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,
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- Kenneth D. West, 1985.
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NBER Working Papers
1581, National Bureau of Economic Research, Inc.
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- 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.
- 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, 1981.
"Inventories and the Structure of Macro Models,"
American Economic Review,
American Economic Association, vol. 71(2), pages 11-16, May.
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