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Inventory, Business Cycles and Monetary Transmission

  • Conference proceedings
  • © 1994

Overview

Editors:
  1. Riccardo Fiorito

    1. Department of Economics, University of Siena, Siena, Italy

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Part of the book series: Lecture Notes in Economics and Mathematical Systems (LNE, volume 413)

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Table of contents (10 papers)

  1. Front Matter

    Pages I-VI
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  2. Introduction

    1. Introduction

      • Riccardo Fiorito
      Pages 1-7

  3. Inventory Theory and Data

    1. Front Matter

      Pages 9-9
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    2. Inventory Fluctuations and Macroeconomics

      • Michael C. Lovell
      Pages 11-35

    3. Estimating the Change in Business Inventories in the U.S. National Accounts

      • Murray F. Foss
      Pages 36-57

  4. Inventory and Monetary Transmission

    1. Front Matter

      Pages 59-59
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    2. Modeling the Liquidity Effect of a Money Shock

      • Lawrence J. Christiano
      Pages 61-124

    3. Changing Relations between Inventories and Bank Loans

      • Donald D. Hester
      Pages 125-147

    4. Macroeconomic Policies and the Inventory Cycle

      • Guy Laroque
      Pages 148-172

  5. Inventory and Labor Market

    1. Front Matter

      Pages 173-173
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    2. Inventories and Multi-Period Labor Contracts: Implications for Business Cycle Analysis

      • John C. Haltiwanger, Louis J. Maccini
      Pages 175-205

  6. Econometrics of the Linear Quadratic Inventory Model

    1. Front Matter

      Pages 207-207
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    2. Variance Bounds Tests of Inventory Behavior in Disaggregate Manufacturing Industries

      • Sophia P. Dimelis, Moheb A. Ghali
      Pages 209-226

    3. On a Test by K.D. West

      • Tryphon Kollintzas
      Pages 227-252

    4. Some Evidence on the Finite Sample Behavior of an Instrumental Variables Estimator of the Linear Quadratic Inventory Model

      • Kenneth D. West, David W. Wilcox
      Pages 253-282

  7. Back Matter

    Pages 283-290
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Keywords

About this book

Inventory changes constitute in all countries a small fraction of the Gross National Product but also a major source or an indicator of cyclical fluctuations. In this volume both possible ways of propagation are investigated by examining in the first part what macroeconomists have learned and still have to learn about inventories in the light of statistical definitions and problems. In the second part, the role of monetary shocks in propagating business cycles is considered through liquidity effects and in relation to inventory adjustment. A possible linkage between inventory and labor market is shown. Finally, new evidence and theoretical insights are provided on the linear-quadratic inventory model and its ability to discriminate econometrically among competing firm behavior.

Editors and Affiliations

  • Department of Economics, University of Siena, Siena, Italy

    Riccardo Fiorito

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