Modelling the Cyclical Behavior of Retail and Wholesale Inventories PDF Download
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Author: C. Erik Larson
Publisher:
ISBN:
Category :
Languages : en
Pages : 318
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Book Description
Author: C. Erik Larson
Publisher:
ISBN:
Category :
Languages : en
Pages : 318
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Book Description
Author: Stanley Bober
Publisher:
ISBN:
Category :
Languages : en
Pages : 262
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Book Description
Author: Martin S. Feldstein
Publisher:
ISBN:
Category : Business cycles
Languages : en
Pages : 26
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Book Description
Firms respond to fluctuations in demand by changing their inventories and their levels of production. The relative magnitudes of the inventory and production responses have important implications for the overall cyclical behavior of the economy. Government policies that affect the costs of holding inventories and the costs of the temporary layoffs that accompany reductions in the level of output can therefore have significant effects on the magnitude of aggregate fluctuations. The current paper presents new econometric evidence on the nature of inventory adjustments and then examines how changes in inventory behavior affect the overall business cycle. The analysis in this paper was motivated by our discovery that the parameter estimates of the traditional productional adjustment model are not consistent with the observed magnitudes of inventory change and the production. We have shown here that this production adjustment model is a special case of a more general two-speed adjustment process in which both production and inventory targets adjust slowly. Our estimates of the two-speed model clearly reject the production adjustment model in favor of the target adjustment model in which the inventory target adjusts slowly to changes in sales but production adjusts rapidly to changes in the desired inventory. Our analysis of the spectral properties of a simple macroeconomic model show that the production adjustment model and the target adjustment model can imply quite different cyclical behavior of the economy as a whole. Depending on the autocorrelation of the disturbance, government policies that reduce the speed with which production responds to changes in desired inventories and that place greater reliance on inventory adjustment may stabilize national income. Further analysis of these questions with more realistic models would clearly be desirable
Author: Gary Fromm
Publisher:
ISBN: 9780444106230
Category : Economics
Languages : en
Pages : 679
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Book Description
Author: Robert J. Gordon
Publisher: University of Chicago Press
ISBN: 0226304590
Category : Business & Economics
Languages : en
Pages : 882
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Book Description
In recent decades the American economy has experienced the worst peace-time inflation in its history and the highest unemployment rate since the Great Depression. These circumstances have prompted renewed interest in the concept of business cycles, which Joseph Schumpeter suggested are "like the beat of the heart, of the essence of the organism that displays them." In The American Business Cycle, some of the most prominent macroeconomics in the United States focuses on the questions, To what extent are business cycles propelled by external shocks? How have post-1946 cycles differed from earlier cycles? And, what are the major factors that contribute to business cycles? They extend their investigation in some areas as far back as 1875 to afford a deeper understanding of both economic history and the most recent economic fluctuations. Seven papers address specific aspects of economic activity: consumption, investment, inventory change, fiscal policy, monetary behavior, open economy, and the labor market. Five papers focus on aggregate economic activity. In a number of cases, the papers present findings that challenge widely accepted models and assumptions. In addition to its substantive findings, The American Business Cycle includes an appendix containing both the first published history of the NBER business-cycle dating chronology and many previously unpublished historical data series.
Author: James A. Kahn
Publisher:
ISBN:
Category :
Languages : en
Pages : 29
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Author: United States. Small Business Administration
Publisher:
ISBN:
Category :
Languages : en
Pages : 716
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Author: University of Texas. Bureau of Business Research
Publisher:
ISBN:
Category : Economic research
Languages : en
Pages : 716
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Author: Attila Chikán
Publisher: Springer
ISBN: 1447173716
Category : Business & Economics
Languages : en
Pages : 325
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Book Description
This book introduces a new approach in the field of macroeconomic inventory studies: the use of multivariate statistics to evaluate long-term characteristics of inventory investments in developed countries. By analyzing a 44-year period series of annual inventory change in percentage of GDP in a set of OECD countries, disclosing their relationship to growth, industry structure and alternative uses of GDP (fixed capital investments, foreign trade and consumption), it fills a gap in the economic literature. It is generally accepted that inventories play an important role in all levels of the economy. However, while there is extensive literature on micro- (and even item-) level inventory problems, macroeconomic inventory studies are scarce. Both the long-term processes of inventory formation and their correlation with other macroeconomic factors provide interesting conclusions about economic changes and policies in our immediate past, and present important insights for the future.
Author: John Morecroft
Publisher: John Wiley & Sons
ISBN: 0470012862
Category : Business & Economics
Languages : en
Pages : 465
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Book Description
John Morecroft's book is an ideal text for students interested in system modelling and its application to a range of real world problems. The book covers all that is necessary to develop expertise in system dynamics modelling and through the range of applications makes a persuasive case for the power and scope of the approach. As such it will appeal to practitioners as well as students. Robert Dyson, Professor of Operational Research, Associate Dean, Warwick Business School. Much more than an introduction, John Morecroft's Strategic Modelling and Business Dynamics uses interactive "management flight simulators" to create an engaging and effective learning environment in which readers, whatever their background, can develop their intuition about complex dynamic systems. The numerous examples provide a rich test-bed for the development of systems thinking and modelling skills John Sterman, Jay W. Forrester Professor of Management, MIT Sloan School of Management This book, with its vivid examples and simulators, will help to bring modelling, system dynamics and simulation into the mainstream of management education where they now belong. John A. Quelch, Professor of Marketing, Harvard Business School, Former Dean of London Business School This text fills the gap between texts focusing on the purely descriptive systems approach and the more technical system dynamics ones. Ann van Ackere, Professor of Decision Sciences, HEC Lausanne, Universit? de Lausanne Strategic modelling based on system dynamics is a powerful tool for understanding how firms adapt to a changing environment. The author demonstrates the appeal and power of business modelling to make sense of strategic initiatives and to anticipate their impacts through simulation. The book offers various simulators that allow readers to conduct their own policy experiments. Dr. Erich Zahn, Professor of Strategic Management, Betriebswirtschaftliches Institut, University of Stuttgart A website to accompany the book can be found at www.wiley.com/college/morecroft housing supplementary material for both students and lecturers.
