| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP15191 |
| DP15191 Financial Returns to Household Inventory Management | |
| Scott Baker; Stephanie Johnson; Lorenz Kueng | |
| 发表日期 | 2020-08-22 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | Households tend to hold substantial amounts of non-financial assets in the form of inventory. Households can obtain significant financial returns from strategic shopping and optimally managing these inventories of consumer goods. In addition, they choose to maintain liquid savings - household working capital - not just for precautionary motives but also to support this inventory management. We demonstrate that households earn high returns from inventory management at low levels of inventory, though returns decline rapidly as inventory levels increase. We provide evidence using scanner and survey data that supports this conclusion. High returns from inventory management that are declining in wealth offer a new rationale for poorer households not to participate in risky financial markets, while wealthier households invest in both financial assets and working capital. |
| 主题 | Financial Economics ; Monetary Economics and Fluctuations ; Public Economics |
| 关键词 | Household working capital Stock market participation Financial returns Inventory Stockpiling |
| URL | https://cepr.org/publications/dp15191 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/544161 |
| 推荐引用方式 GB/T 7714 | Scott Baker,Stephanie Johnson,Lorenz Kueng. DP15191 Financial Returns to Household Inventory Management. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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