Modelling the behaviour of U.S. inventories : a cointegration-Euler approach / by Iris Claus. : FB3-2/97-19E-PDF
In this paper, the relative importance of the disequilibrium costs to adjustment costs of inventories is evaluated. An estimate of the rate of inventory adjustment towards its long-run equilibrium level is provided in the United States by means of a linear-quadratic model with integrated processes. A limited-information approach allows the time-series properties of the data to be exploited and consistent estimates of the structural parameters of the Euler equation obtained.--Abstract
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| Department/Agency | Bank of Canada. |
|---|---|
| Title | Modelling the behaviour of U.S. inventories : a cointegration-Euler approach / by Iris Claus. |
| Series title | Bank of Canada working paper1701-939797-19 |
| Publication type | Series - View Master Record |
| Language | [English] |
| Format | Electronic |
| Electronic document | |
| Other formats | Paper-[English] |
| Note(s) | "In this paper, the relative importance of the disequilibrium costs to adjustment costs of inventories is evaluated. An estimate of the rate of inventory adjustment towards its long-run equilibrium level is provided in the United States by means of a linear-quadratic model with integrated processes. A limited-information approach allows the time-series properties of the data to be exploited and consistent estimates of the structural parameters of the Euler equation obtained."--Abstract. The ISBN (0-662-26340-5) and ISSN (1192-5434) for the print edition have been incorrectly copied in this electronic publication. Bibliography. Résumé en français. |
| Publishing information | Ottawa - Ontario : Bank of Canada November 1997. |
| Description | 33p.graphs, tables |
| ISSN | 1701-9397 |
| Catalogue number |
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