Three Essays in Empirical Asset Pricing
Inventory investment is volatile and procyclical, the inventory-sales ratio is persistent and countercyclical (Bils & Kahn, 2000; Blinder, 1986; Christiano, 1988), this is one of the stylized facts documented in the macroeconomic inventory behavior studies. Blinder (1986) states: “business cycle...
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| Format: | Thesis (University of Nottingham only) |
| Language: | English |
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2021
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| Online Access: | https://eprints.nottingham.ac.uk/66267/ |