{"id":"https://openalex.org/W2129622334","doi":"https://doi.org/10.1017/s1365100514000418","title":"WHAT DO WORKING CAPITAL AND HABIT TELL US ABOUT THE CO-MOVEMENT PROBLEM?","display_name":"WHAT DO WORKING CAPITAL AND HABIT TELL US ABOUT THE CO-MOVEMENT PROBLEM?","publication_year":2014,"publication_date":"2014-07-24","ids":{"openalex":"https://openalex.org/W2129622334","doi":"https://doi.org/10.1017/s1365100514000418","mag":"2129622334"},"language":"en","primary_location":{"id":"doi:10.1017/s1365100514000418","doi":"https://doi.org/10.1017/s1365100514000418","is_oa":false,"landing_page_url":"https://doi.org/10.1017/s1365100514000418","pdf_url":null,"source":{"id":"https://openalex.org/S136745531","display_name":"Macroeconomic Dynamics","issn_l":"1365-1005","issn":["1365-1005","1469-8056"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","erih-plus","jufo-1","norway-1","poland-100","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310311721","host_organization_name":"Cambridge University Press","host_organization_lineage":["https://openalex.org/P4310311721","https://openalex.org/P4310311702"],"host_organization_lineage_names":["Cambridge University Press","University of Cambridge"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Macroeconomic Dynamics","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5069816344","display_name":"Yi-Chan Tsai","orcid":"https://orcid.org/0000-0002-8803-244X","observed_orcids":["https://orcid.org/0000-0002-8803-244X"]},"institutions":[{"id":"https://openalex.org/I16733864","display_name":"National Taiwan University","ror":"https://ror.org/05bqach95","country_code":"TW","type":"education","lineage":["https://openalex.org/I16733864"]}],"countries":["TW"],"is_corresponding":true,"raw_author_name":"Yi-Chan Tsai","raw_affiliation_strings":["National Taiwan University"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"National Taiwan University","institution_ids":["https://openalex.org/I16733864"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5069816344"],"corresponding_institution_ids":["https://openalex.org/I16733864"],"apc_list":{"value":3550,"currency":"USD","value_usd":3550},"apc_paid":null,"fwci":3.7378,"has_fulltext":false,"cited_by_count":12,"citation_normalized_percentile":{"value":0.94134368,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":88,"max":96},"biblio":{"volume":"20","issue":"1","first_page":"342","last_page":"361"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.9761000275611877,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.9761000275611877,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12137","display_name":"Economic theories and models","score":0.0215000007301569,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11742","display_name":"Economic Theory and Policy","score":0.0008999999845400453,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/durable-goods-consumption","display_name":"durable goods consumption","score":0.6909999847412109},{"id":"https://openalex.org/keywords/working-capital","display_name":"working capital","score":0.8389999866485596},{"id":"https://openalex.org/keywords/habit-formation","display_name":"habit formation","score":0.9729999899864197},{"id":"https://openalex.org/keywords/monetary-policy-shocks","display_name":"monetary policy shocks","score":0.8019999861717224},{"id":"https://openalex.org/keywords/interest-rate-shocks","display_name":"interest rate shocks","score":0.8769999742507935},{"id":"https://openalex.org/keywords/financial-frictions","display_name":"financial frictions","score":0.7580000162124634},{"id":"https://openalex.org/keywords/two-sector-model","display_name":"two-sector model","score":0.7170000076293945},{"id":"https://openalex.org/keywords/consumption-smoothing","display_name":"consumption smoothing","score":0.7059999704360962}],"concepts":[{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.7819909453392029},{"id":"https://openalex.org/C61933577","wikidata":"https://www.wikidata.org/wiki/Q2184715","display_name":"Durable good","level":2,"score":0.7649516463279724},{"id":"https://openalex.org/C118661131","wikidata":"https://www.wikidata.org/wiki/Q1671781","display_name":"Capital good","level":3,"score":0.7381794452667236},{"id":"https://openalex.org/C30772137","wikidata":"https://www.wikidata.org/wiki/Q5164762","display_name":"Consumption (sociology)","level":2,"score":0.7141180038452148},{"id":"https://openalex.org/C83646750","wikidata":"https://www.wikidata.org/wiki/Q193893","display_name":"Capital (architecture)","level":2,"score":0.7044683694839478},{"id":"https://openalex.org/C2781300812","wikidata":"https://www.wikidata.org/wiki/Q178061","display_name":"Shock (circulatory)","level":2,"score":0.6441488265991211},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.5899198651313782},{"id":"https://openalex.org/C2778348673","wikidata":"https://www.wikidata.org/wiki/Q739302","display_name":"Production (economics)","level":2,"score":0.5885718464851379},{"id":"https://openalex.org/C60679458","wikidata":"https://www.wikidata.org/wiki/Q823288","display_name":"Working capital","level":2,"score":0.587045431137085},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.35041314363479614},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.11951082944869995},{"id":"https://openalex.org/C162222271","wikidata":"https://www.wikidata.org/wiki/Q92779871","display_name":"Public good","level":2,"score":0.06015560030937195},{"id":"https://openalex.org/C95457728","wikidata":"https://www.wikidata.org/wiki/Q309","display_name":"History","level":0,"score":0.0},{"id":"https://openalex.org/C144024400","wikidata":"https://www.wikidata.org/wiki/Q21201","display_name":"Sociology","level":0,"score":0.0},{"id":"https://openalex.org/C126322002","wikidata":"https://www.wikidata.org/wiki/Q11180","display_name":"Internal medicine","level":1,"score":0.0},{"id":"https://openalex.org/C71924100","wikidata":"https://www.wikidata.org/wiki/Q11190","display_name":"Medicine","level":0,"score":0.0},{"id":"https://openalex.org/C166957645","wikidata":"https://www.wikidata.org/wiki/Q23498","display_name":"Archaeology","level":1,"score":0.0},{"id":"https://openalex.org/C36289849","wikidata":"https://www.wikidata.org/wiki/Q34749","display_name":"Social science","level":1,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1017/s1365100514000418","doi":"https://doi.org/10.1017/s1365100514000418","is_oa":false,"landing_page_url":"https://doi.org/10.1017/s1365100514000418","pdf_url":null,"source":{"id":"https://openalex.org/S136745531","display_name":"Macroeconomic Dynamics","issn_l":"1365-1005","issn":["1365-1005","1469-8056"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","erih-plus","jufo-1","norway-1","poland-100","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310311721","host_organization_name":"Cambridge University Press","host_organization_lineage":["https://openalex.org/P4310311721","https://openalex.org/P4310311702"],"host_organization_lineage_names":["Cambridge University Press","University of Cambridge"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Macroeconomic Dynamics","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:cup:macdyn:v:20:y:2016:i:01:p:342-361_00","doi":null,"is_oa":false,"landing_page_url":"https://www.cambridge.org/core/product/identifier/S1365100514000418/type/journal_article","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":null,"sustainable_development_goals":[{"display_name":"Decent work and economic growth","score":0.7825999855995178,"id":"https://metadata.un.org/sdg/8"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":27,"referenced_works":["https://openalex.org/W179963684","https://openalex.org/W1500901795","https://openalex.org/W1533797331","https://openalex.org/W1550036108","https://openalex.org/W1553781990","https://openalex.org/W1985130276","https://openalex.org/W2005625768","https://openalex.org/W2032290065","https://openalex.org/W2052144870","https://openalex.org/W2063515507","https://openalex.org/W2072799135","https://openalex.org/W2084821910","https://openalex.org/W2101126760","https://openalex.org/W2123241258","https://openalex.org/W2127680685","https://openalex.org/W2135814741","https://openalex.org/W2138735870","https://openalex.org/W2156155512","https://openalex.org/W2284482160","https://openalex.org/W2522384090","https://openalex.org/W2891825989","https://openalex.org/W3121293400","https://openalex.org/W3124198157","https://openalex.org/W3124334980","https://openalex.org/W3124765495","https://openalex.org/W3125708217","https://openalex.org/W4241753305"],"related_works":["https://openalex.org/W1550036108","https://openalex.org/W2565097735","https://openalex.org/W1510569945","https://openalex.org/W2898455961","https://openalex.org/W2910519032","https://openalex.org/W1481457862","https://openalex.org/W2137460256","https://openalex.org/W7096159550","https://openalex.org/W2406056324","https://openalex.org/W1991603879"],"abstract_inverted_index":{"Empirical":[0],"studies":[1],"find":[2],"that":[3,38,64],"expenditures":[4],"on":[5],"both":[6,103],"durable":[7,30,104,147],"and":[8,28,105,122,138],"nondurable":[9,25,83,106,119,129],"goods":[10,26,31,84,120,130,148],"fall":[11,126],"following":[12],"a":[13,45,60,87,141],"contractionary":[14,46],"monetary":[15],"policy":[16,47],"shock.":[17,48],"However,":[18],"in":[19,42,82,127,145,152],"standard":[20],"two-sector":[21],"models":[22],"with":[23,79],"staggered":[24],"prices":[27],"flexible":[29],"prices,":[32],"consumption":[33],"of":[34,39,102,118],"durables":[35],"rises":[36],"whereas":[37],"nondurables":[40],"falls":[41],"response":[43,144],"to":[44,58,73,113],"To":[49],"resolve":[50],"this":[51],"co-movement":[52,136],"problem,":[53],"I":[54],"extend":[55],"the":[56,92,115,125,128,135,146,153],"model":[57,133],"include":[59],"realistic":[61],"financial":[62],"friction":[63],"firms":[65],"must":[66],"pay":[67],"for":[68],"their":[69],"productive":[70],"inputs":[71],"prior":[72],"production,":[74],"i.e.,":[75],"working":[76,93],"capital,":[77],"along":[78],"habit":[80,109],"formation":[81,110],"consumption.":[85],"Following":[86],"positive":[88],"interest":[89],"rate":[90,117],"shock,":[91],"capital":[94],"channel":[95],"raises":[96],"production":[97,101],"costs,":[98],"thereby":[99],"discouraging":[100],"goods.":[107],"Furthermore,":[108],"induces":[111],"households":[112],"smooth":[114],"growth":[116],"consumption,":[121],"hence":[123],"mitigates":[124],"sector.":[131],"The":[132],"solves":[134],"problem":[137],"successfully":[139],"generates":[140],"more":[142],"sensitive":[143],"sector,":[149],"as":[150],"observed":[151],"data.":[154]},"counts_by_year":[{"year":2025,"cited_by_count":2},{"year":2021,"cited_by_count":1},{"year":2019,"cited_by_count":1},{"year":2018,"cited_by_count":2},{"year":2017,"cited_by_count":1},{"year":2016,"cited_by_count":1},{"year":2015,"cited_by_count":2},{"year":2012,"cited_by_count":2}],"updated_date":"2026-10-31T12:09:11.096373","created_date":"2016-06-24T00:00:00"}