Rochester Center for Economic Research Working Paper / Federal Reserve Bank of New York / Department of Economics / National Science Foundation / US Federal Reserve / University of Rochester / Rochester / Research Department / /
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John C. Haltiwanger / Anil Kashyap / Valerie A. Ramey / Steven N. Braun / Ken West / Russell Cooper / Louis J. Maccini / Ray C. Fair / Spencer D. Krane / Edward C. Prescott / Anil K. Kashyap / Julio Rotemberg / Martin S. Eichenbaum / Peter H. Thurlow / Michael Woodford / Finn E. Kydland / Peter Klenow / Simon Gilchrist / David W. Wilcox / Mark L. Gertler / Olivier J. Blanchard / Alan J. Auerbach / Cycles By Mark Bils / James A. Kahn / Lawrence J. Christiano / Alan S. Blinder / Valerie Ramey / Martin S. Feldstein / Steven N. Durlauf / detrended using a Hodrick-Prescott / /
What Inventory Behavior Tells Us about Business Cycles By Mark Bils and James A. Kahn* The countercyclical pattern of inventory-sales ratios is a striking feature of inventory behavior. In a model where inventories are p