Cyclical Behavior of Inventories and Growth Projections Recent Evidence From Europe and the United States
AbstractIn the United States and a few European countries, inventory behavior is mainly the outcome of demand shocks: a standard buffer-stock model best characterizes these economies. But most European countries are described by a modified buffer-stock model where supply shocks dominate. In contrast to the United States, inventories boost growth with a one-year lag in Europe. Moreover, inventories provide limited information to improve growth forecasts particularly when a modified buffer-stock model characterizes inventory behavior.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 10/212.
Date of creation: 01 Sep 2010
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-10-16 (All new papers)
- NEP-EEC-2010-10-16 (European Economics)
- NEP-FDG-2010-10-16 (Financial Development & Growth)
- NEP-FOR-2010-10-16 (Forecasting)
- NEP-MAC-2010-10-16 (Macroeconomics)
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