A Model of Inventory and Layoff Behavior Under Uncertainty
AbstractThis paper develops a model of firm behavior under uncertainty designed to study the interac tion of inventories and layoffs. The model is a blend of a buffer sto ck model of inventory behavior and an implicit contract model of layo ffs. The model creates a distinction between inventory-biased and lay off-biased firms, each of which exhibits inherently different pattern s of response of inventories and temporary layoffs to demand shocks. In addition, the model implies that the inventory-layoff interaction tends to strengthen (weaken) the response of price and the work force to changes in anticipated demand (real interest rates). Copyright 1988 by Royal Economic Society.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by UCLA Department of Economics in its series UCLA Economics Working Papers with number 321.
Date of creation: 01 Jan 1984
Date of revision:
Contact details of provider:
Web page: http://www.econ.ucla.edu/
Other versions of this item:
- Haltiwanger, John C & Maccini, Louis J, 1988. "A Model of Inventory and Layoff Behaviour under Uncertainty," Economic Journal, Royal Economic Society, vol. 98(392), pages 731-45, September.
- NEP-ALL-2001-06-08 (All new papers)
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Blinder, Alan S & Maccini, Louis J, 1991.
" The Resurgence of Inventory Research: What Have We Learned?,"
Journal of Economic Surveys,
Wiley Blackwell, vol. 5(4), pages 291-328.
- Alan S. Blinder & Louis J. Maccini, 1990. "The Resurgence of Inventory Research: What Have We Learned?," NBER Working Papers 3408, National Bureau of Economic Research, Inc.
- Lucía Barcos & Alicia Barroso & Jordi Surroca & Josep A. Tribó, 2010.
"Corporate social responsibility and inventory policy,"
Business Economics Working Papers
id-10-03, Universidad Carlos III, Instituto sobre Desarrollo Empresarial "Carmen Vidal Ballester".
- Barcos, Lucía & Barroso, Alicia & Surroca, Jordi & Tribó, Josep A., 2013. "Corporate social responsibility and inventory policy," International Journal of Production Economics, Elsevier, vol. 143(2), pages 580-588.
- Michael R. Darby & John Haltiwanger & Mark Plant, 1984.
"Unemployment-Rate Dynamics and Persistent Unemployment Under RAtional Expectations,"
UCLA Economics Working Papers
339, UCLA Department of Economics.
- Darby, Michael R & Haltiwanger, John C & Plant, Mark W, 1985. "Unemployment Rate Dynamics and Persistent Unemployment under Rational Expectations," American Economic Review, American Economic Association, vol. 75(4), pages 614-37, September.
- Michael R. Darby & John C. Haltiwanger & Mark W. Plant, 1985. "Unemployment-Rate Dynamics and Persistent Unemployment Under Rational Expectations," NBER Working Papers 1558, National Bureau of Economic Research, Inc.
- Yi Wen, 2009.
"Input and output inventory dynamics,"
2008-008, Federal Reserve Bank of St. Louis.
- Adam Copeland & George Hall, 2006.
"The Response of Prices, Sales, and Output to Temporary Changes in Demand,"
2006 Meeting Papers
39, Society for Economic Dynamics.
- Adam Copeland & George Hall, 2011. "The response of prices, sales, and output to temporary changes in demand," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 26(2), pages 232-269, March.
- Adam Copeland & George Hall, 2005. "The Response of Prices, Sales, and Output to Temporary Changes in Demand," Cowles Foundation Discussion Papers 1543, Cowles Foundation for Research in Economics, Yale University.
- Adam Copeland & George Hall, 2005. "The Response of Prices, Sales, and Output to Temporary Changes in Demand," NBER Working Papers 11870, National Bureau of Economic Research, Inc.
- Yi Wen, 2008. "Inventories, liquidity, and the macroeconomy," Working Papers 2008-045, Federal Reserve Bank of St. Louis.
- Alan S. Blinder & Louis J. Maccini, 1991. "Taking Stock: A Critical Assessment of Recent Research on Inventories," Journal of Economic Perspectives, American Economic Association, vol. 5(1), pages 73-96, Winter.
- Charles A. Fleischman, 1996. "The endogeneity of employment adjustment costs: the tradeoff between efficiency and flexibility," Finance and Economics Discussion Series 1996-48, Board of Governors of the Federal Reserve System (U.S.).
- John Haltiwanger, 1985. "Inventories, Multiperiod Implicit Contracts, and the Dynamic Behavior if the Firm Under Uncertainty," UCLA Economics Working Papers 374, UCLA Department of Economics.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Tim Kwok).
If references are entirely missing, you can add them using this form.