Cyclical Productivity in US Manufacturing (RLE: Business Cycles) PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Cyclical Productivity in US Manufacturing (RLE: Business Cycles) PDF full book. Access full book title Cyclical Productivity in US Manufacturing (RLE: Business Cycles) by Miguel Jimenez. Download full books in PDF and EPUB format.
Author: Miguel Jimenez
Publisher: Routledge
ISBN: 1317512111
Category : Business & Economics
Languages : en
Pages : 197
Get Book Here
Book Description
This book presents several pieces of empirical work which disentangle why the standard measure of productivity growth used in macroeconomics turn out to be procyclical for American manufacturing industries. Procyclical productivity is an essential feature of business cycles because of its important implications for macroeconomic modelling. The author explains why traditional Keynesian theories of the business cycle do not explain satisfactorily why productivity is procyclical, and argues that the force of technology for generating economic cycles is much more important than that of the management or mismanagement of monetary or fiscal policies. This book is aimed at those working in empirical macroeconomics but also industrial economics.
Author: Miguel Jimenez
Publisher: Routledge
ISBN: 1317512111
Category : Business & Economics
Languages : en
Pages : 197
Get Book Here
Book Description
This book presents several pieces of empirical work which disentangle why the standard measure of productivity growth used in macroeconomics turn out to be procyclical for American manufacturing industries. Procyclical productivity is an essential feature of business cycles because of its important implications for macroeconomic modelling. The author explains why traditional Keynesian theories of the business cycle do not explain satisfactorily why productivity is procyclical, and argues that the force of technology for generating economic cycles is much more important than that of the management or mismanagement of monetary or fiscal policies. This book is aimed at those working in empirical macroeconomics but also industrial economics.
Author: Edwin Kuh
Publisher:
ISBN:
Category :
Languages : en
Pages : 12
Get Book Here
Book Description
Author: Charles R. Hulten
Publisher: University of Chicago Press
ISBN: 0226360644
Category : Medical
Languages : en
Pages : 648
Get Book Here
Book Description
The productivity slowdown of the 1970s and 1980s and the resumption of productivity growth in the 1990s have provoked controversy among policymakers and researchers. Economists have been forced to reexamine fundamental questions of measurement technique. Some researchers argue that econometric approaches to productivity measurement usefully address shortcomings of the dominant index number techniques while others maintain that current productivity statistics underreport damage to the environment. In this book, the contributors propose innovative approaches to these issues. The result is a state-of-the-art exposition of contemporary productivity analysis. Charles R. Hulten is professor of economics at the University of Maryland. He has been a senior research associate at the Urban Institute and is chair of the Conference on Research in Income and Wealth of the National Bureau of Economic Research. Michael Harper is chief of the Division of Productivity Research at the Bureau of Labor Statistics. Edwin R. Dean, formerly associate commissioner for Productivity and Technology at the Bureau of Labor Statistics, is adjunct professor of economics at The George Washington University.
Author: Sheldon S. D. Cheng
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Get Book Here
Book Description
Author: Matthew Alan Andersen
Publisher:
ISBN:
Category :
Languages : en
Pages : 386
Get Book Here
Book Description
Author: Martin Neil Baily
Publisher:
ISBN:
Category : Labor costs
Languages : en
Pages : 44
Get Book Here
Book Description
A longstanding puzzle of empirical economics is that average labor productivity declines during recessions and increases during booms. This paper provides a framework to assess the empirical importance of competing hypotheses for explaining the observed procyclicality. For each competing hypothesis we derive the implications for cyclical productivity conditional on expectations of future demand and supply conditions. The novelty of the paper is that we exploit the tremendous heterogeneity in long-run structural changes across individual plants to identify the short-run sources of procyclical productivity. Our findings favor an adjustment cost model which involves a productivity penalty for downsizing as the largest source of procyclical labor productivity.
Author: Domenico Junior Marchetti
Publisher:
ISBN:
Category :
Languages : en
Pages : 178
Get Book Here
Book Description
Author: Bernard Hall
Publisher:
ISBN:
Category : Industrial productivity
Languages : en
Pages : 386
Get Book Here
Book Description
Author: Sheldon S. D. Cheng
Publisher:
ISBN:
Category :
Languages : en
Pages : 6
Get Book Here
Book Description
Author: Susanto Basu
Publisher:
ISBN:
Category : Business cycles
Languages : en
Pages : 60
Get Book Here
Book Description
In this paper, we derive and estimate relationships governing variable utilization of capital and labor for a firm solving a dynamic cost-minimization problem. Our method allows for (i) imperfect competition, (ii) increasing returns to scale, (iii) unobserved changes in utilization, (iv) unobserved changes in technology, (v) unobserved fluctuations in the factor prices of capital and labor, (vi) unobserved fluctuations in the shadow price of output, and (vii) the non-existence of a value-added production function. We can estimate the parameters of interest without imposing specific functional forms or using restrictions from assuming the existence of a representative consumer. We find that variable capital and labor utilization explain 40-60 percent of the cyclicality of the Solow residual in U.S. manufacturing, so true technology shocks have a lower correlation with output than the RBC literature assumes. Controlling for variable utilization also eliminates the evidence for increasing returns to scale. We show that our model-based proxies for variable utilization are valid even when extending the workweek of capital potentially has two costs: a shift premium paid to workers, as well as a higher rate of depreciation. Thus, these proxies can be used under very general conditions in a wide range of empirical work.
