{"id":"https://openalex.org/W2138557261","doi":"https://doi.org/10.20955/wp.2005.046","title":"The Multiplier: A General Equilibrium Analysis of Multi-Stage-Fabrication Economy with Inventories","display_name":"The Multiplier: A General Equilibrium Analysis of Multi-Stage-Fabrication Economy with Inventories","publication_year":2005,"publication_date":"2005-01-01","ids":{"openalex":"https://openalex.org/W2138557261","doi":"https://doi.org/10.20955/wp.2005.046","mag":"2138557261"},"language":"en","primary_location":{"id":"doi:10.20955/wp.2005.046","doi":"https://doi.org/10.20955/wp.2005.046","is_oa":true,"landing_page_url":"https://doi.org/10.20955/wp.2005.046","pdf_url":"https://s3.amazonaws.com/real.stlouisfed.org/wp/2005/2005-046.pdf","source":null,"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Federal Reserve Bank of St. Louis","raw_type":"report"},"volume":null,"type":"report","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"gold","oa_url":"https://s3.amazonaws.com/real.stlouisfed.org/wp/2005/2005-046.pdf","any_repository_has_fulltext":null},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5038325850","display_name":"Yi Wen","orcid":"https://orcid.org/0000-0001-5658-1578","observed_orcids":["https://orcid.org/0000-0001-5658-1578","https://orcid.org/0000-0001-9056-8860"]},"institutions":[{"id":"https://openalex.org/I205783295","display_name":"Cornell University","ror":"https://ror.org/05bnh6r87","country_code":"US","type":"education","lineage":["https://openalex.org/I205783295"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"Yi Wen","raw_affiliation_strings":["Department of Economics Cornell University Ithaca , NY 14853 , USA","Cornell University"],"raw_orcid":"https://orcid.org/0000-0001-5658-1578","affiliations":[{"raw_affiliation_string":"Department of Economics Cornell University Ithaca , NY 14853 , USA","institution_ids":["https://openalex.org/I205783295"]},{"raw_affiliation_string":"Cornell University","institution_ids":["https://openalex.org/I205783295"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5038325850"],"corresponding_institution_ids":["https://openalex.org/I205783295"],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":true,"cited_by_count":11,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.8931000232696533,"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":0.8931000232696533,"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/T11742","display_name":"Economic Theory and Policy","score":0.05389999970793724,"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":0.04320000112056732,"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"}}],"keywords":[{"id":"https://openalex.org/keywords/multi-stage-production","display_name":"multi-stage production","score":0.8889999985694885},{"id":"https://openalex.org/keywords/inventory-investment","display_name":"inventory investment","score":0.7390000224113464},{"id":"https://openalex.org/keywords/demand-uncertainty","display_name":"demand uncertainty","score":0.7020000219345093},{"id":"https://openalex.org/keywords/error-propagation","display_name":"error propagation","score":0.7870000004768372},{"id":"https://openalex.org/keywords/business-cycles","display_name":"business cycles","score":0.35199999809265137},{"id":"https://openalex.org/keywords/aggregate-output","display_name":"aggregate production","score":0.6470000147819519},{"id":"https://openalex.org/keywords/employment","display_name":"employment","score":0.9419999718666077},{"id":"https://openalex.org/keywords/input-output-linkages","display_name":"input-output linkages","score":0.7940000295639038},{"id":"https://openalex.org/keywords/general-equilibrium-model","display_name":"general equilibrium model","score":0.5960000157356262}],"concepts":[{"id":"https://openalex.org/C124584101","wikidata":"https://www.wikidata.org/wiki/Q1053266","display_name":"Multiplier (economics)","level":2,"score":0.6063613891601562},{"id":"https://openalex.org/C146357865","wikidata":"https://www.wikidata.org/wiki/Q1123245","display_name":"Stage (stratigraphy)","level":2,"score":0.5403301119804382},{"id":"https://openalex.org/C136525101","wikidata":"https://www.wikidata.org/wiki/Q5428139","display_name":"Fabrication","level":3,"score":0.512241780757904},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.4246438145637512},{"id":"https://openalex.org/C144237770","wikidata":"https://www.wikidata.org/wiki/Q747534","display_name":"Mathematical economics","level":1,"score":0.41794273257255554},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.3772431015968323},{"id":"https://openalex.org/C97355855","wikidata":"https://www.wikidata.org/wiki/Q11473","display_name":"Thermodynamics","level":1,"score":0.3667660355567932},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.3240818381309509},{"id":"https://openalex.org/C165556158","wikidata":"https://www.wikidata.org/wiki/Q83937","display_name":"Keynesian economics","level":1,"score":0.2692422866821289},{"id":"https://openalex.org/C127313418","wikidata":"https://www.wikidata.org/wiki/Q1069","display_name":"Geology","level":0,"score":0.1731841266155243},{"id":"https://openalex.org/C121332964","wikidata":"https://www.wikidata.org/wiki/Q413","display_name":"Physics","level":0,"score":0.14176958799362183},{"id":"https://openalex.org/C71924100","wikidata":"https://www.wikidata.org/wiki/Q11190","display_name":"Medicine","level":0,"score":0.056720584630966187},{"id":"https://openalex.org/C204787440","wikidata":"https://www.wikidata.org/wiki/Q188504","display_name":"Alternative medicine","level":2,"score":0.0},{"id":"https://openalex.org/C142724271","wikidata":"https://www.wikidata.org/wiki/Q7208","display_name":"Pathology","level":1,"score":0.0},{"id":"https://openalex.org/C151730666","wikidata":"https://www.wikidata.org/wiki/Q7205","display_name":"Paleontology","level":1,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.20955/wp.2005.046","doi":"https://doi.org/10.20955/wp.2005.046","is_oa":true,"landing_page_url":"https://doi.org/10.20955/wp.2005.046","pdf_url":"https://s3.amazonaws.com/real.stlouisfed.org/wp/2005/2005-046.pdf","source":null,"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Federal Reserve Bank of St. Louis","raw_type":"report"},{"id":"pmh:oai:RePEc:fip:fedlwp:2005-046","doi":null,"is_oa":false,"landing_page_url":"http://research.stlouisfed.org/wp/2005/2005-046.pdf","pdf_url":"http://research.stlouisfed.org/wp/2005/2005-046.pdf","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":"preprint"},{"id":"pmh:oai:CiteSeerX.psu:10.1.1.369.72","doi":null,"is_oa":false,"landing_page_url":"http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.369.72","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"http://research.stlouisfed.org/wp/2005/2005-046.pdf","raw_type":"text"}],"best_oa_location":{"id":"doi:10.20955/wp.2005.046","doi":"https://doi.org/10.20955/wp.2005.046","is_oa":true,"landing_page_url":"https://doi.org/10.20955/wp.2005.046","pdf_url":"https://s3.amazonaws.com/real.stlouisfed.org/wp/2005/2005-046.pdf","source":null,"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Federal Reserve Bank of St. Louis","raw_type":"report"},"sustainable_development_goals":[{"id":"https://metadata.un.org/sdg/9","score":0.4943999946117401,"display_name":"Industry, innovation and infrastructure"},{"id":"https://metadata.un.org/sdg/8","score":0.48510000109672546,"display_name":"Decent work and economic growth"}],"sustainable_development_goals_aurora":[{"id":"https://metadata.un.org/sdg/8","score":0.6100000143051147,"display_name":"Decent work and economic growth"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W2138557261.pdf","grobid_xml":"https://content.openalex.org/works/W2138557261.grobid-xml"},"referenced_works_count":26,"referenced_works":["https://openalex.org/W1521963786","https://openalex.org/W1522221234","https://openalex.org/W1532938442","https://openalex.org/W1605761934","https://openalex.org/W1941410690","https://openalex.org/W1965254863","https://openalex.org/W1971699302","https://openalex.org/W1998434925","https://openalex.org/W2000940991","https://openalex.org/W2006381064","https://openalex.org/W2021267936","https://openalex.org/W2022402178","https://openalex.org/W2023490813","https://openalex.org/W2029546405","https://openalex.org/W2071050780","https://openalex.org/W2086714066","https://openalex.org/W2108511544","https://openalex.org/W2117047362","https://openalex.org/W2149545453","https://openalex.org/W2891603062","https://openalex.org/W2891617360","https://openalex.org/W3121419057","https://openalex.org/W3122544990","https://openalex.org/W3125454256","https://openalex.org/W6635296412","https://openalex.org/W6828820732"],"related_works":["https://openalex.org/W1510298704","https://openalex.org/W7097755039","https://openalex.org/W4299321011","https://openalex.org/W1985215012","https://openalex.org/W3121492005","https://openalex.org/W7112048922","https://openalex.org/W2166223311","https://openalex.org/W7097932569","https://openalex.org/W4300028538","https://openalex.org/W2550229808"],"abstract_inverted_index":{"This":[0],"paper":[1],"provides":[2],"a":[3,20,57],"general":[4],"equilibrium":[5],"multi-stage":[6],"production":[7,51],"model":[8,18,65],"to":[9,56],"explain":[10],"the":[11,24,74],"co-existence":[12],"and":[13,40,63],"co-movement":[14],"of":[15,27,50,68,73],"output-and":[16],"input-inventories.The":[17],"offers":[19],"neoclassical":[21],"perspective":[22],"on":[23,60],"propagation":[25],"mechanism":[26],"demand":[28,34],"uncertainty.It":[29],"reveals":[30],"that":[31],"uncertainty":[32],"in":[33],"at":[35,47],"downstream":[36],"can":[37],"be":[38],"transmitted":[39],"amplified":[41],"towards":[42],"upstream":[43],"by":[44],"inventory":[45],"investment":[46],"all":[48],"stages":[49],"via":[52],"input-output":[53],"linkages,":[54],"leading":[55],"chain-multiplier":[58],"effect":[59],"aggregate":[61],"output":[62],"employment.The":[64],"is":[66],"capable":[67],"explaining":[69],"several":[70],"long-standing":[71],"puzzles":[72],"business":[75],"cycle":[76],"associated":[77],"with":[78],"inventories.":[79]},"counts_by_year":[],"updated_date":"2026-10-16T09:59:22.235173","created_date":"2016-06-24T00:00:00"}
