Showing 1 - 10 of 4,087
The paper develops a simple theoretical model of inventory control in global supply chains. It identifies a role for … intermediaries in managing inventory, and shows that inserting an intermediary as an additional link in a supply chain is profitable … when demand volatility is high. It also provides conditions under which the intermediary handling inventory is located in …
Persistent link: https://www.econbiz.de/10010496944
The paper shows that taking inventory control out of the hands of competitive or exclusive retailers and assigning it … because doing so solves incentive distortions that arise when retailers have to allocate inventory across sales periods, and … thus allows for better intertemporal price discrimination. Assigning inventory control to a manufacturer is also shown to …
Persistent link: https://www.econbiz.de/10011742575
We develop a dynamic model of inventory investment and trade to examine how firms adjust to changes in international … are shown to significantly reduce both the inventory-sales and the import-sales ratios, as the firm adjusts its stockout …
Persistent link: https://www.econbiz.de/10013536154
shipments. In our inventory model, transportation costs and optimal shipment frequency are determined on the basis of demand as … well as inventory and per shipments costs. Using a cross section of monthly firm-product-destination level French export …
Persistent link: https://www.econbiz.de/10010338670
We study the effects of news shocks on inventory accumulation in a structural VAR framework. We establish that … inventories react strongly and positively to news about future increases in total factor productivity. Theory suggests that the …
Persistent link: https://www.econbiz.de/10012119865
The focus is upon equilibrium real exchange rates, optimal external debt and their interaction, in a world where both the return on investment and the real rate of interest are stochastic variables. These theoretically based measures are applied empirically to answer the following questions:...
Persistent link: https://www.econbiz.de/10002524134
We analyze optimal harvesting policy under stochastic price and stock dynamics. We state a set of weak conditions under which the optimal policy can be characterized by a single exercise threshold and show that the value of optimal harvesting and depletion policies can be expressed as the...
Persistent link: https://www.econbiz.de/10002576586
Standard explanations for the income heterogeneity within neighborhoods rely on differences of preferences across households and heterogeneity of the housing stock. We propose an alternative and complementary explanation. We construct a stochastic equilibrium sorting model where (1) income is...
Persistent link: https://www.econbiz.de/10002855750
This paper introduces a new modelling approach that incorporates nonlinear, exponential deterministic terms into a fractional integration model. The proposed model is based on a specific version of Robinson's (1994) tests and is more general that standard time series models, which only allow for...
Persistent link: https://www.econbiz.de/10014431268
Properties of dynamic stochastic general equilibrium models can be revealed by either using numerical solutions or qualitative analysis. Very precise and intuition-building results are obtained by working with models which provide closed-form solutions. Closed-form solutions are known for a...
Persistent link: https://www.econbiz.de/10003897386