Evidence From Seven Countries on Whether Inventories Smooth Aggregate Output
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.
|Date of creation:||Jul 1988|
|Date of revision:|
|Publication status:||published as Engineering Costs and Production Economics, 1989.|
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- Blinder, Alan S, 1986.
"Can the Production Smoothing Model of Inventory Behavior Be Saved?,"
The Quarterly Journal of Economics,
MIT Press, vol. 101(3), pages 431-53, August.
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NBER Working Papers
1581, National Bureau of Economic Research, Inc.
- West, Kenneth D, 1986. "A Variance Bounds Test of the Linear Quadratic Inventory Model," Journal of Political Economy, University of Chicago Press, vol. 94(2), pages 374-401, April.
- Alan S. Blinder, 1981.
"Inventories and Sticky Prices: More on the Microfoundations of Macroeconomics,"
NBER Working Papers
0620, National Bureau of Economic Research, Inc.
- Blinder, Alan S, 1982. "Inventories and Sticky Prices: More on the Microfoundations of Macroeconomics," American Economic Review, American Economic Association, vol. 72(3), pages 334-48, June.
- Kenneth D. West, 1987. "Order Backlogs and Production Smoothing," NBER Working Papers 2385, National Bureau of Economic Research, Inc.
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