是什么导致了库存累积?收益率和边际成本新闻

IF 1.2 3区 经济学 Q3 BUSINESS, FINANCE
CHRISTOPH GÖRTZ, CHRISTOPHER GUNN, THOMAS A. LUBIK
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引用次数: 0

摘要

我们在具有新闻冲击的结构性向量自回归(VAR)框架中研究了库存积累的决定因素。具体来说,我们研究了新闻冲击如何影响库存变动的两个关键决定因素,即收益率和边际成本。我们发现,存货对有关全要素生产率未来增长的消息会做出强烈的正向反应。我们提供的证据表明,外部和内部收益率的变化是此类新闻冲击传导的核心。我们没有发现边际成本起主导作用的证据。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
What Drives Inventory Accumulation? News on Rates of Return and Marginal Costs
We study the determinants of inventory accumulation in a structural vector autoregression (VAR) framework with news shocks. Specifically, we investigate how news shocks affect two key determinants of inventory movements, namely, rates of return and marginal costs. We establish that inventories react strongly and positively to news about future increases in total factor productivity. We provide evidence that changes in external and internal rates of return are central to the transmission for such news shocks. We do not find evidence for a dominant role of marginal costs.
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来源期刊
CiteScore
2.90
自引率
6.70%
发文量
98
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