Replication data for: The Interest Rate, Learning, and Inventory Investment
Principal Investigator(s): View help for Principal Investigator(s) Louis J. Maccini; Bartholomew J. Moore; Huntley Schaller
Version: View help for Version V2
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| data | 06/27/2025 03:53:PM | ||
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text/plain | 14.6 KB | 08/12/2025 07:54:AM |
Project Citation:
Maccini, Louis J., Moore, Bartholomew J., and Schaller, Huntley. Replication data for: The Interest Rate, Learning, and Inventory Investment. Nashville, TN: American Economic Association [publisher], 2025. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2025-08-12. https://doi.org/10.3886/E229601V2
Project Description
Summary:
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This paper presents a model that provides an explanation, based on regime switching in the real interest rate and learning, of why tests based on stock adjustment models, Euler equations, or decision rules—which emphasize short-run fluctuations in inventories and the interest rate—are unlikely to uncover a negative relationship between inventories and the real interest rate. The model, however, predicts that inventories will respond to long-run movements, that is, to regime shifts in the real interest rate. Tests emphasizing cointegration techniques confirm this prediction and show a significant long-run relationship between inventories and the real interest rate.
Scope of Project
JEL Classification:
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D25 Intertemporal Firm Choice: Investment, Capacity, and Financing
E22 Investment; Capital; Intangible Capital; Capacity
D25 Intertemporal Firm Choice: Investment, Capacity, and Financing
E22 Investment; Capital; Intangible Capital; Capacity
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