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Abnehmende Bedeutung der Lagerinvestitionen für den Konjunkturverlauf?

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  • Döpke, Jörg
  • Langfeldt, Enno

Abstract

With the widespread application of inventory control Systems in industry and trade and a fast growing Services sector the influence of inventory changes on the business sector should become less important over time. However, the empirical eyidence for Germany in the period 1970-1994 shows that especially at cyclical turning-points inventory fluctuations continue to have a major impact on overall oütput. Additional research süggests that inventones in Germany are not part of the monetary transmission mechanism but work as an accelerator when there is a turnaround in final demand.

Suggested Citation

  • Döpke, Jörg & Langfeldt, Enno, 1997. "Abnehmende Bedeutung der Lagerinvestitionen für den Konjunkturverlauf?," Kiel Working Papers 815, Kiel Institute for the World Economy (IfW Kiel).
    • Handle: RePEc:zbw:ifwkwp:815
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    References listed on IDEAS

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    1. Fair, Ray C., 1989. "The production-smoothing model is alive and well," Journal of Monetary Economics, Elsevier, vol. 24(3), pages 353-370, November.
    2. Hillinger, Claude, 1989. "The role of inventory and equipment investment in economic fluctuations," Engineering Costs and Production Economics, Elsevier, vol. 15(1), pages 55-60, May.
    3. Anil K Kashyap & Owen A. Lamont & Jeremy C. Stein, 1994. "Credit Conditions and the Cyclical Behavior of Inventories," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 109(3), pages 565-592.
    4. Arbeitsgemeinschaft Deutscher Wirtschaftswissenschaftlicher Forschungsinstitute, 1992. "Die Lage der Weltwirtschaft und der deutschen Wirtschaft im Herbst 1992," DIW Wochenbericht, DIW Berlin, German Institute for Economic Research, vol. 59(44), pages 561-600.
    5. Blinder, Alan S & Maccini, Louis J, 1991. "The Resurgence of Inventory Research: What Have We Learned?," Journal of Economic Surveys, Wiley Blackwell, vol. 5(4), pages 291-328.
    6. repec:bla:ecorec:v:71:y:1995:i:212:p:27-39 is not listed on IDEAS
    7. Arbeitsgemeinschaft Deutscher Wirtschaftswissenschaftlicher Forschungsinstitute, 1992. "Die Lage der Weltwirtschaft und der deutschen Wirtschaft im Frühjahr 1992," DIW Wochenbericht, DIW Berlin, German Institute for Economic Research, vol. 59(16/17), pages 199-234.
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    More about this item

    Keywords

    Inventories; business cycles;

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E37 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Forecasting and Simulation: Models and Applications

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