The production-smoothing model is alive and well

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The Production-smoothing Model Is Alive and Well

Monthly data in physical units for seven industries are used to examine the production-smwthing hypothesis. The results strongly support this hypothesis. Significant effects of expected future sales on current production are found for four industries. and the estimated decision equations for all seven industries imply production-smoothing behavior. The previous negative results appear to be due...

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ژورنال

عنوان ژورنال: Journal of Monetary Economics

سال: 1989

ISSN: 0304-3932

DOI: 10.1016/0304-3932(89)90026-3