Kim, Yungsan; Choi, Woon Gyu - International Monetary Fund (IMF) - 2001
Based on an analysis of high-frequency panel data for U.S. firms, this paper finds that inventory investment has been … justified on the grounds that inventory fluctuations are largely attributable to unexpected sales shocks, and that firms …, contrary to the finding of Kashyap, Lamont, and Stein (1994) that inventory investment is liquidity-constrained during …
