Observation errors and inventory cycles

Michael Reiter

doi:10.1016/0925-5273(92)90051-8

Observation errors and inventory cycles

Michael Reiter

Economics

Research output: Contribution to journal › Article › peer-review

Abstract

This paper presents a very small macroeconomic model which can explain the stylized facts concerning the cyclical properties of fixed and inventory investment, and applies it to detrented data of Germany, USA and UK. The model is formulated in continuous time. Its central conceptual tool is the Second Order Accelerator of investment and production. The new aspect of this paper is that the stochastic formulation of the inventory equation incorporates errors in the variables as well as errors in the equations.

Original language	English (US)
Pages (from-to)	99-105
Number of pages	7
Journal	International Journal of Production Economics
Volume	26
Issue number	1-3
DOIs	https://doi.org/10.1016/0925-5273(92)90051-8
State	Published - Feb 1992

ASJC Scopus subject areas

Business, Management and Accounting(all)
Economics and Econometrics
Management Science and Operations Research
Industrial and Manufacturing Engineering

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10.1016/0925-5273(92)90051-8

Cite this

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abstract = "This paper presents a very small macroeconomic model which can explain the stylized facts concerning the cyclical properties of fixed and inventory investment, and applies it to detrented data of Germany, USA and UK. The model is formulated in continuous time. Its central conceptual tool is the Second Order Accelerator of investment and production. The new aspect of this paper is that the stochastic formulation of the inventory equation incorporates errors in the variables as well as errors in the equations.",

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Observation errors and inventory cycles

Abstract

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