Since inventories have a lower bound or a minimum operating level, economic literature suggests a nonlinear relationship between inventory level and commodity prices. This was found to be the case in the short-run crude oil market. In order to explore this inventory-price relationship, two nonlinear
β¦ LIBER β¦
A Short-Run Crude Oil Price Forecast Model with Ratchet Effect
β Scribed by Michael Ye; John Zyren; Carol Joyce Blumberg; Joanne Shore
- Publisher
- Springer US
- Year
- 2008
- Tongue
- English
- Weight
- 535 KB
- Volume
- 37
- Category
- Article
- ISSN
- 0197-4254
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## Abstract In this paper we propose a dynamic multinomial probit model in order to estimate the longβrun and shortβ run effects of marketing mix variables on brand choice. The latent variables, which contain the unobserved perceived utilities, follow a firstβorder vector error correction autoregre