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Inventories, Fluctuations, And Goods Sector Cycles

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  • Maccini, Louis J.
  • Pagan, Adrian

Abstract

The paper looks at the role of inventories in U.S. cycles and fluctuations. It concentrates on the goods-producing sector and constructs a model that features both input and output inventories. A range of shocks are present in the model, including sales, technology, and inventory cost shocks. It is found that the presence of inventories does not change the average goods sector–cycle characteristics in the United States very much. The model is also used to examine whether new techniques for inventory control might have been an important factor contributing to the decline in the volatility of U.S. GDP growth. It is found that these would have had little impact upon the level of volatility.

Suggested Citation

  • Maccini, Louis J. & Pagan, Adrian, 2013. "Inventories, Fluctuations, And Goods Sector Cycles," Macroeconomic Dynamics, Cambridge University Press, vol. 17(1), pages 89-122, January.
    • Handle: RePEc:cup:macdyn:v:17:y:2013:i:01:p:89-122_00
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    Cited by:

    1. Sedjro Aaron Alovokpinhou & Christopher Malikane & Tshepo Mokoka, 2022. "Inventory dynamics and endogenous persistence in a new Keynesian model," Applied Economics, Taylor & Francis Journals, vol. 54(17), pages 1957-1973, April.
    2. Yulei Luo & Jun Nie & Xiaowen Wang & Eric Young, 2021. "Production and Inventory Dynamics under Ambiguity Aversion," Research Working Paper RWP 21-05, Federal Reserve Bank of Kansas City.
    3. Adrian Pagan, 2013. "Patterns and Their Uses," NCER Working Paper Series 96, National Centre for Econometric Research.
    4. Chikán, Attila & Kovács, Erzsébet & Matyusz, Zsolt & Sass, Magdolna & Vakhal, Péter, 2016. "Long-term trends in inventory investment in traditional market and post-socialist economies," International Journal of Production Economics, Elsevier, vol. 181(PA), pages 14-23.

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