English, Article edition: Inventories and the Business Cycle: Testing a Sequential Trading Model Benjamin Eden

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Physical Description
  • article
Language
  • English

Edition details

Title
  • Inventories and the Business Cycle: Testing a Sequential Trading Model
Author
  • Benjamin Eden
Physical Description
  • article
Notes
  • The uncertain and sequential trading (UST) model of inventories behavior with iid shocks predicts that (a) the beginning of period inventories is a sufficient statistic for past variables and (b) an increase in the beginning of period inventories reduces output, employment, hours per employee, and effort. I find empirical support for the second hypothesis but not for the first. The rejection of the first hypothesis is rather informative and points in the direction of adjustment costs and/​or serially correlated shocks. (Copyright: Elsevier)
  • inventories; business cycle
  • RePEc:red:issued:v:4:y:2001:i:3:p:562-574
Language
  • English
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