Modelling the behaviour of U.S. inventories : a Cointegration-Euler approach / by Iris Claus. : FB3-2/97-19E
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 | Working paper1192-543497-19 |
| Publication type | Series - View Master Record |
| Language | [English] |
| Format | Paper |
| Other formats | Electronic-[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. Résumés en français |
| Publishing information | Ottawa - Ontario : Bank of Canada 1997. |
| Binding | Softcover |
| Description | 24p. : graphs, references, tables ; 28 cm. |
| ISBN | 0-662-26340-5 |
| ISSN | 1192-5434 |
| Catalogue number |
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