La place des stocks dans les fluctuations conjoncturelles
This paper analyzes the role played by inventories in the propagation of economic shocks using aggregate data for OECD countries and panel data from a sample of french firms. The approach is purely descriptive. The statement 'Production is more volatile than sales' appears to be sensitive to the periodicity of the data at the macroeconomic level: it dœ=s not hold on quarterly data in France. We do find however that the purchases of the trade sector are move variable than its sales, indicating a destabilizing effect of inventories.
Volume (Year): (1992)
Issue (Month): 28 ()
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