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A reexamination of the inventory buffer effect with disaggregate data
Harris, Ethan S. (1988)
Research Paper , Paper 8817

Journal Article
Inventories adjust quickly
Bechter, Dan M.; Stanley, Stephen (1991-01)
Cross Sections , Issue Win , Pages 8-9

Working Paper
Inventory dynamics and business cycles: what has changed?
Zakrajšek, Egon; McCarthy, Jonathan (2003)
Despite the recent patch of sluggish growth, the U.S. economy has experienced a period of remarkable stability since the mid-1980s. One popular explanation attributes the diminished variability of economic activity to information-technology-led improvements in inventory management. Our results, however, indicate that the changes in inventory dynamics since the mid-1980s played a reinforcing---rather than a leading---role in the volatility reduction. Movements in the volatility of manufacturing output over the past three decades almost entirely reflect changes in the variability of the growth ...
Finance and Economics Discussion Series , Paper 2003-26

Working Paper
What inventories tell us about aggregate fluctuations -- a tractable approach to (S,s) policies
Xu, Zhiwei; Wen, Yi; Wang, Pengfei (2012)
We estimate a DSGE model with (S,s) inventory policies. We find that (i) taking inventories into account can significantly improve the empirical fit of DSGE models in matching the standard business-cycle moments (in addition to explaining inventory fluctuations); (ii) (S,s) inventory policies can significantly amplify aggregate output fluctuations, in contrast to the findings of the recent general-equilibrium inventory literature; and (iii) aggregate demand shocks become more important than technol- ogy shocks in explaining the business cycle once inventories are incorporated into the model. ...
Working Papers , Paper 2012-059

Journal Article
Improving production management
Allen, Donald S. (1998-04)
National Economic Trends , Issue Apr

Journal Article
Present position of the durable goods inventory
Terborgh, George (1940-10)
Federal Reserve Bulletin , Issue Oct

Speech
The national and regional economic outlook
Dudley, William (2012)
Remarks at the Buffalo-Niagara Partnership, Buffalo, New York .
Speech , Paper 80

Working Paper
Input and output inventories
Maccini, Louis J.; Humphreys, Brad R.; Schuh, Scott (1997)
This paper builds and estimates a new model of firm behavior that includes decisions to order, use, and stock input materials in a stage-of-fabrication environment with either gross production or value added technology. The model extends the traditional linear-quadratic model of output (finished goods) inventories by incorporating delivery and usage of input materials plus input inventory investment - features which largely have been ignored in the literature. Stylized facts indicate that input inventories are empirically more important than output inventories, especially in business cycle ...
Working Papers , Paper 97-7

Working Paper
What Drives Inventory Accumulation? News on Rates of Return and Marginal Costs
Gunn, Christopher; Gortz, Christoph; Lubik, Thomas A. (2019-10-10)
We study the effects of news shocks on inventory accumulation in a structural VAR framework. We establish that inventories react strongly and positively to news about future increases in total factor productivity. Theory suggests that the transmission channel of news shocks to inventories works through movements in marginal costs, through movements in sales, or through interest rates. We provide evidence that changes in external and internal rates of return are central to the transmission for such news shocks. We do not find evidence of a strong substitution effect that shifts production from ...
Working Paper , Paper 19-18

Working Paper
Input and output inventories in general equilibrium
Schiantarelli, Fabio; Schuh, Scott; Iacoviello, Matteo (2010)
We build and estimate a two-sector (goods and services) dynamic stochastic general equilibrium model with two types of inventories: materials (input) inventories facilitate the production of finished goods, while finished goods (output) inventories yield utility services. The model is estimated using Bayesian methods. The estimated model replicates the volatility and cyclicality of inventory investment and inventory-to-target ratios. Although inventories are an important element of the model's propagation mechanism, shocks to inventory efficiency or management are not an important source of ...
International Finance Discussion Papers , Paper 1004

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