| Project/Area Number |
23530271
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Multi-year Fund |
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| Section | 一般 |
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| Research Field |
Applied economics
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| Research Institution | Osaka Gakuin University (2012-2013)
The University of Tokyo (2011) |
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Principal Investigator |
MIWA Yoshiro 大阪学院大学, 経済学部, 教授 (90109158)
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| Project Period (FY) |
2011 – 2013
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| Project Status |
Completed (Fiscal Year 2013)
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| Budget Amount *help |
¥3,640,000 (Direct Cost: ¥2,800,000、Indirect Cost: ¥840,000)
Fiscal Year 2013: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000)
Fiscal Year 2012: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000)
Fiscal Year 2011: ¥1,560,000 (Direct Cost: ¥1,200,000、Indirect Cost: ¥360,000)
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| Keywords | 在庫投資 / 企業間信用 / 銀行融資 / 景気変動 / 在庫調整 / 在庫投資行動 / 生産・出荷と在庫投資 / 製品在庫 / 仕掛品在庫 / 原材料在庫 / 流通在庫 / 銀行借入 / 金融危機 / 貸し渋り / 四半期SNA / 法人企業統計 / 在庫 / 不良債権処理 / バブル |
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| Research Abstract |
For more than half a century, inventory investment has attracted wide attention as a major cause of short-term macroeconomic fluctuations, and the mechanism involved have been the focus of many major studies. Yet microeconomists and business people familiar with corporate behavior frequently express misgivings about the enterprise.
Using Japanese quarterly GDP inventory investment statistics both by commodity and by category, 1994-2010, I investigate the nature of quarterly inventory statistics and inventory investment behavior, and draw two conclusions. First, statisticians estimate the quarterly statistics under severe constraints, and their resulting figures incorporate seasonal variations which dominate the quarterly fluctuations. This fluctuations mostly disappears in annual data. Secondly, when I examine the inventory variations after the Lehman Shock in the autumn of 2008, I find neither a notable increase in inventory stock nor a long-run stock adjustment process.
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