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Titolo:
Inventory investment and asymmetric adjustment: Some evidence for the UK
Autore:
Holly, S; Turner, P;
Indirizzi:
Univ Cambridge, Dept Appl Econ, Cambridge CB3 9DE, England Univ CambridgeCambridge England CB3 9DE con, Cambridge CB3 9DE, England Univ Sheffield, Dept Econ, Sheffield, S Yorkshire, England Univ SheffieldSheffield S Yorkshire England field, S Yorkshire, England
Titolo Testata:
INTERNATIONAL JOURNAL OF PRODUCTION ECONOMICS
fascicolo: 3, volume: 72, anno: 2001,
pagine: 251 - 260
SICI:
0925-5273(20010813)72:3<251:IIAAAS>2.0.ZU;2-O
Fonte:
ISI
Lingua:
ENG
Soggetto:
FINANCIAL MARKET IMPERFECTIONS; PRODUCTION-SMOOTHING MODEL; BUSINESS CYCLES; BEHAVIOR; COSTS; FIRM;
Keywords:
inventories; asymmetries;
Tipo documento:
Article
Natura:
Periodico
Settore Disciplinare:
Engineering, Computing & Technology
Citazioni:
26
Recensione:
Indirizzi per estratti:
Indirizzo: Holly, S Univ Cambridge, Dept Appl Econ, Sidgwick Ave, Cambridge CB3 9DE, England Univ Cambridge Sidgwick Ave Cambridge England CB3 9DE E, England
Citazione:
S. Holly e P. Turner, "Inventory investment and asymmetric adjustment: Some evidence for the UK", INT J PRO E, 72(3), 2001, pp. 251-260

Abstract

There is now a plethora of non-linear time-series models of output over the business cycle, and considerable empirical evidence that there are key non-linear, poorly understood mechanisms at work. Though they account for a small part of the total flow of national income, inventories play a disproportionately large role in fluctuations in output. It would seem natural to try to determine what role inventories play in the non-linear behaviour of the business cycle. The first question is, are there economic models of firmbehaviour suggesting that the movement of inventories over the business cycle is non-linear? The second issue is whether we can detect such non-linearity in the data. In this paper we use data on the aggregate behaviour of UK manufacturing, but disaggregated according to the stage of fabrication. We find that the asymmetric adjustment of inventories varies with the stage of fabrication. (C) 2001 Elsevier Science B.V. All rights reserved.

ASDD Area Sistemi Dipartimentali e Documentali, Università di Bologna, Catalogo delle riviste ed altri periodici
Documento generato il 26/01/20 alle ore 22:49:46