| 来源类型 | FEEM working papers "Note di lavoro" series |
| 规范类型 | 论文 |
| Production Smoothing and the Shape of the Cost Function | |
| Marzio Galeotti; Luigi Guiso; Brian Sack; Fabio Schiantarelli | |
| 发表日期 | 1997 |
| 出处 | Climate Change and Sustainable Development |
| 出版年 | 1997 |
| 语种 | 英语 |
| 摘要 | We present estimates of inventory models based on firm level panel data and investigate whether over-simplified specification of the production technology may account for the frequent failure to find technological incentives to smooth production in the context of the standard linear-quadratic model of inventory behavior. In particular, we argue that if the role of quasi-fixed factors is not modeled properly, this may lead to inconsistent estimates of marginal costs and, therefore, to erroneous conclusions about the convexity/concavity of the cost function. The model is accordingly extended to allow for a general restricted quadratic cost function, on the assumption that capital is costly to adjust. The evidence obtained by estimating the standard inventory model on a panel of Italian manufacturing firms suggests that marginal costs are decreasing. However, this result is overturned when one allows for the general quadratic cost function with capital as a quasi-fixed input, implying that the firm's technology provides incentives to smooth production. |
| 特色分类 | D21,D92,E22 |
| 关键词 | Inventories,Production Smoothing,Cost Function |
| URL | https://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/production-smoothing-and-the-shape-of-the-cost-function/ |
| 来源智库 | Fondazione Eni Enrico Mattei (Italy) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/116211 |
| 推荐引用方式 GB/T 7714 | Marzio Galeotti,Luigi Guiso,Brian Sack,et al. Production Smoothing and the Shape of the Cost Function. 1997. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| NDL1997-012.pdf（105KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
