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The paper shows that taking inventory control out of the hands of competitive or exclusive retailers and assigning it … because doing so solves incentive distortions that arise when retailers have to allocate inventory across sales periods, and … thus allows for better intertemporal price discrimination. Assigning inventory control to a manufacturer is also shown to …
Persistent link: https://www.econbiz.de/10011742575
shipments. In our inventory model, transportation costs and optimal shipment frequency are determined on the basis of demand as … well as inventory and per shipments costs. Using a cross section of monthly firm-product-destination level French export …
Persistent link: https://www.econbiz.de/10010338670
The paper develops a simple theoretical model of inventory control in global supply chains. It identifies a role for … intermediaries in managing inventory, and shows that inserting an intermediary as an additional link in a supply chain is profitable … when demand volatility is high. It also provides conditions under which the intermediary handling inventory is located in …
Persistent link: https://www.econbiz.de/10010496944
We develop a dynamic model of inventory investment and trade to examine how firms adjust to changes in international … are shown to significantly reduce both the inventory-sales and the import-sales ratios, as the firm adjusts its stockout …
Persistent link: https://www.econbiz.de/10013536154
We study the effects of news shocks on inventory accumulation in a structural VAR framework. We establish that … inventories react strongly and positively to news about future increases in total factor productivity. Theory suggests that the …
Persistent link: https://www.econbiz.de/10012119865
when extended to include inventories. To explain the empirical inventory behavior, we therefore develop a framework that … higher future TFP through knowledge capital drives output and hours choices on the arrival of news and leads to inventory …
Persistent link: https://www.econbiz.de/10012213178
Robust decision making implies welfare costs or robustness premia when the approximating model is the true data generating process. To examine the importance of these premia at the aggregate level we employ a simple two-sector dynamic general equilibrium model with human capital and introduce an...
Persistent link: https://www.econbiz.de/10008697052
Persistent link: https://www.econbiz.de/10003496553
This paper extends the transformed maximum likelihood approach for estimation of dynamic panel data models by Hsiao, Pesaran, and Tahmiscioglu (2002) to the case where the errors are cross-sectionally heteroskedastic. This extension is not trivial due to the incidental parameters problem that...
Persistent link: https://www.econbiz.de/10009570680
Quarterly GDP figures usually are published with a delay of some weeks. A common way to generate GDP series of higher frequency, i.e. to nowcast GDP, is to use available indicators to calculate a single index by means of a common factor derived from a dynamic factor model (DFM). This paper deals...
Persistent link: https://www.econbiz.de/10010229863