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| Author: | Fisher, J. Hornstein, A. |
| Title: | (S, s) Inventory policies in general equilibrium |
| Journal: | Review of Economic Studies
2000 : JAN, VOL. 67:230, p. 117-146 |
| Index terms: | INVENTORIES POLICY EQUILIBRIUM THEORY |
| Language: | eng |
| Abstract: | The authors study the aggregate implications of (S,s) inventory policies in a dynamic general equilibrium model with aggregate uncertainty. Firms in the model' retail sector face idiosyncratic demand risk, and (S,s) inventory policies are optimal because of fixed order costs. The distribution of inventory holdings affects the aggregate outcome in two ways: variation in the decision to order and variation in the rate of sale through the pricing decisions of retailers. |
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