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Creator: Bryant, John B. Series: Working paper (Federal Reserve Bank of Minneapolis. Research Department) Number: 110 Parola chiave: Demand uncertainty, Market price, Perfect competitors, and Inventory Soggetto: D42 - Market Structure, Pricing, and Design: Monopoly and D41 - Market Structure, Pricing, and Design: Perfect Competition
Creator: Christiano, Lawrence J. Series: Working paper (Federal Reserve Bank of Minneapolis. Research Department) Number: 339 Parola chiave: Fluctuations, Investment, Inventory investments, and Inventory Soggetto: G31 - Capital Budgeting; Fixed Investment and Inventory Studies; Capacity and E32 - Business Fluctuations; Cycles
Creator: Kollintzas, Tryphon, 1953- Series: Working paper (Federal Reserve Bank of Minneapolis. Research Department) Number: 352 Abstract:
This paper derives a variance bounds test for a broad class of linear rational expectations models. According to this test if observed data accords with the model, then a weighted sum of autocovariances of the covariance-stationary components of the endogenous state variables should be nonnegative. The new test reinterprets its forefather—West's  variance bounds test— and extends its applicability by not requiring exogenous state variables in order to be tested. The possibility of the test's application to nonlinear models is also discussed.
Parola chiave: Overlapping generations models, Inventory, and Macroeconomics Soggetto: C52 - Model Evaluation, Validation, and Selection and E22 - Investment; Capital; Intangible Capital; Capacity