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Consumer Inventory and Demand for Storable Goods: New Evidence from a Consumer Survey

Author

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  • Kazuko Kano

Abstract

In this study, I provide new evidence on consumer inventory from a unique survey on the purchase and inventory of a storable product. I confirm that the predictions regarding the correlations between the key variables of purchase probability, purchase quantity and inventory derived from the standard dynamic models of consumer inventory are consistent with the data. Furthermore, I find that the amount of daily consumption varies within a household across time and depends on inventory holding. The evidence does not conform to a constant consumption rate, which studies often assume for tractability.

Suggested Citation

  • Kazuko Kano, 2018. "Consumer Inventory and Demand for Storable Goods: New Evidence from a Consumer Survey," The Japanese Economic Review, Japanese Economic Association, vol. 69(3), pages 284-305, September.
    • Handle: RePEc:bla:jecrev:v:69:y:2018:i:3:p:284-305
    DOI: 10.1111/jere.12191
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    Cited by:

    1. Tsutomu Watanabe & Tomoyoshi Yabu, 2023. "The demand for money at the zero interest rate bound," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 38(6), pages 968-976, September.
    2. Kozo Ueda & Kota Watanabe & Tsutomu Watanabe, 2020. "Consumer Inventory and the Cost of Living Index: Theory and Some Evidence from Japan," CARF F-Series CARF-F-491, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
    3. repec:upd:utmpwp:025 is not listed on IDEAS
    4. Kozo Ueda & Kota Watanabe & Tsutomu Watanabe, 2024. "Household Inventory, Temporary Sales, Price Indices," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 65(1), pages 217-251, February.
    5. repec:upd:utmpwp:033 is not listed on IDEAS
    6. Shunya Noda & Kazuhiro Teramoto, 2024. "A dynamic model of rational “panic buying”," Quantitative Economics, Econometric Society, vol. 15(2), pages 489-521, May.

    More about this item

    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing

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