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National Repository of Grey Literature 1 records found  Search took 0.01 seconds. 
Net inventory investment and its importance in business cycle
 Kučera, Lukáš ; Mirvald, Michal (advisor) ; Chytilová, Helena (referee)
Cyclical component of aggregate net inventory investment in Czech republic between I.quarter 1996 and IV.quarter 2010 can be described by Production smoothing model, which says, that it is more advantageous for firms to absorb shocks of their product demand into inventories than to adjust their production permanently. This statement stands on a discovery, that cyclical component of net inventory investment is negativelly corralated with cyclical component of final sales and at the same time variability of cyclical component of final sales is higher than cyclical component of production (GDP). Although it is not possible to expect that every firm in the economy will behave according to this model, it seems, with respect to the analysis, that the cost of adjustment is one of the most important factors considered by firms within their optimalization problem.
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