| Finance and Economics Discussion Series: Motor Vehicle Stocks, Scrappage, and Sales Contributor(s): Greenspan, Alan (Author), Cohen, Darrel (Author), United States Federal Reserve Board (Created by) |
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ISBN: 1288722095 ISBN-13: 9781288722099 Publisher: Bibliogov OUR PRICE: $14.96 Product Type: Paperback - Other Formats Published: February 2013 |
| Additional Information |
| BISAC Categories: - Political Science |
| Physical Information: 0.08" H x 7.44" W x 9.69" (0.19 lbs) 38 pages |
| Descriptions, Reviews, Etc. |
| Publisher Description: This paper offers a new framework for analyzing aggregate sales of new motor vehicles that incorporates separate models for the change in the vehicle stock and for the rate of vehicle scrappage. Because this approach requires only a minimal set of assumptions about demographic trends, the state of the economy, consumer "preferences," new vehicle prices and repair costs, and vehicle retirements, it is shown to be especially useful as a macroeconomic forecasting tool. In addition, a new historical annual time series estimate of motor vehicle stocks in the United States is presented. |