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A Comparison Of A Production Smoothing Model And A Dynamic Factor Demand Model With Inventories
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Book Synopsis A Comparison of Production Smoothing Model and a Dynamic Factor Demand Model with Inventories by : H. M. M. Peeters
Download or read book A Comparison of Production Smoothing Model and a Dynamic Factor Demand Model with Inventories written by H. M. M. Peeters and published by . This book was released on 1994* with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis A Comparison of a Production Smoothing Model and a Dynamic Factor Demand Model with Inventories by : Marga Peeters
Download or read book A Comparison of a Production Smoothing Model and a Dynamic Factor Demand Model with Inventories written by Marga Peeters and published by . This book was released on 1997 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis A Comparision of a Production Smoothing Model and a Dynamic Factor Demand Model with Inventories by : Marga Peeters
Download or read book A Comparision of a Production Smoothing Model and a Dynamic Factor Demand Model with Inventories written by Marga Peeters and published by . This book was released on 1997 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Inventories in National Economies by : Attila Chikán
Download or read book Inventories in National Economies written by Attila Chikán and published by Springer. This book was released on 2018-04-05 with total page 325 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book introduces a new approach in the field of macroeconomic inventory studies: the use of multivariate statistics to evaluate long-term characteristics of inventory investments in developed countries. By analyzing a 44-year period series of annual inventory change in percentage of GDP in a set of OECD countries, disclosing their relationship to growth, industry structure and alternative uses of GDP (fixed capital investments, foreign trade and consumption), it fills a gap in the economic literature. It is generally accepted that inventories play an important role in all levels of the economy. However, while there is extensive literature on micro- (and even item-) level inventory problems, macroeconomic inventory studies are scarce. Both the long-term processes of inventory formation and their correlation with other macroeconomic factors provide interesting conclusions about economic changes and policies in our immediate past, and present important insights for the future.
Book Synopsis Two Studies of Inventory Investment by : Valerie Ann Ramey
Download or read book Two Studies of Inventory Investment written by Valerie Ann Ramey and published by . This book was released on 1987 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis A Dynamic Model for Production Smoothing and Inventory Control with Stochastic Demand by : Shyam Lal Moondra
Download or read book A Dynamic Model for Production Smoothing and Inventory Control with Stochastic Demand written by Shyam Lal Moondra and published by . This book was released on 1980 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Production Smoothing with Stochastic Demand and Related Inventory Problems by : M. J. Sobel
Download or read book Production Smoothing with Stochastic Demand and Related Inventory Problems written by M. J. Sobel and published by . This book was released on 1967 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: The dynamic single product inventory problems treated here have costs that depend on changes in production rates as well as on the rates themselves and on inventory levels. All but one of the models have stochastic demand and backorder excess demand. A discrete time model in which smoothing costs are proportional to the difference between production rates in successive periods is shown to have an optimal policy in which production decreases as inventory increases; uniform bounds are given for the optimal policy parameter values. The model generalizes to one in which employment level and production rate are separate variables. A generalized stationary analysis is given for the simpler case. When units are made sequentially in time and demand is a renewal process, the presence of smoothing costs leads to optimal policies for the minimization of average cost per unit time which are based on only two parameters and which are easily administered. Analogous results are obtained for a similar discrete time model and the resulting stationary distributions of state variables is given for the cases of demand being a Poisson process and either constant or exponentially distributed production times. (Author).
Download or read book Economics Letters written by and published by . This book was released on 1998 with total page 804 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Can the Production Smoothing Model of Inventory Behavior be Saved? by : Alan S. Blinder
Download or read book Can the Production Smoothing Model of Inventory Behavior be Saved? written by Alan S. Blinder and published by . This book was released on 1984 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: The production smoothing model of inventory behavior has a long and venerable history, and theoretical foundations which seem very strong. Yet certain overwhelming facts seem not only to defy explanation within the production smoothing framework, but actually to argue that the basic idea of production smoothing is all wrong. Most prominent wnong these is the fact that the variance of detrended production exceeds the variance of detrended sales. This paper first documents the stylized facts. Then it derives the production smoothing model rigorously and explains how the model can be amended to make it consistent with the facts. Next, estimates of stock adjustment equations derived from the theory are presented and evaluated. Finally, it reviews the theoretical and empirical evidence and tries to drawsome tentative conclusions.
Book Synopsis Seasonality, Cost Shocks, and the Production Smoothing Model of Inventories by :
Download or read book Seasonality, Cost Shocks, and the Production Smoothing Model of Inventories written by and published by . This book was released on 1989 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: A great deal of research on the empirical behavior of inventories examines some variant of the production smoothing model of finished goods inventories. The overall assessment of this model that exists in the literature is quite negative: there is little evidence that manufacturers hold inventories of finished goods in order to smooth production patterns. This paper examines whether this negative assessment of the model is due to one or both of two features: costs shocks and seasonal fluctuations. The reason for considering costs shocks is that if firms are buffeted more by cost shocks than demand shocks, production should optimally be more variable than sales. The reasons for considering seasonal fluctuations are that seasonal fluctuations account for a major portion of the variance in production and sales, that seasonal fluctuations are precisely the kinds of fluctuations that producers should most easily smooth, and that seasonally adjusted data is likely to produce spurious rejections of the production smoothing model even when it is correct. We integrate cost shocks and seasonal fluctuations into the analysis of the production smoothing model in three steps. First, we present a general production smoothing model of inventory investment that is consistent with both seasonal and non-seasonal fluctuations in production, sales, and inventories. The model allows for both observable and unobservable changes in marginal costs. Second, we estimate this model using both seasonally adjusted and seasonally unadjusted data plus seasonal dummies. The goal here is to determine whether the incorrect use of seasonally adjusted data has been responsible for the rejections of the production smoothing model reported in previous studies. The third part of our approach is to explicitly examine the seasonal movements in the data. We test whether the residual from an Euler equation is uncorrelated with the seasonal component of contemporaneous sales. Even if unobservable seasonal cost shocks make the seasonal v.
Book Synopsis Some Empirical Evidence on the Production Level and Production Cost Smoothing Models of Inventory Investment by : Martin S. Eichenbaum
Download or read book Some Empirical Evidence on the Production Level and Production Cost Smoothing Models of Inventory Investment written by Martin S. Eichenbaum and published by . This book was released on 1988 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: The production smoothing model of inventories has long been the basic paradigm within which empirical research on inventories has been conducted The basic hypothesis embedded In this model IS that inventories of finished goods serve primarily to smooth production levels in the face of fluctuating demand and convex cost functions. However once we allow for shocks to technology and the costs of producing output firms will also use inventories to shift production from periods in which production costs are relatively high to periods in which production costs are relatively low. In this sense inventories can serve to smooth production costs rather production levels. In this paper we examine the empirical plausibility of the production level and production cost smoothing models of inventories. Our basic strategy is to derive and contrast a set of unconditional moment restrictions Implied by these models in a way that minimizes the role of auxiliary assumptions regarding market structure and Industry demand. We find overwhelming evidence against the production level smoothing model and very little evidence against the production cost smoothing mode1 We conclude that the variance of production exceeds the variance of sales in most manufacturing industries because the production cost smoothing role of inventories is quantitatively more important than the production level smoothing role of inventories.
Book Synopsis Annales d'économie et de statistique by :
Download or read book Annales d'économie et de statistique written by and published by . This book was released on 1997 with total page 1156 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Comparison of Dynamic Factor Demand Models by : Peter Eric Rossi
Download or read book Comparison of Dynamic Factor Demand Models written by Peter Eric Rossi and published by . This book was released on 1987 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Contents of Recent Economics Journals by :
Download or read book Contents of Recent Economics Journals written by and published by . This book was released on 1994-08-26 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Dynamic Factor Demand Models and Production Analysis by : M. Ishaq Nadiri
Download or read book Dynamic Factor Demand Models and Production Analysis written by M. Ishaq Nadiri and published by . This book was released on 1999 with total page 109 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis A Production Smoothing Model of Aggregate Inventory Behavior with Expectation Errors Generated by Model Uncertainty by : Jeffrey C. Fuhrer
Download or read book A Production Smoothing Model of Aggregate Inventory Behavior with Expectation Errors Generated by Model Uncertainty written by Jeffrey C. Fuhrer and published by . This book was released on 1985 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Disequilibrium, Growth and Labor Market Dynamics by : Carl Chiarella
Download or read book Disequilibrium, Growth and Labor Market Dynamics written by Carl Chiarella and published by Springer Science & Business Media. This book was released on 2013-06-29 with total page 487 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book on disequilibrium, growth and labor market dynamics we take predominantly a macroeconomic perspective. We present a working model that can easily be varied in different directions in order to subsume innovations in the literature on macroeconomics, old and new, and to contribute to important currently discussed macroeconomic issues. Our working model is set up in a way that there is a close relationship between our presented dynamic models and modern macro econometric models with disequilibrium both in the labor and the goods markets. One of our objectives is, therefore, to narrow the gap between theoretical and applied structural macrodynamic model building. We hope that the book will be a useful reference for all researchers, academic teachers and practitioners of macroeconomic and macro econometric model building who are interested in economic dynamics, independently of whether they use equilibrium or disequilibrium methods in their own research. We base this hope on the fact that our approach contains a number of unique features. The emphasis on the identification and analysis of the basic feedback mechanisms at work in modern macro economies. A detailed study of the partial as well as integrated dynamic interaction between these feedback mechanisms that consti tute the interdependence of markets and sectors of the modern macro economy. The rela tionship between the macroeconomic framework of our working model and the Walrasian, Non-Walrasian and New-Keynesian reformulations of macroeconomics.
