Inventories and the business cycle : with special reference to Canada / by Clarence L. Barber.

Includes bibliographical references and index.

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Frontmatter -- Preface -- Contents -- Tables -- Illustrations -- Chapter One. The Economic Role of Inventories -- Chapter Two. The Treatment of Inventories in Business Cycle Theory -- Chapter Three. Inventory Fluctuations in a Simple Model of the Economic System -- Chapter Four. A Second Model -- Chapter Five. The Effects of Inventory Fluctuations on Different Commodities and Stages of Production -- Chapter Six. The Relation of Price Changes to Cyclical Fluctuations in Inventories -- Chapter Seven. Expenditure on Consumers' Services and Inventory Fluctuations -- Chapter Eight. Investment Expenditures, the Government. The Savings Schedule, and Inventory Fluctuations -- Chapter Nine. Summary and Conclusions -- Chapter Ten. Inventory Fluctuations in Ten Manufacturing Industries, 1918 to 1950 -- Chapter Eleven. Inventory Fluctuations in the Canadian Economy -- Chapter Twelve. Conclusion -- Statistical Appendix -- Notes -- Index

This study falls into two parts. Part I contains a theoretical analysis of the relation of inventories and inventory fluctuations to the business cycle. It begins with a brief survey of the treatment of inventories in the literature of business cycles. Then a theoretical model of the economic system is developed as a basis for judging the nature and importance of inventory fluctuations in the economy. Part II is a study of inventory fluctuations in Canada over the period from 1918 to 1950 and provides some inductive verification of the preceding theoretical argument. The behaviour of inventories in ten important manufacturing industries is analysed in detail. This part also contains analysis of the movement of total inventories and of the behaviour of inventories in the main industrial subdivisions of the economy. Finally a brief chapter relates these findings to the theoretical analysis of Part I. Canadian Studies in Economics, No. 10.

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