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A simple real linear-quadratic inventory model is used to determine how cost and demand shocks interacted to cause fluctuations in aggregate GNP and inventories in the U.S., 1947-1986. Cost shocks appear to be the predominant source of fluctuations in inventories, and are largely responsible for...
Persistent link: https://www.econbiz.de/10012476056
A simple real linear-quadratic inventory model is used to determine how cost and demand shocks interacted to cause fluctuations in aggregate GNP and inventories in the U.S., 1947-1986. Cost shocks appear to be the predominant source of fluctuations in inventories, and are largely responsible for...
Persistent link: https://www.econbiz.de/10013243442
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data. Making use of the suggested ordering, bilateral Tornqvist price and quantity indexes are calculated and multilateral … trade differences, factor endowments differences and domestic output price differences. The newly formed indexes are base …
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