| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w0491 |
| 来源ID | Working Paper 0491 |
| Components of Manufacturing Inventories | |
| Alan J. Auerbach; Jerry R. Green | |
| 发表日期 | 1980-06-01 |
| 出版年 | 1980 |
| 语种 | 英语 |
| 摘要 | This paper presents a structural model of production and inventory accumulation based on the hypothesis of cost minimization. It differs from previous attempts in several respects. First, it integrates the analysis of input inventories with output inventories, treating the two stocks separately. Second, it distinguishes between temporary and permanent fluctuations in sales as they are anticipated by the industry. Third, it allows for a more general structure of adjustment costs, and in particular for a cost changing the production level rather than only for deviations of the production level from a fixed target. Empirically, there are three principal conclusions. This model performs much better than those with no cost of production adjustment allowed. Disaggregation of inventories provides significant insights into the dynamics of the adjustment process. However, the restrictions on our model implied by the continuous-time stochastic control theory that we utilize are rejected by the data. We believe that a more disaggregated specification or a more detailed econometric treatment of the discrete-time nature of the observations would avoid this difficulty. |
| URL | https://www.nber.org/papers/w0491 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/557678 |
| 推荐引用方式 GB/T 7714 | Alan J. Auerbach,Jerry R. Green. Components of Manufacturing Inventories. 1980. |
| 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 | ||
| w0491.pdf（390KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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