Every Windows Server has a page file and Windows Server 2008 Server Core installations are no exception. Neither should they be an exception when it comes to tuning the page file for optimal performance and reliability.
What the page file is
The page file is usually described as a file that allows to use disk storage for data that do not fit into physical RAM. Other names for the page file are the ‘swap file’ and the ‘paging file’. Most administrators wouldn’t mind their page file settings, since they stuffed the server with RAM. Windows will always use the page file however, regardless of the amount of physical RAM.
The page file is located on the boot partition (or volume) by default, represented with the C:\pagefile.sys file. After a clean install the initial size of the file varies with the amount of physical RAM in the server.