Production Smoothing in the Linear Quadratic Inventory Model
指出线性二次库存模型并不总是意味着产出波动小于销售波动；当需求冲击未被预期且边际成本曲线较平坦时，产出波动可能更大。
Contrary to popular belief, the linear quadratic inventory model does not imply that, in response to demand shocks, output is always less variable than sales. When demand shocks are not anticipated, and without this assumption it is hard to see why firms should hold inventories in the first place, it is shown that output can be more variable than sales, even when the only shocks are demand shocks, and the inventory target is not a rising function of sales. The variance of output will typically exceed that of sales when the firm's marginal cost curve is fairly flat.