Download or read book Can the Production Smoothing Model of Inventory Behavior be Saved written by Alan S. Blinder and published by . This book was released on 1984 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: The production smoothing model of inventory behavior has a long and venerable history, and theoretical foundations which seem very strong. Yet certain overwhelming facts seem not only to defy explanation within the production smoothing framework, but actually to argue that the basic idea of production smoothing is all wrong. Most prominent wnong these is the fact that the variance of detrended production exceeds the variance of detrended sales. This paper first documents the stylized facts. Then it derives the production smoothing model rigorously and explains how the model can be amended to make it consistent with the facts. Next, estimates of stock adjustment equations derived from the theory are presented and evaluated. Finally, it reviews the theoretical and empirical evidence and tries to drawsome tentative conclusions.
Download or read book On Saving the Production Smoothing Model of Inventory Behavior written by C. Y. Cyrus Chu and published by . This book was released on 1986 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Induced Seasonality and Production smoothing Models of Inventory Behavior written by Spencer D. Krane and published by . This book was released on 1991 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A Production Smoothing Model of Aggregate Inventory Behavior with Expectation Errors Generated by Model Uncertainty written by Jeffrey C. Fuhrer and published by . This book was released on 1986 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A Production Smoothing Model of Aggregate Inventory Behavior with Expectation Errors Generated by Model Uncertainty written by Jeffrey C. Fuhrer and published by . This book was released on 1985 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Macroeconomics written by Robert J. Rossana and published by Taylor & Francis. This book was released on 2011-02-25 with total page 560 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research in macroeconomics in the last thirty years has featured, almost exclusively on two characteristics: an emphasis on the microfoundations of macroeconomics and secondly, intertemporal economics, that is, the behavior of economic actors over time. Curiously, textbooks in intermediate macroeconomics have been very slow to adopt these traits. The aim of this book is to bring intermediate instruction in macroeconomics fully into line with the direction taken by the research community. Key hallmarks of the text include: a full introduction to the microfoundations of consumption and investment a complete model of the labor market with profit maximization for firms to determine labor demand and a utility maximization model to determine labor supply an analysis of the Baumol-Tobin model to determine money demand accompanied by a discussion of traditional money supply Possessing a full range of additional learning features including a companion website, test bank and instructor’s manual, the book takes an international view of macroeconomics with case studies and examples from the United States and beyond.
Download or read book Digitalization of Decentralized Supply Chains During Global Crises written by Taghipour, Atour and published by IGI Global. This book was released on 2021-06-18 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: During global crises, apart from humanitarian concerns, at the economic level, supply chains around the world can be impacted. These crises can cause huge uncertainties in both the supply and demand parts of supply chains. On one side, the demand for some products and services can be reduced. On the other side, manufacturers around the world are facing shortages of supplies of raw materials and parts because of interruptions in production, disruptions to transportation, and labor shortages. In this context, organizations start to re-examine their production and service systems based on digitization of operations to not only mitigate the risk but also to build a resilient supply chain while continuing to reduce costs and maximize profits. The question that can be asked is how the decentralized supply chains can integrate new technologies to compete in a risky environment in global crises. Digitalization of Decentralized Supply Chains During Global Crises provides new approaches of digitalization of decentralized supply chains and industries to help researchers, educators, consultants, and practitioners deal with global crises and improve the global performance of supply chains. Important topics covered include blockchain, internet of things, 3D technologies, and Industry 4.0 technologies within the context of digital supply chains. This book is important for supply chain managers, manufacturers, producers, logistics personnel, economists, practitioners, stakeholders, researchers, academicians, and students.
Download or read book Nominations of Richard Scott Carnell Susan Gaffney Edward DeSeve Arthur Levitt Jr Alan S Blinder and Joseph E Stiglitz written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 1993 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Social and Structural Change written by Karl Heinrich Oppenländer and published by Routledge. This book was released on 2019-01-04 with total page 629 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 1998, this wide-ranging and in-depth volume from specialists in economics and statistics examines leading indicators, the timing of cyclical turning points, firm behaviour, financial indicators, economic policy recommendations, transition economies and the service sector in relation to Finland’s bid for European Monetary Union membership.
Download or read book Operations Research Applications written by A. Ravi Ravindran and published by CRC Press. This book was released on 2008-11-12 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt: As operations research (OR) applications continue to grow and flourish in a number of decision making fields, a reference that is comprehensive, concise, and easy to read is more than a nicety, it is a necessity. This book provides a single volume overview of OR applications in practice, making it the first resource a practitioner would reach for w
Download or read book Inventory Theory and Consumer Behavior written by Alan S. Blinder and published by . This book was released on 1990 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: Brings together Blinder's major essays on inventory theory.
Download or read book The Rational Expectations Revolution written by Preston J. Miller and published by MIT Press. This book was released on 1994 with total page 534 pages. Available in PDF, EPUB and Kindle. Book excerpt: These 21 readings describe the orgins and growth of the macroeconomic analysis known as "rational expectations". The readings trace the development of this approach from the late 1970s to the 1990s.
Download or read book Oil in the 21st Century written by Robert Mabro and published by Oxford University Press, USA. This book was released on 2006 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt: Oil is hitting the headlines once again. The big increases in oil prices over the past two years are upsetting consumers and puzzling producers. The reasons are difficult to understand, since few people are familiar with the complex workings of the price regime for oil in international trade. It is said that sluggish investment is a major cause, but what are the reasons for inadequate investment in oil producing and refining plants during the last 20 years? Does oil have a future? We are told that oil production will soon peak because the rate of production is higher than replacement rates. Climate change problems are casting a shadow over the future of fossil fuels. There may, however, be a solution to the nefarious CO2 emissions in, for instance, technologies that sequestrate carbon. Oil's stronghold is the transport sector: cars, trucks, railway engines, planes, ships. The demand for oil would suffer a fatal blow if technical innovations in car engines make it possible to use an alternative fuel to petrol or diesel. New energy sources - wind, solar, tide, waves, geo-thermal - are both renewable and environment-friendly. Do they represent a threat to the future of oil? An international team of experts addresses these highly topical questions in this comprehensive volume.
Download or read book The Rational Expectations Equilibrium Inventory Model written by Tryphon Kollintzas and published by Springer Science & Business Media. This book was released on 2013-03-08 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book The American Economic Review written by and published by . This book was released on 2004 with total page 524 pages. Available in PDF, EPUB and Kindle. Book excerpt: Includes annual List of doctoral dissertations in political economy in progress in American universities and colleges.
Download or read book Seasonality Cost Shocks and the Production Smoothing Model of Inventories written by and published by . This book was released on 1989 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: A great deal of research on the empirical behavior of inventories examines some variant of the production smoothing model of finished goods inventories. The overall assessment of this model that exists in the literature is quite negative: there is little evidence that manufacturers hold inventories of finished goods in order to smooth production patterns. This paper examines whether this negative assessment of the model is due to one or both of two features: costs shocks and seasonal fluctuations. The reason for considering costs shocks is that if firms are buffeted more by cost shocks than demand shocks, production should optimally be more variable than sales. The reasons for considering seasonal fluctuations are that seasonal fluctuations account for a major portion of the variance in production and sales, that seasonal fluctuations are precisely the kinds of fluctuations that producers should most easily smooth, and that seasonally adjusted data is likely to produce spurious rejections of the production smoothing model even when it is correct. We integrate cost shocks and seasonal fluctuations into the analysis of the production smoothing model in three steps. First, we present a general production smoothing model of inventory investment that is consistent with both seasonal and non-seasonal fluctuations in production, sales, and inventories. The model allows for both observable and unobservable changes in marginal costs. Second, we estimate this model using both seasonally adjusted and seasonally unadjusted data plus seasonal dummies. The goal here is to determine whether the incorrect use of seasonally adjusted data has been responsible for the rejections of the production smoothing model reported in previous studies. The third part of our approach is to explicitly examine the seasonal movements in the data. We test whether the residual from an Euler equation is uncorrelated with the seasonal component of contemporaneous sales. Even if unobservable seasonal cost shocks make the seasonal v.
Download or read book International Journal of Production Economics written by and published by . This book was released on 2002 with total page 640 pages. Available in PDF, EPUB and Kindle. Book excerpt:
