Empirical Work on Unsettled Issues of Inventory Research

清单研究未解决问题的实证研究

• 批准号: 9312239
• 负责人: Louis Maccini
• 金额: $ 6.48万
• 依托单位: Johns Hopkins University
• 依托单位国家: 美国
• 项目类别: Standard Grant
• 财政年份: 1993
• 资助国家: 美国
• 起止时间: 1993-11-15 至 1995-10-31
• 项目状态: 已结题
• 来源: https://www.nsf.gov/awardsearch/showAward?AWD_ID=9312239&HistoricalAwards=false
• 关键词: Empirical; Work; Unsettled; Issues; Inventory

9312239 Maccini Inventory fluctuations are an important feature of business cycles. Yet inventory research is in a very unsettled state. This research will focus on two important unsettled issues. One is whether cost shocks in the form of significant price increases of important inputs in the production process together with the need to hold buffer stocks can explain inventory and production movements. Existing work has concentrated on a small set of manufacturing industries and solely on finished goods inventories. This research focuses on examining production to order as well as production to stock and investigates the interaction of order backlogs and inventories. Further, it will examine the interaction of movements in inventories of materials and supplies with those of finished goods. The second issue to be analyzed is how do credit market conditions influence inventory movements. This is critical for understanding how monetary policy affects the economy. The research focuses on whether borrowing constraints brought about by imperfections in the credit markets causes certain firms to have limited access to credit which in turn influences their pattern of inventory holding behavior. A data base for individual firms which combines data on financial condition with that on inventories and sales will also be constructed and used. ***

9312239马奇尼库存波动是经济周期的一个重要特征。然而，库存研究还处于一个非常不稳定的状态。本研究将集中于两个重要的尚未解决的问题。一个问题是，以生产过程中重要投入的价格大幅上涨为形式的成本冲击，以及持有缓冲库存的需要，是否可以解释库存和生产变动。现有的工作集中在少数几个制造业，而且完全集中在成品库存上。本研究的重点是检查生产到订单以及生产到库存，并调查订单积压和库存的相互作用。此外，它还将审查材料和供应品的库存变动与成品库存变动之间的相互作用。第二个要分析的问题是信贷市场状况如何影响库存变动。这对于理解货币政策如何影响经济至关重要。研究的重点是信贷市场不完善带来的借贷约束是否会导致某些企业获得信贷的机会有限，进而影响其库存持有行为模式。还将为个别公司建立和使用一个数据库，将财务状况数据与库存和销售数据结合起来。＊＊＊