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second is that inventory movements are quite persistent, even conditional on sales. To consider explanations for the two …, or some third, alternative provides a satisfactory explanation of inventory behavior. We suggest several directions for … future research that promise to improve our understanding of inventory behavior and thus of business cycles …
Persistent link: https://www.econbiz.de/10013210702
Econometric aspects of recent research on inventory models are surveyed. The discussion emphasizes issues relevant to … instrumental variables estimation of a first order condition of the Holt et al. (1960) linear quadratic inventory model, including … paper also briefly discusses estimation of a decision rule implied by the model, and, finally, the impliations for inventory …
Persistent link: https://www.econbiz.de/10013226948
This paper has two purposes. One is to assess different models of inventory behavior in terms of their ability to well … inventory movements. We find that the basic production level smoothing model of inventories, augmented by buffer stock motives … inventory data …
Persistent link: https://www.econbiz.de/10013234942
We present a model that characterizes the relationship between optimal dynamic cash management and the choice of the means of payment. The novel feature of the model is the sequential nature of the payments choice: in each instant the agent can choose to pay with either cash or credit. This...
Persistent link: https://www.econbiz.de/10013024148
excess inventory (we assume a lost sales model) to the next period. In period t 1, the supplier designs a new contract based … on his belief of the retailer's inventory and the game is played dynamically. We assume that short-term contracts are … used, i.e., the contracting is dynamic and is done at the beginning of each period. Second, we assume that the inventory …
Persistent link: https://www.econbiz.de/10014047671
optimal response of inventory-holding firms rather than ad hoc price dynamics …
Persistent link: https://www.econbiz.de/10013310250
. The implications of the theory both for measurement and government policy are examined …
Persistent link: https://www.econbiz.de/10013135410
We use broad-based yet detailed data from the economy's goods-producing sectors to investigate firms' ownership of production chains. It does not appear that vertical ownership is primarily used to facilitate transfers of goods along the production chain, as is often presumed: Roughly one-half...
Persistent link: https://www.econbiz.de/10013066186
We develop a model of the joint capital structure decisions of banks and their borrowers. Strikingly high bank leverage emerges naturally from the interplay between two sets of forces. First, seniority and diversification reduce bank asset volatility by an order of magnitude relative to that of...
Persistent link: https://www.econbiz.de/10013072879
The adoption and diffusion of inputs in the production network is at the heart of technological progress. What determines which inputs are initially considered and eventually adopted by innovators? We examine the evolution of input linkages from a network perspective, starting from a stylized...
Persistent link: https://www.econbiz.de/10013055829