RDP 2013-13: Inventory Investment in Australia and the Global Financial Crisis References

Abadie A and GW Imbens (2011), ‘Bias-Corrected Matching Estimators for Average Treatment Effects’, Journal of Business & Economic Statistics, 29(1), pp 1–11.

ABS (Australian Bureau of Statistics) (2012), Australian System of National Accounts: Concepts, Sources and Methods, 3rd edn, ABS Cat No 5216.0, Australian Bureau of Statistics, Canberra.

Alessandria G, JP Kaboski and V Midrigan (2010), ‘The Great Trade Collapse of 2008-09: An Inventory Adjustment?’, NBER Working Paper No 16059.

Almeida H, M Campello, B Laranjeira and S Weisbenner (2009), ‘Corporate Debt Maturity and the Real Effects of the 2007 Credit Crisis’, NBER Working Paper No 14990.

Benati L and TA Lubik (2012), ‘Sales, Inventories, and Real Interest Rates: A Century of Stylized Facts’, Federal Reserve Bank of Richmond Working Paper No 12-02.

Benmelech E and E Dvir (2013), ‘Does Short-Term Debt Increase Vulnerability to Crisis? Evidence from the East Asian Financial Crisis’, Journal of International Economics, 89(2), pp 485–494.

Berger AN and GF Udell (1998), ‘The Economics of Small Business Finance: The Roles of Private Equity and Debt Markets in the Financial Growth Cycle’, Journal of Banking & Finance, 22(6–8), pp 613–673.

Black S and T Cusbert (2010), ‘Durable Goods and the Business Cycle’, RBA Bulletin, September, pp 11–18.

Black S, J Kirkwood and S Shah Idil (2009), ‘Australian Corporates’ Sources and Uses of Funds’, RBA Bulletin, October, pp 1–12.

Blinder AS and LJ Maccini (1991), ‘Taking Stock: A Critical Assessment of Recent Research on Inventories’, The Journal of Economic Perspectives, 5(1), pp 73–96.

Carpenter RE, SM Fazzari and BC Petersen (1994), ‘Inventory Investment, Internal-Finance Fluctuations, and the Business Cycle’, Brookings Papers on Economic Activity, 1994(2), pp 75–138.

Carpenter RE, SM Fazzari and BC Petersen (1998), ‘Financing Constraints And Inventory Investment: A Comparative Study With High-Frequency Panel Data’, The Review of Economics and Statistics, 80(4), pp 513–519.

CPA Australia (2012), The CPA Australia Asia-Pacific Small Business Survey 2012, CPA Australia Ltd, Southbank.

Flood D and P Lowe (1993), ‘Inventories and the Business Cycle’, RBA Research Discussion Paper No 9306.

Gertler M and S Gilchrist (1994), ‘Monetary Policy, Business Cycles, and the Behavior of Small Manufacturing Firms’, The Quarterly Journal of Economics, 109(2), pp 309–340.

Graham JR and CR Harvey (2001), ‘The Theory and Practice of Corporate Finance: Evidence from the Field’, Journal of Financial Economics, 60(2–3), pp 187–243.

Guariglia A (1999), ‘The Effects of Financial Constraints on Inventory Investment: Evidence from a Panel of UK Firms’, Economica, 66(261), pp 43–62.

Guariglia A and S Mateut (2006), ‘Credit Channel, Trade Credit Channel, and Inventory Investment: Evidence from a Panel of UK Firms’, Journal of Banking & Finance, 30(10), pp 2835–2856.

Jacobs D and V Rayner (2012), ‘The Role of Credit Supply in the Australian Economy’, RBA Research Discussion Paper No 2012-02.

Jones CS and S Tuzel (2013), ‘Inventory Investment and the Cost of Capital’, Journal of Financial Economics, 107(3), pp 557–579.

Kashyap AK, OA Lamont and JC Stein (1994), ‘Credit Conditions and the Cyclical Behavior of Inventories’, The Quarterly Journal of Economics, 109(3), pp 565–592.

KPMG (KPMG Corporate Finance (Aust) Pty Ltd) (2010), ‘Independent Expert Report & Financial Services Guide’, in ‘Adtrans Group Limited Target's Statement in Response to a Conditional, Off-Market Takeover Offer by A.P. Eagers Limited’.

Lown C and DP Morgan (2006), ‘The Credit Cycle and the Business Cycle: New Findings Using the Loan Officer Opinion Survey’, Journal of Money, Credit and Banking, 38(6), pp 1575–1597.

Maccini LJ, BJ Moore and H Schaller (2004), ‘The Interest Rate, Learning, and Inventory Investment’, The American Economic Review, 94(5), pp 1303–1327.

Parliament of Australia (2009), ‘Bills Digest No 137 2008–09: Car Dealership Financing Guarantee Appropriation Bill 2009’.

Peek J, ES Rosengren and GMB Tootell (2003), ‘Identifying the Macroeconomic Effect of Loan Supply Shocks’, Journal of Money, Credit and Banking, 35(6, Part 1), pp 931–946.

Petersen MA and RG Rajan (1997), ‘Trade Credit: Theories and Evidence’, The Review of Financial Studies, 10(3), pp 661–691.

Ramey VA and KD West (1999), ‘Inventories’, in JB Taylor and M Woodford (eds), Handbook of Macroeconomics, Volume 1B, Handbooks in Economics 15, Elsevier Science, Amsterdam, pp 863–923.

Tsoukalas JD (2006), ‘Financing Constraints and Firm Inventory Investment: A Reexamination’, Economics Letters, 90(2), pp 266–271.