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Inventories dynamics and sectoral propagation mechanisms An empirical study with French and American data

Author

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  • Mélika Ben Salem

    (MAD - Université Paris 1 et Université d'Evry-Val-d'Essonne)

  • Jean-François Jacques

    (MAD - Université Paris 1 et Université Paris IX)

Abstract

The aim of this paper is to reveal empirically two kinds of mechanisms which operate on inventories: one is demand related and the other is supply related. Accordingly, we first test the presence of cointegration relationships in the dynamic bivariate inventories-sales model then we perform Granger-causality tests. It allows for a full specification of the dynamic properties of these series. Our results suggest that inventories movements stem from demand factors. Moreover, inventories and sales are linked in the long run, especially in the trade sectors. In France the dataset used prevents us from concluding in this way

Suggested Citation

  • Mélika Ben Salem & Jean-François Jacques, 1996. "Inventories dynamics and sectoral propagation mechanisms An empirical study with French and American data," Cahiers de la Maison des Sciences Economiques 96034, Université Panthéon-Sorbonne (Paris 1).
    • Handle: RePEc:mse:wpsorb:96034
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    Keywords

    inventories; business cycle; causality;
    All these keywords.

    JEL classification:

    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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