search query: @author McIntosh, J. / total: 3
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| Author: | McIntosh, J. |
| Title: | Price and output adjustment in a model with inventories: econometric evidence from categorical survey data |
| Journal: | Review of Economics and Statistics
1993 : NOV, VOL. 75:4, p. 657-663 |
| Index terms: | PRICES ECONOMETRICS INVENTORIES |
| Language: | eng |
| Abstract: | In this paper the authors investigate the role of inventories in the adjustment process of prices and output in response to demand and cost shocks, using the qualitative information contained in business surveys of U.K. firms. The discussion is organized around a model based on the assumption of monopolistic competition and which permits a production smoothing role for inventories. The econometric results suggest that the stock of inventories has no impact on output decisions. |
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