The Rational Expectations Equilibrium Inventory Model
Language: English
Published by Springer, Springer Feb 1989, 1989
- Softcover
- New
Seller: BuchWeltWeit Ludwig Meier e.K., Bergisch Gladbach, GermanyBuchWeltWeit Ludwig Meier e.K.
AbeBooks seller since January 11, 2012
Condition: New
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Add to basketItem description from seller
This item is printed on demand - it takes 3-4 days longer - Neuware -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. 292 pp. Englisch.…
Seller Inventory # 9780387969404
- Title
- The Rational Expectations Equilibrium Inventory Model
- Author
- Tryphon Kollintzas
- Publisher
- Springer, Springer Feb 1989
- Publication year
- 1989
- Condition
- Neu
- Binding
- Taschenbuch
- Language
- English
- ISBN 10
- 0387969403
- ISBN 13
- 9780387969404
- Item weight
- 508 grams
- Dimensions
- 244x170x16 mm
"Synopsis" may belong to another edition of this title.
BuchWeltWeit Ludwig Meier e.K.
Bergisch Gladbach, Germany
AbeBooks seller since January 11, 2012
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