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http://hdl.handle.net/10419/50442
  
Title:Inventory investment and production in Europe: Is there a pattern? PDF Logo
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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