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http://hdl.handle.net/10419/50442
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| Title: | | Inventory investment and production in Europe: Is there a pattern?  |
| Authors: | | Abrahamsen, Yngve Hartwig, Jochen |
| Issue Date: | | 2011 |
| Series/Report no.: | | KOF working papers // KOF Swiss Economic Institute, ETH Zurich 271 |
| Abstract: | | The paper investigates the nexus between inventory investment and the change in aggregate production for 29 European countries over the period 2000-2009. A special interest is taken in the Great Recession of 2008/09. For most countries, a fairly uniform pattern emerges. Inventory investment is positively correlated with changes in production and follows the latter with a time-lag of two to three quarters. Therefore, there is no evidence that inventory investment either drives or smoothes the business cycle. Very few countries - Austria, Greece, Spain, and Switzerland - diverge from the typical pattern. This might hint to problems with respect to data quality. |
| Subjects: | | Inventory investment production business cycle Great Recession in Europe |
| JEL: | | E22 E32 O52 |
| Persistent Identifier of the first edition: | | doi:10.3929/ethz-a-006341658 |
| Document Type: | | Working Paper |
| Appears in Collections: | | KOF Working Papers, KOF Konjunkturforschungsstelle, ETH Zürich
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