Production and inventory control at the General Motors Corporation during the 1920s and 1930s
AbstractThis paper analyzes dynamics of production and inventories at the General Motors Corporation during the 1920s and 1930s. The authors begin by examining anecdotal evidence on the nature of the production control system in force during that period. Motivated by that evidence, they then extend the conventional linear-quadratic model of production behavior to take account of annual shutdown. Finally, the authors apply the modified model to newly available data on monthly unit production, sales, and inventories during 1924-40. General Motors appears to have been aiming to maintain a targeted level of inventory relative to expected sales and, secondarily, to smooth production. Copyright 1993 by American Economic Association.
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Bibliographic InfoPaper provided by Board of Governors of the Federal Reserve System (U.S.) in its series Finance and Economics Discussion Series with number 135.
Date of creation: 1990
Date of revision:
Other versions of this item:
- Kashyap, Anil K & Wilcox, David W, 1993. "Production and Inventory Control at the General Motors Corporation during the 1920's and 1930's," American Economic Review, American Economic Association, vol. 83(3), pages 383-401, June.
- Anil K. Kashyap & David W. Wilcox, 1992. "Production and inventory control at the General Motors Corporation during the 1920s and 1930s," Working Paper Series, Macroeconomic Issues 92-10, Federal Reserve Bank of Chicago.
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Blog mentionsAs found by EconAcademics.org, the blog aggregator for Economics research:
- Henry Ford, Innovation, and That "Faster Horse" Quote
by Patrick Vlaskovits in HBR Blog Network on 2011-08-29 16:52:31
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"Estimating the linear-quadratic inventory model: maximum likelihood versus generalized method of moments,"
Finance and Economics Discussion Series
93-11, Board of Governors of the Federal Reserve System (U.S.).
- Fuhrer, Jeffrey C. & Moore, George R. & Schuh, Scott D., 1995. "Estimating the linear-quadratic inventory model Maximum likelihood versus generalized method of moments," Journal of Monetary Economics, Elsevier, vol. 35(1), pages 115-157, February.
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- Barber, Brad M. & Click, Reid W. & Darrough, Masako N., 1999. "The impact of shocks to exchange rates and oil prices on U.S. sales of American and Japanese automakers," Japan and the World Economy, Elsevier, vol. 11(1), pages 57-93, January.
- Yang, Xiaolou, 2011. "Trade credit versus bank credit: Evidence from corporate inventory financing," The Quarterly Review of Economics and Finance, Elsevier, vol. 51(4), pages 419-434.
- Mollick, Andre Varella, 2004. "Production smoothing in the Japanese vehicle industry," International Journal of Production Economics, Elsevier, vol. 91(1), pages 63-74, September.
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