second is that inventory movements are quite persistent, even conditional on sales. To consider explanations for the two …, or some third, alternative provides a satisfactory explanation of inventory behavior. We suggest several directions for … future research that promise to improve our understanding of inventory behavior and thus of business cycles …

Econometric aspects of recent research on inventory models are surveyed. The discussion emphasizes issues relevant to … instrumental variables estimation of a first order condition of the Holt et al. (1960) linear quadratic inventory model, including … paper also briefly discusses estimation of a decision rule implied by the model, and, finally, the impliations for inventory …

This paper has two purposes. One is to assess different models of inventory behavior in terms of their ability to well … inventory movements. We find that the basic production level smoothing model of inventories, augmented by buffer stock motives … inventory data …

optimal response of inventory-holding firms rather than ad hoc price dynamics …