Based on an analysis of high-frequency panel data for U.S. firms, this paper finds that inventory investment has been … justified on the grounds that inventory fluctuations are largely attributable to unexpected sales shocks, and that firms …, contrary to the finding of Kashyap, Lamont, and Stein (1994) that inventory investment is liquidity-constrained during …

presented rejecting these models' specifications of how information asymmetry and inventory accumulation affect dealer pricing … through which dealer inventories evolve. This approach is consistent with inventory evolution data and with general …

causes inventory imbalances. Previous work has argued that market makers change prices to manage incoming flows and offset … inventory imbalances. This study argues that they have multiple instruments, or ways to manage inventory imbalances and learn … about evolving asset values. Hence, they smooth inventory levels and update prior information about assets using multiple …

This paper analyzes the stochastic inventory control problem when the demand distribution is not known. In contrast to … previous Bayesian inventory models, this paper adopts a non-parametric Bayesian approach in which the firm’s prior information …

In the United States and a few European countries, inventory behavior is mainly the outcome of demand shocks: a … characterizes inventory behavior. …

base metals. In contrast, shocks to apparent commodity-specific consumption (in part reflecting inventory demand) have no …