Input and Output Inventories

Brad Humphreys, Louis John Maccini () and Scott Schuh

Economics Working Paper Archive from The Johns Hopkins University,Department of Economics

Abstract: This paper presents a new stage-of-fabrication inventory model with ordering usage and stocking of input materials under gross production or value added technology The model extends the traditional linear-quadratic model of output (finished goods) inventories and yields joint decision rules for input and output inventories with extensive dynamic stage-of-fabrication linkages Data show that input inventories are more important than output inventories in business cycle fluctuations Maximum likelihood estimation is relatively successful for a structural inventory model in nondurable and durable good industries The results include evidence of convex costs input-inventory-saving technology and insensitivity to production technology specification

Date: 1997-09
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Related works:
Working Paper: Input and Output Inventories (2000)
Working Paper: Input and output inventories (1997)
Journal Article: Input and output inventories (2001)
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Persistent link: http://EconPapers.repec.org/RePEc:jhu:papers:391

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