pri...

A better understanding of the discrepancies in multi-scale inventories could give an insight into their approaches and limitations as well as provide indications for further improvements; international, national, and plant-byplant data are primarily obtained to compile those inventories. In this study we develop a high-resolution inventory of Hg emissions at 0.05× 0.05 for Jiangsu, China, using...

This paper develops an analytically tractable general equilibrium model of inventory dynamics. Inventories are introduced into a standard RBC model through a precautionary stockout-avoidance motive. Under persistent aggregate demand shocks, the model is broadly consistent with the U.S. business cycle and key features of inventory behavior, including (i) a large inventory stock-to-sales ratio an...

Since the work of André Martinet back in the 60’s [7], the notion of ‘economy’ has been accepted as one of the main principles underlying the organization of phonological inventories (hereafter PI). This principle, also named MUAF (‘Maximal Use of Available Features’) by John Ohala [8], states that PI are organized along a few phonetic dimensions that they tend to maximize in terms of number of...

This paper studies the within-model-year pricing, production, and inventory management of new automobiles. Using new monthly data on U.S. transaction prices, we document that, for the typical vehicle, prices fall over the model year at a 9.0 percent annual rate. Concurrently, both sales and inventories are hump shaped. To explain these time series, we formulate an industry model for new automob...

The acquisition of phonological inventories is a subject which has been studied by both linguists and psychologists, and rightly so—there is no question from the point of view of the theoretician studying universal grammar that the path from the initial state to the adult state is of interest, and there is no question from the developmental psychologist’s point of view that the child’s phonolog...

There has been a surge of interest in Computational Linguistics in word sense disambiguation (WSD). A major catalyst has been the SENSEVAL evaluation exercises which have provided standard datasets for the field over the past decade. Whilst researchers believe that WSD will ultimately prove useful for applications which need some degree of semantic interpretation, the jury is still out on this ...