In this paper we examine two different measures of monthly production that have been used by economists. The first measure, which we refer to as IP, is the index of industrial production constructed by the Board of Governors of the Federal Reserve. This measure is used extensively in empirical...

In recent years there has been a resurgence of interest in the empirical behavior of inventories. A great deal of this research examines some variant of the production smoothing model of finished goods inventories. The overall assessment of this model that exists in the literature is quite...

In recent years there has been a resurgence of interest in the empirical behavior of inventories. A great deal of this research examines some variant of the production smoothing model of finished goods inventories. The overall assessment of this model that exists in the literature is quite...