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Cyclical Productivity In The United States
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Book Synopsis Cyclical Productivity in US Manufacturing (RLE: Business Cycles) by : Miguel Jimenez
Download or read book Cyclical Productivity in US Manufacturing (RLE: Business Cycles) written by Miguel Jimenez and published by Routledge. This book was released on 2015-03-27 with total page 113 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Cyclical Productivity in the United States by : Charles Steven Morris
Download or read book Cyclical Productivity in the United States written by Charles Steven Morris and published by . This book was released on 1983 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Cyclical and Secular Labor Productivity in United States Manufacturing by : Edwin Kuh
Download or read book Cyclical and Secular Labor Productivity in United States Manufacturing written by Edwin Kuh and published by . This book was released on 1965 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis New Developments in Productivity Analysis by : Charles R. Hulten
Download or read book New Developments in Productivity Analysis written by Charles R. Hulten and published by University of Chicago Press. This book was released on 2007-11-01 with total page 648 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Cyclical Productivity in Europe and the United States, Evaluating the Evidence on Returns to Scale and Input Utilizatioon by : Robert Inklaar
Download or read book Cyclical Productivity in Europe and the United States, Evaluating the Evidence on Returns to Scale and Input Utilizatioon written by Robert Inklaar and published by . This book was released on 2006 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Cyclical Productivity in Europe and the United States, Evaluating the Evidence on Returns to Scale and Input Utilization by : Robert Inklaar
Download or read book Cyclical Productivity in Europe and the United States, Evaluating the Evidence on Returns to Scale and Input Utilization written by Robert Inklaar and published by . This book was released on 2006 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Productivity in the United States by : John W. Kendrick
Download or read book Productivity in the United States written by John W. Kendrick and published by Baltimore : Johns Hopkins University Press. This book was released on 1980 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Pro-cyclical Productivity Patterns in U.S. Agriculture by : Matthew Alan Andersen
Download or read book Pro-cyclical Productivity Patterns in U.S. Agriculture written by Matthew Alan Andersen and published by . This book was released on 2005 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Three Essays on Productivity (RLE: Business Cycles) by : Mark J. Lasky
Download or read book Three Essays on Productivity (RLE: Business Cycles) written by Mark J. Lasky and published by Routledge. This book was released on 2015-03-27 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt: The behaviour of US productivity since this book was originally publishedin 1994, has added new relevance to the relationship between profits and productivity. In the long run, productivity growth determines the economic standard of living. This book is divided into three parts: the basis of the first is the empirical finding that, controlling for normal business cycle effects, productivity grows faster when profits have been low than otherwise. The second part discusses how to measure marginal cost using time series data and the third tests a basic assumption that productivity growth is exogenous to labour and capital.
Book Synopsis Productivity Trends in the United States by : John W. Kendrick
Download or read book Productivity Trends in the United States written by John W. Kendrick and published by Princeton [N.J.] : Princeton University Press. This book was released on 1961 with total page 696 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Cyclical Behavior of Labor Productivity in the U.S. Non-agricultural Private Economy and Manufacturing Industries by : Sheldon S. D. Cheng
Download or read book Cyclical Behavior of Labor Productivity in the U.S. Non-agricultural Private Economy and Manufacturing Industries written by Sheldon S. D. Cheng and published by . This book was released on 1976 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Labor Productivity by : Martin Neil Baily
Download or read book Labor Productivity written by Martin Neil Baily and published by . This book was released on 1996 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Increasing Returns Versus Externalities by : Michela Vecchi
Download or read book Increasing Returns Versus Externalities written by Michela Vecchi and published by . This book was released on 1996 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Cyclical Productivity with Unobserved Input Variation by : Susanto Basu
Download or read book Cyclical Productivity with Unobserved Input Variation written by Susanto Basu and published by . This book was released on 1997 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Long-Term Factors in American Economic Growth by : Stanley L. Engerman
Download or read book Long-Term Factors in American Economic Growth written by Stanley L. Engerman and published by University of Chicago Press. This book was released on 2007-11-01 with total page 898 pages. Available in PDF, EPUB and Kindle. Book excerpt: These classic studies of the history of economic change in 19th- and 20th-century United States, Canada, and British West Indies examine national product; capital stock and wealth; and fertility, health, and mortality. "A 'must have' in the library of the serious economic historian."—Samuel Bostaph, Southern Economic Journal
Book Synopsis The Importance of Reallocations in Cyclical Productivity and Returns to Scale by : Yoonsoo Lee
Download or read book The Importance of Reallocations in Cyclical Productivity and Returns to Scale written by Yoonsoo Lee and published by . This book was released on 2007 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides new evidence that estimates based on aggregate data will understate the true procyclicality of total factor productivity. I examine plant-level data and show that some industries experience countercyclical reallocations of output shares among firms at different points in the business cycle, so that during recessions, less productive firms produce less of the total output, but during expansions they produce more. These reallocations cause overall productivity to rise during recessions, and do not reflect the actual path of productivity of a representative firm over the course of the business cycle. Such an effect (sometimes called the cleansing effect of recessions) may also bias aggregate estimates of returns to scale and help explain why decreasing returns to scale are found at the industry-level data.
Book Synopsis Labor Hoarding, Inflexible Prices and Procyclical Productivity (Classic Reprint) by : Julio Rotemberg
Download or read book Labor Hoarding, Inflexible Prices and Procyclical Productivity (Classic Reprint) written by Julio Rotemberg and published by Forgotten Books. This book was released on 2017-11-25 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from Labor Hoarding, Inflexible Prices and Procyclical Productivity The phenomenon of procyclical physical productivity in the face of wars and other demand shocks has long been recognized. Businessmen have always appreciated the benefits of cyclical expansion: they are able to use their capacity more fully and so their costs per-unit fall. Countless empirical studies have demonstrated that increases in labor input over the business cycle are associated with more than proportional increases in output.1 The appropriate interpretation of the procyclicality of various productivity measures has long been a matter of debate among economists and has attracted renewed interest since the work of Hall (1987, This paper seeks to rehabilitate both theoretically and empirically an idea that has gone somewhat out of fashion-the notion that procyclical productivity regardless of how measured arises because it is costly for firms to adjust their capacity and so capacity utilization (both in terms of labor and capital) fluctuates over the business cycle. We believe that variations in the extent to which productivity is procyclical have more to do with differences in the extent of labor hoarding than with market power. Developing this line of argument also leads us to a perspective on the reasons why price often seems to exceed marginal cost in US industry which is somewhat different from Hall's. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
