Name: the rational expectations equilibrium inventory model: theory and applications (en Inglés)
SKU: 18829816
Price: 1031.87 MXN
Availability: InStock
Author: Kollintzas, Tryphon
ISBN: 9780387969404

portada the rational expectations equilibrium inventory model: theory and applications (en Inglés)

the rational expectations equilibrium inventory model: theory and applications (en Inglés)

Formato

Libro Físico

Ilustrado por

Tryphon Kollintzas

Editorial

Springer

Autor

Kollintzas, Tryphon

Año

1989

Idioma

Inglés

N° páginas

269

Encuadernación

Tapa Blanda

Dimensiones

24.4x17x1.5 cm

Peso

0.47 kg.

ISBN

0387969403

ISBN13

9780387969404

Categorías

Teoría y filosofía económicas
Programación lineal
Matemáticas aplicadas

the rational expectations equilibrium inventory model: theory and applications (en Inglés)

Tryphon Kollintzas (Ilustrado por) · Springer · Tapa Blanda

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Reseña del libro "the rational expectations equilibrium inventory model: theory and applications (en Inglés)"

This volume consists of six essays that develop and/or apply "rational expectations equilibrium inventory models" to study the time series behavior of production, sales, prices, and inventories at the industry level. By "rational expectations equilibrium inventory model" I mean the extension of the inventory model of Holt, Modigliani, Muth, and Simon (1960) to account for: (i) discounting, (ii) infinite horizon planning, (iii) observed and unobserved by the "econometrician" stochastic shocks in the production, factor adjustment, storage, and backorders management processes of firms, as well as in the demand they face for their products; and (iv) rational expectations. As is well known according to the Holt et al. model firms hold inventories in order to: (a) smooth production, (b) smooth production changes, and (c) avoid stockouts. Following the work of Zabel (1972), Maccini (1976), Reagan (1982), and Reagan and Weitzman (1982), Blinder (1982) laid the foundations of the rational expectations equilibrium inventory model. To the three reasons for holding inventories in the model of Holt et al. was added (d) optimal pricing. Moreover, the popular "accelerator" or "partial adjustment" inventory behavior equation of Lovell (1961) received its microfoundations and thus overcame the "Lucas critique of econometric modelling.