Tests of production smoothing in selected Japanese industries

Article Abstract:

An examination of 29 selected Japanese industries backs the production smoothing model explaining inventory behaviour, with fluctuations in sales being more important than production fluctuations in almost all the selected industries. A test using random walk analysis of seasonal behaviour gives less clear cut results. The Japanese example does appear to fit the idea of production smoothing more than the case of the United States. This could be linked to Japanese concern for maintaining good will through being able to meet orders, and to labour policies in Japanese firms. More understanding is needed of motivations on production decisions related to seasons.

Noncommercial research organizations, Economic aspects, Japan, Production control, Inventories

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Deficits, government expenditures, and tax smoothing in the United States: 1929-1988

Article Abstract:

The tax smoothing hypothesis put forward by Barro suggests that government surpluses precede rises in spending or falling national income, a hypothesis which is partly backed by an examination of data on United States fiscal policy in the period 1929 to 1988. The hypothesis appears more valid for the period after 1947, though differences in the data could account for these different results. There is less evidence to support the idea of a link between current government expenditure and income levels, and income tax levels.

EXECUTIVE, LEGISLATIVE, AND GENERAL, Budget deficits

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The macroeconomic effects of government debt in a stochastic growth model

Article Abstract:

The study of the government debt's influence on macroeconomic aggregates through a standard general equilibrium model yields two major findings. Deficit-financed cuts in distortionary income taxation may encourage investment in spite of possible higher taxes on capital income. In addition, distortionary tax finance may decrease output, consumption and investment, while deficit finance may increase output and consumption.

Models, Management, Evaluation, National debt, Public debts, Macroeconomics, Equilibrium (Economics)

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