Myopic Behavior and Cycles in Aggregate Output: A Note on the Role of Correlated Quantity Adjustments

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	Myopic Behavior and Cycles in Aggregate Output: A Note on the Role of Correlated Quantity Adjustments
	Witt，Ulrich 1; Sun，Guang Zhen2
	2003-12-09
Source Publication	Jahrbucher fur Nationalokonomie und Statistik
ABS Journal Level	1
ISSN	00214027
Volume	222 Issue:3 Pages:366-376
Abstract	In pursuing their plans economic agents regularly have to adjust their pacing of orders, production, and deliveries in unanticipated ways. Information constraints turn many of these adjustments into myopic reactions to accelerations/decelerations observed in the activity level of suppliers and/or customers. For analyzing the resulting dynamics, this note suggests a macroeconomic model derived from the idea of representing the adaptive interdependencies in terms of a system of integrated service channels. It sheds new light on what happens in stages of strained/exhausted production capacity and implies the possibility of cycles in aggregate output due to imperfectly synchronized production processes.
Keyword	Business cycle Locally correlated adaptations Myopic behavior Servicing systems
URL	View the original
Language	英語English
Fulltext Access	View Full-Text via Scopus
Document Type	Journal article
Collection	DEPARTMENT OF ECONOMICS
Affiliation	1.Max Planck Inst. Res. Economic Syst.,Germany 2.Fac. of Social Sci. and HumanitiesUniversity of Macau,Brazil
Recommended Citation GB/T 7714	Witt，Ulrich,Sun，Guang Zhen. Myopic Behavior and Cycles in Aggregate Output: A Note on the Role of Correlated Quantity Adjustments[J]. Jahrbucher fur Nationalokonomie und Statistik, 2003, 222(3), 366-376.
APA	Witt，Ulrich., & Sun，Guang Zhen (2003). Myopic Behavior and Cycles in Aggregate Output: A Note on the Role of Correlated Quantity Adjustments. Jahrbucher fur Nationalokonomie und Statistik, 222(3), 366-376.
MLA	Witt，Ulrich,et al."Myopic Behavior and Cycles in Aggregate Output: A Note on the Role of Correlated Quantity Adjustments".Jahrbucher fur Nationalokonomie und Statistik 222.3(2003):366-376.

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