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| Author: | Berends, P. A. J. Romme, A. G. L. |
| Title: | Cyclicality of capital-intensive industries: a system dynamics simulation study of the paper industry |
| Journal: | Omega
2001 : DEC, VOL. 29:6, p. 543-552 |
| Index terms: | INDUSTRIES SIMULATION PAPER AND PULP INDUSTRY |
| Language: | eng |
| Abstract: | This paper provides a view on the cyclically of capital- intense industries that could add considerably to the authors' understanding of how cycles in prices, profits and capacity come about. Previous studies of business cycles focus on macro-economic systems or on the agricultural sector. Causes for fluctuations arc typically believed to be mainly exogenous in nature. The authors seek to extend the existing literature on industrial cycles by developing a model that incorporates endogenously generated cyclicality. A simulation model of the paper industry is developed and validated on the basis of data for the US paper industry. |
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