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Inventory Investment Dynamics and Recoveries : A Comparison of Manufacturing and Retail Trade Sectors

Author

Listed:
  • Frédérique Bec

    (THEMA - Théorie économique, modélisation et applications - CNRS - Centre National de la Recherche Scientifique - CY - CY Cergy Paris Université)

  • Marie Bessec

    (THEMA - Théorie économique, modélisation et applications - CNRS - Centre National de la Recherche Scientifique - CY - CY Cergy Paris Université)

Abstract

This paper explores the existence of a bounce-back effect in inventory investment using the European Commission opinion survey on stocks of finished products in manufacturing and retail trade sectors. The data are quarterly balance for France, Germany and a European aggregate, from 1985q1 to 2011q4. Our empirical findings support the existence of a high recovery episode for inventory investment, during the quarters immediately following the recessions. This could in turn explain the real GDP growth rate bounce-back pointed out in previous empirical studies. Moreover, according to our estimates, the inventory investment bounce-back occurs later and lasts longer in manufacturing than in retail trade sector.
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Suggested Citation

  • Frédérique Bec & Marie Bessec, 2013. "Inventory Investment Dynamics and Recoveries : A Comparison of Manufacturing and Retail Trade Sectors," Post-Print hal-02979461, HAL.
    • Handle: RePEc:hal:journl:hal-02979461
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    2. repec:spo:wpmain:info:hdl:2441/3bvs8clr5k9dqqcbq7j5ul2o65 is not listed on IDEAS
    3. Jean Barthélemy & Magali Marx, 2012. "Generalizing the Taylor Principle: New Comment," Sciences Po Economics Publications (main) hal-03461113, HAL.
    4. Jean Barthélemy & Magali Marx, 2012. "Generalizing the Taylor Principle: New Comment," SciencePo Working papers hal-03461113, HAL.

    More about this item

    JEL classification:

    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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