Journal Of The Econometric Society

An International Society for the Advancement of Economic
Theory in its Relation to Statistics and Mathematics

Edited by: Guido W. Imbens • Print ISSN: 0012-9682 • Online ISSN: 1468-0262

Econometrica: Apr, 1959, Volume 27, Issue 2

A Model of Seasonal Inventories<228:AMOSI>2.0.CO;2-5
p. 228-244

Michael J. Brennan

The model presented here attempts to bridge the gap between optimal inventory policies for individual firms and the determination of aggregate industry inventory levels. The optimal solution for a single firm sets the conditions for market equilibrium. An iterative dynamic solution is then applied to predict market levels of inventories for specific commodities.

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