The Econometric SocietyEdited by: Guido W. Imbens • Print ISSN: 0012-9682 • Online ISSN: 1468-0262
Econometrica: Jan, 1968, Volume 36, Issue 1
https://doi.org/0012-9682(196801)36:1<155:PAROSL>2.0.CO;2-R
p. 155-171
Haskel Benishay
A model is constructed for three related time series: an inflow, a stock, and an outflow. The inflow and outflow time series are related via a truly stochastic distributed lag and the three time series are viewed as cumulations of a random number of units of randomly determined size. Among the interesting results are the serial correlations of the stock and outflow time series viewed singly and the cross and cross serial correlations between outflow in t and stock at t - 1, outflow in t, and inflow in t - 1, as well as between stock in t and inflow in t - i. These relations and others make it possible to evaluate the comparative advantage of lead series in forecasting lag series and as such may be of methodological value for the evaluation of stabilization policies. The model may be viewed as a description of several inflow-stock-outflow phenomena: trade credit and consumer credit processes, demand deposits of commercial banks, population and labor force, the formation and decay of aggregates of capital projects, and some aspects of the income-expenditure process.
March 5, 2024
The terms of the Editors of the Econometric Society's three journals end June 30, 2025. We are pleased to announce the incoming Editors and to thank the outgoing Editors for their excellent and continuing service.
Econometrica: Since 2019, Guido Imbens has served as the 14th Editor of Econometrica. On July 1, 2025, Marina Halac will become the Editor.
Quantitative Economics: Stéphane Bonhomme has been the Editor of Quantitative Economics since 2021. His successor will be Bernard Salanié.
Theoretical Economics: The Editor of Theoretical Economics since 2021 has been Simon Board. Taking over for him in July 2025 will be Federico Echenique.
Guido, Stéphane, and Simon have been outstanding Editors. We are grateful to them for the work they have done and will continue to do, and we look forward to further congratulating them next year. We believe Marina, Bernard, and Federico will be outstanding successors and we thank them in advance for their service.
Finally, we are grateful to Larry Samuelson for chairing all three search committees, and we thank the search committee members for their hard and fruitful work:
Econometrica: Christian Dustmann, Lars Hansen, Alessandro Lizzeri, George Mailath, Ariel Pakes, Helene Rey, and Elie Tamer.
QE: Kate Ho, Michael Keane, Felix Kubler, Whitney Newey, and Frank Schorfheide.
TE: Jeff Ely, Johannes Horner, Gilat Levy, Meg Meyer, and Ran Spiegler.
