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Uchonye zapiski po statistike (Learned Writings on Statistics)
Manufacturers' Inventories, Sales Expectations, and the Acceleration Principle
The response of manufacturers' inventory holdings to changes in the volume of sales and the backlog of unfilled orders is examined on a quarterly basis for the period 1948-55 within a buffer-stock flexible accelerator framework. The hypothesis that manufacturers successfully hedge against increases in the price of purchased materials, enlarging their stocks in advance of actual price increases, is rejected. By introducing explicitly the impact of prediction errors it is possible to infer that manufacturers tend to underestimate actual changes in sales volume, but by a surprisingly small amount. An analysis of discrepancies between desired and actual inventory holdings reveals that manufacturers tolerated sizable deficiencies in stocks throughout the Korean conflict.
Methods of Correlation and Regression Analysis, Linear and Curvilinear
Best Linear and Best Linear Unbiased Index Numbers
On the Cost of Approximate Specification in Simultaneous Equation Estimation
The Covariance Matrices of Reduced-Form Coefficients and of Forecasts for a Structural Econometric Model
A. S. Goldberger, A. L. Nagar, H. S. Odeh, The Covariance Matrices of Reduced-Form Coefficients and of Forecasts for a Structural Econometric Model, Econometrica, Vol. 29, No. 4 (Oct., 1961), pp. 556-573