Disequilibrium Buffer Stock Models: A Survey
This survey evaluates the recent upsurge in buffer stock models. The paper describes the ideas common to most buffer stock models and divides them into four types depending on the assumptions made, and the equilibrium concept used. The main empirical implications are given in terms of the implied short-run adjustment of variables and how this relates to the transmission mechanism. The conclusion is that whilst the disequilibrium inherent in the buffer stock approach is plausible, it has yet to be demonstrated that it is empirically valid or how to correctly test for its presence.
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
|Date of creation:||1988|
|Date of revision:|
|Contact details of provider:|| Postal: Kingston, Ontario, K7L 3N6|
Phone: (613) 533-2250
Fax: (613) 533-6668
Web page: http://qed.econ.queensu.ca/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:qed:wpaper:715. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Mark Babcock)
If references are entirely missing, you can add them using this form.