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150128 ||| eng |
| 020 |
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|a 9781451854497
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| 100 |
1 |
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|a Kim, Yungsan
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| 245 |
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|a Has Inventory Investment Been Liquidity-Constrained? Evidence From U.S. Panel Data
|c Yungsan Kim, Woon Choi
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2001
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| 300 |
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|a 41 pages
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| 651 |
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4 |
|a United States
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| 653 |
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|a Government and the Monetary System
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| 653 |
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|a Payment Systems
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| 653 |
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|a Economics
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| 653 |
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|a Investment
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| 653 |
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|a Finance
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| 653 |
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|a Regimes
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| 653 |
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|a Monetary economics
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| 653 |
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|a Monetary tightening
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| 653 |
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|a Financial institutions
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| 653 |
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|a Bond ratings
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| 653 |
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|a General Financial Markets: General (includes Measurement and Data)
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| 653 |
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|a Spatio-temporal Models
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| 653 |
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|a Investments: Bonds
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| 653 |
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|a Intangible Capital
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| 653 |
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|a Asset and liability management
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| 653 |
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|a Money
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| 653 |
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|a Liquidity
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| 653 |
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|a Standards
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| 653 |
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|a Bonds
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| 653 |
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|a Panel Data Models
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| 653 |
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|a Currencies
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| 653 |
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|a Monetary Systems
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| 653 |
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|a Monetary policy
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| 653 |
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|a Capacity
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| 653 |
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|a Liquidity indicators
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| 653 |
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|a Investment & securities
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| 653 |
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|a Capital
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| 653 |
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|a Monetary Policy
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| 653 |
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|a Money and Monetary Policy
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| 653 |
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|a Portfolio Choice
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| 653 |
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|a Liquidity management
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| 653 |
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|a Finance: General
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| 653 |
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|a Investment Decisions
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| 700 |
1 |
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|a Choi, Woon
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| 041 |
0 |
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|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
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|a IMF Working Papers
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| 028 |
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|a 10.5089/9781451854497.001
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| 856 |
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|u https://elibrary.imf.org/view/journals/001/2001/122/001.2001.issue-122-en.xml?cid=15294-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
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|a 330
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| 520 |
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|a Based on an analysis of high-frequency panel data for U.S. firms, this paper finds that inventory investment has been liquidity-constrained in most periods during 1975-97, but less so, or not at all, during recessions. This result can be justified on the grounds that inventory fluctuations are largely attributable to unexpected sales shocks, and that firms increase liquid assets before recessions. Moreover, this results holds irrespective of whether the firm has a bond rating, contrary to the finding of Kashyap, Lamont, and Stein (1994) that inventory investment is liquidity-constrained during recessions only for firms without bond ratings
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