scholarly journals What Inventory Behavior Tells Us About Business Cycles

2000 ◽  
Vol 90 (3) ◽  
pp. 458-481 ◽  
Author(s):  
Mark Bils ◽  
James A Kahn
Keyword(s):  
Business Cycles ◽  
Marginal Cost ◽  
Manufacturing Industries ◽  
Striking Feature ◽  
Intertemporal Substitution ◽  
Countercyclical Markups ◽  
Inventory Behavior

The countercyclical pattern of inventory-sales ratios is a striking feature of inventory behavior. In a model where inventories are productive for sales, both the markup of price over marginal cost and expected changes in marginal cost are key determinants of that ratio. This paper argues that costly variation in factor utilization gives rise to countercyclical markups in production-to-stock manufacturing industries. The markup turns out to be more important than intertemporal substitution in explaining the behavior of inventory-sales ratios. (JEL E22, E32)

What Inventory Behavior Tells Us About How Business Cycles Have Changed

2014 ◽  
Author(s):  
Thomas Lubik ◽  
Pierre-Daniel G. Sarte ◽  
Felipe F. Schwartzman
Keyword(s):  
Business Cycles ◽  
Inventory Behavior

Research Note: Safety, Statistics and Business Cycles: A Response to Nichols

1992 ◽  
Vol 40 (1) ◽  
pp. 132-145 ◽  
Author(s):  
Steve Tombs
Keyword(s):  
Business Cycles ◽  
Research Note ◽  
Manufacturing Industries ◽  
Accident Rates ◽  
Industrial Injuries

This article considers three criticisms made by Nichols of my article on ‘industrial injuries in British manufacturing’. First, I argue that, notwithstanding recognised problems with data which include ‘minor’ accidents, this should not be rejected. I then question the reliability of the alternative data used by Nichols, namely that related to fatalities in British manufacturing. Second, I show that Nichols' claim that accident rates were increasing rather than decreasing in the years 1975–1979 can only be sustained if one shifts the years within which the trend is considered, and ignores other evidence to the effect that the latter part of the seventies witnessed a continuation of a long-term decline in accident rates in British manufacturing industries. Finally, in response to the charge that I misled readers in my original article, I note how Nichols' argument was indeed one that prioritised ‘business cycles’; further, I indicate that Nichols has himself engaged in a highly focused reading of my earlier article.

scholarly journals Countercyclical markups and news-driven business cycles

2013 ◽  
Vol 16 (2) ◽  
pp. 371-382 ◽  
Author(s):  
Oscar Pavlov ◽  
Mark Weder
Keyword(s):  
Business Cycles ◽  
Countercyclical Markups

Union Organizing: Costs and Benefits

ILR Review ◽  
1983 ◽  
Vol 36 (4) ◽  
pp. 576-591 ◽  
Author(s):  
Paula B. Voos
Keyword(s):  
Marginal Cost ◽  
Union Wage ◽  
Manufacturing Industries ◽  
Union Organizing ◽  
Costs And Benefits ◽  
Union Coverage ◽  
Current Union

This paper examines the costs and benefits to current union members in manufacturing of programs to organize the unorganized. The marginal cost of organizing an additional employee, in constant dollars, is estimated for a sample of unions between 1964 and 1977. The primary benefit of organizing that is quantifiable is the extent to which the maintenance or extension of union coverage permits the maintenance of or increase in the union wage. Estimates of this benefit are derived from previous econometric research linking the union wage to the percentage of the industry organized. This single benefit is found to be larger than the estimated marginal cost of extending union coverage in 19 of 20 manufacturing industries.

What inventory behavior tells us about how business cycles have changed

2015 ◽  
Vol 76 ◽  
pp. 264-283 ◽  
Author(s):  
Pierre-Daniel Sarte ◽  
Felipe Schwartzman ◽  
Thomas A. Lubik
Keyword(s):  
Business Cycles ◽  
Inventory Behavior
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