European Parliament Library

Cyclical Behavior of Inventories and Growth Projections Recent Evidence From Europe and the United States, Willy Hoffmaister, Jens Clausen

In the United States and a few European countries, inventory behavior is mainly the outcome of demand shocks: a standard buffer-stock model best characterizes these economies. But most European countries are described by a modified buffer-stock model where supply shocks dominate. In contrast to the United States, inventories boost growth with a one-year lag in Europe. Moreover, inventories provide limited information to improve growth forecasts particularly when a modified buffer-stock model characterizes inventory behavior
Table Of Contents
Cover Page; Title Page; Copyright Page; Contents; I. Introduction; 1. Contributions to Growth, 2008Q1-2009Q4; II. Inventory Behavior; A. Stylized Facts; 2. Inventories in Germany, France, Italy, and the United States, 1991Q1- 2009Q4; 1. Inventory Investment and the Business Cycle; 3. Output Growth and Inventories, 1991-2009; B. How Well Do Simple Inventory Models Fit the Data?; 2. Basic Statistics; 3. Inventory Model Scorecard; 4. Explaining the Basic Stylized Facts of Inventory Behavior; 1. Two Simple Models of Inventories; III. The Role of Inventories in Forecasting Output Growth
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (47 p.)
Specific Material Designation
Form Of Item

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