search query: @author Allen, D. S. / total: 2
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| Author: | Allen, D. S. |
| Title: | A multi-sector inventory model |
| Journal: | Journal of Economic Behavior and Organization
1997 : JAN, VOL. 32:1, p. 55-87 |
| Index terms: | INVENTORIES INVESTMENT PRODUCTION BUSINESS CYCLES |
| Language: | eng |
| Abstract: | This study addresses two stylized facts that concern inventory: correlation between sales and inventory is positive, and production varies more than sales. The simulation results show the potential for distortion of summary statistics when heterogeneous agents interact: three types of distortions were identified. The findings suggests that the production smoothing alternative should not be abandoned and that a disaggregated model reflecting heterogeneous rules would be appropriate to model inventory investment dynamics. |
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