An empirical study of the interrelationship between employment, price and inventory decisions in UK manufacturing

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dc.contributor.authorDolado, Juan J.
dc.date.accessioned2023-06-21T01:31:22Z
dc.date.available2023-06-21T01:31:22Z
dc.date.issued1988
dc.description.abstractThis papel investigates the dynamic behaviour al employment, prices and inventories of finished goods when non-competitivo firms take joint decision rules based upon the optimisation of a certain intertemporal criterion function. A theoretical model is developed to provide the specification of the Euler equations which characterize the previous optimal solutions. These are jointly estimated using data from tha manufacturing sector in the U.K., providing favourable evidence for the model.
dc.description.departmentDecanato
dc.description.facultyFac. de Ciencias Económicas y Empresariales
dc.description.refereedTRUE
dc.description.statuspub
dc.eprint.idhttps://eprints.ucm.es/id/eprint/23035
dc.identifier.issn2255-5471
dc.identifier.relatedurlhttps://economicasyempresariales.ucm.es/working-papers-ccee
dc.identifier.urihttps://hdl.handle.net/20.500.14352/63870
dc.issue.number02
dc.language.isoeng
dc.page.total27
dc.publication.placeMadrid
dc.publisherFacultad de Ciencias Económicas y Empresariales. Decanato
dc.relation.ispartofseriesDocumentos de Trabajo de la Facultad de Ciencias Económicas y Empresariales
dc.rightsAtribución-NoComercial-CompartirIgual 3.0 España
dc.rights.accessRightsopen access
dc.rights.urihttps://creativecommons.org/licenses/by-nc-sa/3.0/es/
dc.subject.keywordEmployment
dc.subject.keywordPrice
dc.subject.keywordUK manufacturing
dc.subject.ucmTrabajo
dc.subject.ucmEconomía industrial
dc.titleAn empirical study of the interrelationship between employment, price and inventory decisions in UK manufacturing
dc.typetechnical report
dc.volume.number1988
dcterms.referencesBean, c., Layard. R. and Nickel, S. (1986): "The Rise in Unemployment: A Multicountry Study", Economica 53 (Special Issue on Unemployment). Bils, M. (1985) "Real Wages over the Business Cycle: Evidence from Panel Data", Journal of Political Economy 93. Blanchard, O. (1983) "The Production and Inventory Behaviours of the American Automobile Industry" Journal of Political Economy 91. Blanchard, O. and Melino, A. (1986) "Cyclical Behaviour of Prices and Quantities in the Automobile Market" Journal of Monetary Economics. Bruno, M. (1919) "Output and Price Adjustment: Microfundations and Aggregation" Journal of Monetary Economics 5. Burgess, S. (1986) "Employment Adjustment in U.K Manufacturing", Applied Economics Discussion Paper No. 16. Institute of Economics and Statistics. University of Oxford. Burgess, S. and Dolado, J. (1981) "Intertemporal Rules with Variable Speed of Adjustment: An Application to U.K. Manufacturing Employment", Applied Economics Discussion Paper No. 32. Institute of Economics and Statistics. University of Oxford. Dickey, D. and Fuller, W. (1979) "Distribution of the Estimators for Autoregressive Time Series with a Unit Root". Journal of the American Statistical Association 14. Dolado, J. (1987) "Intertemporal Employment and Pricing Decision Rules in U.K. Manufacturing", Discussion Paper No. l8. Institute of Economics and Statistics. University of Oxford (submitted to the Review of Economic Studies). Domberger, P. (1919) "Price Adjustment and Market Structure", Economic Journal 89. Engle, R. and Granger, C. (1987) "Cointegration and Error Correction Representation: Estimation and Testing", Econometrica 55. Faini, R. and Schiantarelli, F. (1984), "A Unified Framework for Firm's Decision Theoretical Analysis and Empirical Application to Italy (1970-1980)", Reserches Economiques de Louvain 50. Fuller, W. (1976) "Introduction to Statistical Time Series", John Wiley & Sons. New York. Hall, S., Henry, S. and Wren-Lewis, S. (1987) "Employment and Stockbuilding: Some Empirical Results of a Joint Model", NIESR Discussion Paper No. 99. Hansen, L. and Sargent, T. (1982) "Instrumental Variables Procedures for Estimating Linear Rational Expectations Models", Journal of Monetary Economics 9. Layard, R. and Nickell, S. (1985) "Unemployment, Real Wages and Aggregate Demand in Europe, Japan and the U.S.". Journal of Monetary Economics (Supplement: Carnegie-Rochester Public Conference No. 23). Layard, R. and Nickell, S. (1986) "Unemployment in Britain". Economica 53. (Special Issue on Unemployment). Maccini, L. (1984): "The Interrelationship betwee Price and Output Decisions and Investment Decisions: Microfundations and Aggregate Implications". Journal of Monetary Economics 9. Mendis, L. and Muellbauer, J. (1984) "British Manufacturing Productivity 1955-1983: Measurement Problems. Oil Shocks and Thatcher Effeets" CEPR Discussion Paper No. 32. Muellbauer, J. (1984) "Employment, Utilization and Surprises" Nuffield College (mimeo). Nickell, S. (1984) "An Investigation of the Determinants of Manufacturing Employment in the U.K". Review of Economic Studies 51. NicKell, S. (1987) "Dynamic Models of Labour Demand" in Handbook of Labour Economics, eds. O. Ashenfelter and R. Layard. North Holland. Phillips, P. and Durlauf, S. (1986) "Multiple Time Series Regressions with Integrated Processes", Review of Economic Studies 53. Rotemberg, J. (1982): "Monopolistic Price Adjustment and Aggregate Output" Review of Economic Studies 49. Rotemberg, J. and Saloner, G. (1986) "A Supergame - Theoretic Model of Price Wars during Booms" American Economic Review. Wadhwani, S. (1987) "The Effects of Aggregate Demand, Inflation, Real Wages and Uncertainty on Manufacturing Employment", Economica 53.
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