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Seasonality and Stock-Adjustment Models of Retail Food Store Inventory Behavior

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  • Stephen E. Miller

Abstract

In this paper I apply competing specifications of the stock-adjustment process for retail inventories to both seasonal and seasonally adjusted retail food store data. My objective is to determine whether the contradictory evidence from previous research regarding the adequacy of stock-adjustment models can be explained by differences in model specification and the treatment of seasonality. The results indicate that seasonally adjusted data obscure important aspects of retail inventory behavior. A stock-adjustment model which allows for the role of ending inventories in meeting expected future sales performs better than a competing model.

Suggested Citation

  • Stephen E. Miller, 1990. "Seasonality and Stock-Adjustment Models of Retail Food Store Inventory Behavior," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 72(4), pages 1018-1027.
    • Handle: RePEc:oup:ajagec:v:72:y:1990:i:4:p:1018-1027.
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    File URL: http://hdl.handle.net/10.2307/1242633
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    Cited by:

    1. Howard Doran, 1993. "Testing Nonnested Models," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 75(1), pages 95-103.

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