Galeotti, Marzio; Maccini, Louis J.; Schiantarelli, Fabio - Institute for the Study of Labor (IZA) - 2002
The purpose of this paper is to develop a model that integrates inventory and labor decisions. We extend a model of … inventory behavior to include a detailed specification of the role of labor input in the production process and of the costs … and the role of labor hoarding as an explanation of procyclical productivity and the persistence of inventory stocks …