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Retail Food Store Inventory Behavior

  • Miller, Stephen E.
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    A stock-adjustment model is applied to monthly retail food store inventory data from 1968 through 1988. Estimates of the speed-of-adjustment coefficient (.34 to .75) are higher than estimates from previous research, indicating that periods of inventory disequilibrium in food retailing are short-lived. The results indicate that inventories are insensitive to financial carrying costs. The hypothesis that parameters of the model are constant over the sample period cannot be rejected, indicating that changes in food retailing (e.g., electronic scanning and diversification of product mixes) have not affected inventory behavior.

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    File URL: http://purl.umn.edu/32491
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    Article provided by Western Agricultural Economics Association in its journal Western Journal of Agricultural Economics.

    Volume (Year): 15 (1990)
    Issue (Month): 01 (July)
    Pages:

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    Handle: RePEc:ags:wjagec:32491
    Contact details of provider: Web page: http://waeaonline.org/

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    1. Farley, John U. & Hinich, Melvin & McGuire, Timothy W., 1975. "Some comparisons of tests for a shift in the slopes of a multivariate linear time series model," Journal of Econometrics, Elsevier, vol. 3(3), pages 297-318, August.
    2. Trivedi, P. K., 1973. "Retail inventory investment behaviour," Journal of Econometrics, Elsevier, vol. 1(1), pages 61-80, March.
    3. Jeffrey A. Miron & Stephen P. Zeldes, . "Seasonality, Cost Shocks and the Production Smoothing Model of Inventories," Rodney L. White Center for Financial Research Working Papers 1-87, Wharton School Rodney L. White Center for Financial Research.
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