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Evidence from seven countries on whether inventories smooth aggregate output

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  • West, Kenneth D.

Abstract

Casual examination of annual postwar data on inventories and aggregate output for seven developed countries -- Canada, France, West Germany, Italy, Japan, United Kingdom, United States -- suggests that in these countries the primary function of aggregate inventories is not to smooth aggregate output in the face of aggregate demand shocks. Japan is a possible exception to this generalization.
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Suggested Citation

  • West, Kenneth D., 1990. "Evidence from seven countries on whether inventories smooth aggregate output," Engineering Costs and Production Economics, Elsevier, vol. 19(1-3), pages 85-90, May.
    • Handle: RePEc:eee:ecpeco:v:19:y:1990:i:1-3:p:85-90
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    Cited by:

    1. Darren Flood & Philip Lowe, 1993. "Inventories and the Business Cycle," RBA Research Discussion Papers rdp9306, Reserve Bank of Australia.
    2. West, Kenneth D., 1992. "A comparison of the behavior of Japanese and US inventories," International Journal of Production Economics, Elsevier, vol. 26(1-3), pages 115-122, February.
    3. Eric Dubois, 1991. "Le modèle de lissage de la production par les stocks est-il valide en France ?," Économie et Prévision, Programme National Persée, vol. 99(3), pages 95-111.
    4. Ramey, Valerie A. & West, Kenneth D., 1999. "Inventories," Handbook of Macroeconomics, in: J. B. Taylor & M. Woodford (ed.), Handbook of Macroeconomics, edition 1, volume 1, chapter 13, pages 863-923, Elsevier.
    5. Corbett, Jenny & Hay, Donald & Louri, Helen, 1999. "A financial portfolio approach to inventory behaviour: Japan and the UK," International Journal of Production Economics, Elsevier, vol. 59(1-3), pages 43-52, March.
    6. Ginama, Isamu, 1996. "Conditional volatility and the production smoothing hypothesis of inventory investment," International Journal of Production Economics, Elsevier, vol. 45(1-3), pages 29-36, August.
    7. Blinder, Alan S & Maccini, Louis J, 1991. "The Resurgence of Inventory Research: What Have We Learned?," Journal of Economic Surveys, Wiley Blackwell, vol. 5(4), pages 291-328.
    8. Vastag, Gyula & Montabon, Frank, 2001. "Linkages among manufacturing concepts, inventories, delivery service and competitiveness," International Journal of Production Economics, Elsevier, vol. 71(1-3), pages 195-204, May.
    9. Ginama, Isamu, 1999. "Conditional production smoothing in the United Kingdom and Japan," International Journal of Production Economics, Elsevier, vol. 59(1-3), pages 23-32, March.
    10. Beaulieu, J Joseph & Miron, Jeffrey A, 1992. "A Cross Country Comparison of Seasonal Cycles and Business Cycles," Economic Journal, Royal Economic Society, vol. 102(413), pages 772-788, July.
    11. David Bivin & Brad Humphreys, 2009. "Accounting for output fluctuations in manufacturing," Applied Economics, Taylor & Francis Journals, vol. 41(18), pages 2335-2352.
    12. Darren Flood & Philip Lowe, 1995. "Inventories and the Business Cycle," The Economic Record, The Economic Society of Australia, vol. 71(1), pages 27-39, March.
    13. Carine Bouthevillain & Didier Eyssartier, 1997. "Le rôle des variations de stocks dans les cycles d'activité des principaux pays industrialisés," Revue de l'OFCE, Programme National Persée, vol. 62(1), pages 151-202.

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