Inventories, Fluctuations and Business Cycles. Working paper #4

Louis Maccini () and Adrian Pagan

No 4, NCER Working Paper Series from National Centre for Econometric Research

Abstract: The paper looks at the role of inventories in U.S. business cycles and fluctuations. It concentrates upon the goods producing sector and constructs a model that features both input and output inventories. A range of shocks are present in the model, including sales, technology and inventory cost shocks. It is found that the presence of inventories does not change the average business cycle characteristics in the U.S. very much. The model is also used to examine whether new techniques for inventory control might have been an important contributing factor to the decline in the volatility of US GDP growth. It is found that these would have had little impact upon the level of volatility.

Date: 2006-09-15
New Economics Papers: this item is included in nep-bec and nep-mac
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:qut:auncer:2006-4

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