Manufacturing Stocks and Forward-Looking Expectations in the UK
Bibliographic Data
| ID | 9724335 |
|---|---|
| Authors | Stephen G Hall (0000-0001-7976-4086), S G B Henry, S Wren-Lewis, Simon Wren‐Lewis |
| Year | 1986 |
| Volume | 53 |
| Issue | 212 |
| Pages | 447 |
| Publication date | 1986-11-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Economica (JOURNAL) |
| Journal identifiers | ISSN: 0013-0427 • E-ISSN: 1468-0335 |
| Publisher | JSTOR (PUBLISHER) |
| DOI | 10.2307/2554096 |
| OpenAlex | W2000535732 |
| Language | EN |
| Citations received | 7 |
| References cited | 4 |
This paper derives a model of the stocks plan based on optimal behavior by the firm when facing adjustment costs with forward-looking expectations formation. Estimates of the model are reported for manufacturing, using three alternative expectations mechanisms for determining expected sales: time series; published forecasts (derived from National Institute published forecasts); and rational expectations. The latter uses a submodel dependent on weakly exogenous variables. Single equation and whole model comparisons are made of the stocks equation estimated with forward expectations versus a traditional backward-looking model. These favor the forward-looking model
Econometrics · Economics · Financial economics · Rational expectations · Economic Growth and Productivity · Economic theories and models · Monetary Policy and Economic Impact
Forward Looking Price Setting in UK Manufacturing
The Determinants of Manufacturing Inventories in the UK
Manufacturing Stocks
Macroeconomics and a Bit More Reality
Macroeconomic Policy Design and Control Theory--A Failed Partnership
Fiscal Policy and Aggregate Consumption
Input and Output Inventories in the UK
| Unique citing works | 7 |
|---|---|
| Citations per year | 0,17 |
| Citation span | 1985 - 2011 (27) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 2 |