The Rational Expectations Equilibrium Inventory Model: Theory and Applications: 322 - Brossura

Kollintzas, Tryphon

 
9780387969404: The Rational Expectations Equilibrium Inventory Model: Theory and Applications: 322
Brossura
ISBN 10: 0387969403 ISBN 13: 9780387969404
Casa editrice: Springer US, 1989

Sinossi

This volume consists of six essays that develop and/or apply "rational expectations equilibrium inventory models" to study the time series behavior of production, sales, prices, and inventories at the industry level. By "rational expectations equilibrium inventory model" I mean the extension of the inventory model of Holt, Modigliani, Muth, and Simon (1960) to account for: (i) discounting, (ii) infinite horizon planning, (iii) observed and unobserved by the "econometrician" stochastic shocks in the production, factor adjustment, storage, and backorders management processes of firms, as well as in the demand they face for their products; and (iv) rational expectations. As is well known according to the Holt et al. model firms hold inventories in order to: (a) smooth production, (b) smooth production changes, and (c) avoid stockouts. Following the work of Zabel (1972), Maccini (1976), Reagan (1982), and Reagan and Weitzman (1982), Blinder (1982) laid the foundations of the rational expectations equilibrium inventory model. To the three reasons for holding inventories in the model of Holt et al. was added (d) optimal pricing. Moreover, the popular "accelerator" or "partial adjustment" inventory behavior equation of Lovell (1961) received its microfoundations and thus overcame the "Lucas critique of econometric modelling.

Le informazioni nella sezione "Riassunto" possono far riferimento a edizioni diverse di questo titolo.

Contenuti

I: The Linear Rational Expectations Equilibrium Inventory Model: An Introduction.- II: Inventories and Price Fluctuations under Perfect Competition and Monopoly.- III: Temporal Aggregation and the Stock Adjustment Model of Inventories.- IV: A Linear Rational Expectations Equilibrium Model for the American Petroleum Industry.- V: Seasonality, Cost Shocks, and the Production Smoothing Model of Inventories.- VI: Order Backlogs and Production Smoothing.

Le informazioni nella sezione "Su questo libro" possono far riferimento a edizioni diverse di questo titolo.

Editore
Springer US
Data di pubblicazione
1989
Lingua
Inglese
ISBN 10 
0387969403
ISBN 13 
9780387969404
Rilegatura
Copertina flessibile
Numero di pagine
292
Contatto del produttore
ProductSafety@springernature.com
ProductSafety@springernature.com

Poststr. 9
Darmstadt
64293
Germania

Altre edizioni note dello stesso titolo

9783540969402: The Rational Expectations Equilibrium Inventory Model: Theory and Applications

Edizione in evidenza

ISBN 10:  3540969403 ISBN 13:  9783540969402
Casa editrice: Springer-Verlag Berlin and Heide..., 1989
Brossura