We examine the role of inventories and capacity utilization (of both capital and labor) for the propagation of business … cycle fluctuations. We document a new set of facts regarding the U.S. cyclical regularities of inventories and capacity … comove with the holdings of inventories. Second, we find that labor utilization is procyclical as well, but is weakly …

demand shocks. This hypothesis seems to be a good framework to account for inventories fluctuations. We find some evidence …

The aim of this paper is the identification of structural shocks which affect the dynamics of sectoral inventories … French time series of aggregate production, sectoral production and sectoral inventories. The results are similar for both … become significant. Conversely, sectoral inventories are influenced in the short run by the idiosyncratic demand shock and in …