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Author : Robert J. Waldmann
Publisher :
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4.F/5 ( download)
Download or read book Interpreting Procyclical Productivity written by Robert J. Waldmann and published by . This book was released on 1992 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Argia M. Sbordone
Publisher :
ISBN 13 :
Total Pages : 37 pages
Book Rating : 4.:/5 (37 download)
Download or read book Interpreting the Procyclical Productivity of Manufacturing Sectors written by Argia M. Sbordone and published by . This book was released on 1994 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Julio Rotemberg
Publisher :
ISBN 13 : 9781330488430
Total Pages : 54 pages
Book Rating : 4.4/5 (884 download)
Download or read book Labor Hoarding, Inflexible Prices and Procyclical Productivity (Classic Reprint) written by Julio Rotemberg and published by . This book was released on 2015-06-29 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from Labor Hoarding, Inflexible Prices and Procyclical Productivity MIT and NBER and Harvard University and NBER respectively. We wish to thank Olivier Blanchard, Marc Bils, Tim Bresnahan, Dennis Carlton, Bob Hall, and Louise Sheiner for helpful discussions, Bob Gordon for generously sharing his data on man hours and output with us and Louise Sheiner for able research assistance. We also acknowledge the support of the NSF and the Sloan Foundation. 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.
Author : Charles R. Hulten
Publisher : University of Chicago Press
ISBN 13 : 0226360644
Total Pages : 648 pages
Book Rating : 4.2/5 (263 download)
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.
Author : Miguel Jimenez
Publisher : Routledge
ISBN 13 : 1317512111
Total Pages : 197 pages
Book Rating : 4.3/5 (175 download)
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 197 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.
Author : Robert James Gordon
Publisher : Cambridge University Press
ISBN 13 : 9780521531429
Total Pages : 520 pages
Book Rating : 4.5/5 (314 download)
Download or read book Productivity Growth, Inflation, and Unemployment written by Robert James Gordon and published by Cambridge University Press. This book was released on 2004 with total page 520 pages. Available in PDF, EPUB and Kindle. Book excerpt: Publisher Description
Author : Mr.JaeBin Ahn
Publisher : International Monetary Fund
ISBN 13 : 1475523580
Total Pages : 32 pages
Book Rating : 4.4/5 (755 download)
Download or read book From Firm-Level Imports to Aggregate Productivity written by Mr.JaeBin Ahn and published by International Monetary Fund. This book was released on 2016-08-05 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using the Korean manufacturing firm-level data, this paper confirms that three stylized facts on importing hold in Korea: the ratio of imported inputs in total inputs tends to be procyclical; the use of imported inputs increases productivity; and larger firms are more likely to use imported inputs. As a result, we find that firm-level import decisions explain a non-trivial fraction of aggregate productivity fluctuations in Korea over the period between 2006 and 2012. Main findings of this paper suggest a possible link between the recent global productivity slowdown and the global trade slowdown.
Author : Mr.Pau Rabanal
Publisher : International Monetary Fund
ISBN 13 : 1451875657
Total Pages : 68 pages
Book Rating : 4.4/5 (518 download)
Download or read book Technology Shocks and Aggregate Fluctuations written by Mr.Pau Rabanal and published by International Monetary Fund. This book was released on 2004-12-01 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: Our answer: Not so well. We reached that conclusion after reviewing recent research on the role of technology as a source of economic fluctuations. The bulk of the evidence suggests a limited role for aggregate technology shocks, pointing instead to demand factors as the main force behind the strong positive comovement between output and labor input measures.
Author : Ms.Valerie Cerra
Publisher : International Monetary Fund
ISBN 13 : 1513536990
Total Pages : 50 pages
Book Rating : 4.5/5 (135 download)
Download or read book Hysteresis and Business Cycles written by Ms.Valerie Cerra and published by International Monetary Fund. This book was released on 2020-05-29 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history of shocks, what economists refer to as “hysteresis,” argues for unifying the analysis of growth and cycles. In this paper, we review the recent empirical and theoretical literature that motivate this paradigm shift. The renewed interest in hysteresis has been sparked by the persistence of the Global Financial Crisis and fears of a slow recovery from the Covid-19 crisis. The findings of the recent literature have far-reaching conceptual and policy implications. In recessions, monetary and fiscal policies need to be more active to avoid the permanent scars of a downturn. And in good times, running a high-pressure economy could have permanent positive effects.
Author : Susanto Basu
Publisher :
ISBN 13 :
Total Pages : 88 pages
Book Rating : 4.:/5 (318 download)
Download or read book Why is Productivity Procyclical? written by Susanto Basu and published by . This book was released on 2000 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt: Productivity rises in booms and falls in recessions. There are four main explanations for this procyclical productivity: (i) procyclical technology shocks, (ii) widespread imperfect competition and increasing returns, (iii) variable utilization of inputs over the cycle, and (iv) resource reallocations. Recent macroeconomic literature views this stylized fact of procyclical productivity as an essential feature of business cycles because each explanation has important implications for macroeconomic modeling. In this paper, we discuss empirical methods for assessing the importance of these four explanations. We provide microfoundations for our preferred approach of estimating an explicitly first-order approximation to the production function, using a theoretically motivated proxy for utilization. When we implement this approach, we find that variable utilization and resource reallocations are particularly important in explaining procyclical productivity. We also argue that the reallocation effects that we identify are not biases' they reflect changes in an economy's ability to produce goods and services for final consumption from given primary inputs of capital and labor. Thus, from a normative viewpoint, reallocations are significant for welfare; from a positive viewpoint, they constitute potentially important amplification and propagation mechanisms for macroeconomic modeling.
Author : Catherine J. Morrison Paul
Publisher : Springer Science & Business Media
ISBN 13 : 0792384032
Total Pages : 383 pages
Book Rating : 4.7/5 (923 download)
Download or read book Cost Structure and the Measurement of Economic Performance written by Catherine J. Morrison Paul and published by Springer Science & Business Media. This book was released on 1999-02-28 with total page 383 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cost Structure and the Measurement of Economic Performance is designed to provide a comprehensive guide for students, researchers or consultants who wish to model, construct, interpret, and use economic performance measures. The topical emphasis is on productivity growth and its dependence on the cost structure. The methodological focus is on application of the tools of economic analysis - the `thinking structure' provided by microeconomic theory - to measure technological or cost structure, and link it with market and regulatory structure. This provides a rich basis for evaluation of economic performance and its determinants. The format of the book stresses topics or questions of interest rather than the theoretical tools for analysis. Traditional productivity growth modeling and measurement practices that result in a productivity residual often called the `measure of our ignorance' are initially overviewed, and then the different aspects of technological, market and regulatory structure that might underlie this residual are explored. The ultimate goal is to decompose or explain the residual, by modeling and measuring a multitude of impacts that determine the economic performance of firms, sectors, and economies. The chapters are organized with three broad goals in mind. The first is to introduce the overall ideas involved in economic performance measurement and traditional productivity growth analysis. Issues associated with different types of (short and long run, internal and external) cost economies, market and regulatory impacts, and other general cost efficiencies that might impact these measures are then explored. Finally, some of the theoretical, data construction and econometric tools necessary to justify and implement these models are emphasized.
Author : Domenico Marchetti
Publisher : Taylor & Francis
ISBN 13 : 9780815327226
Total Pages : 108 pages
Book Rating : 4.3/5 (272 download)
Download or read book Productivity and the Business Cycle written by Domenico Marchetti and published by Taylor & Francis. This book was released on 1997 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: Three essays on the ways in which business cycles affect productivity review and criticize previous research, propose an dynamic model using gross output data, and provide a decomposition of industrial productivity growth in Polish manufacturing 1992-93 indicating the importance of structural effects. Annotation copyrighted by Book News, Inc., Portland, OR
Author : Masanao Aoki
Publisher : Cambridge University Press
ISBN 13 : 1107634202
Total Pages : 353 pages
Book Rating : 4.1/5 (76 download)
Download or read book Reconstructing Macroeconomics written by Masanao Aoki and published by Cambridge University Press. This book was released on 2011-08-29 with total page 353 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book, the authors reconceptualize existing macroeconomics by treating equilibria as statistical distributions, not as fixed points.
Author : Martín Uribe
Publisher : Princeton University Press
ISBN 13 : 0691158770
Total Pages : 646 pages
Book Rating : 4.6/5 (911 download)
Download or read book Open Economy Macroeconomics written by Martín Uribe and published by Princeton University Press. This book was released on 2017-04-04 with total page 646 pages. Available in PDF, EPUB and Kindle. Book excerpt: A cutting-edge graduate-level textbook on the macroeconomics of international trade Combining theoretical models and data in ways unimaginable just a few years ago, open economy macroeconomics has experienced enormous growth over the past several decades. This rigorous and self-contained textbook brings graduate students, scholars, and policymakers to the research frontier and provides the tools and context necessary for new research and policy proposals. Martín Uribe and Stephanie Schmitt-Grohé factor in the discipline's latest developments, including major theoretical advances in incorporating financial and nominal frictions into microfounded dynamic models of the open economy, the availability of macro- and microdata for emerging and developed countries, and a revolution in the tools available to simulate and estimate dynamic stochastic models. The authors begin with a canonical general equilibrium model of an open economy and then build levels of complexity through the coverage of important topics such as international business-cycle analysis, financial frictions as drivers and transmitters of business cycles and global crises, sovereign default, pecuniary externalities, involuntary unemployment, optimal macroprudential policy, and the role of nominal rigidities in shaping optimal exchange-rate policy. Based on courses taught at several universities, Open Economy Macroeconomics is an essential resource for students, researchers, and practitioners. Detailed exploration of international business-cycle analysis Coverage of financial frictions as drivers and transmitters of business cycles and global crises Extensive investigation of nominal rigidities and their role in shaping optimal exchange-rate policy Other topics include fixed exchange-rate regimes, involuntary unemployment, optimal macroprudential policy, and sovereign default and debt sustainability Chapters include exercises and replication codes
Author : Ashoka Mody
Publisher : Routledge
ISBN 13 : 1135990794
Total Pages : 375 pages
Book Rating : 4.1/5 (359 download)
Download or read book Foreign Direct Investment and the World Economy written by Ashoka Mody and published by Routledge. This book was released on 2007-01-24 with total page 375 pages. Available in PDF, EPUB and Kindle. Book excerpt: Asking the question of whether Foreign Direct Investment (FDI) is 'integrating' the world economy, this comprehensive volume consists of an overview of current FDI research. While the term 'integrating' is often used, the real test should be whether FDI is instrumental in bringing per capita incomes across countries closer together. By this yardstick, the answer is no. The forces driving FDI are strong; they lead it to flow to countries with attractive investment conditions and, moreover, investors have a tendency to follow each other. It is in such settings that FDI appears to have the most beneficial effect in raising growth. Written by an authority in this area, Ashoka Mody, this book will greatly appeal to all international and development economists.
Author : Martin H. Wolfson
Publisher : Oxford University Press
ISBN 13 : 0199324077
Total Pages : 784 pages
Book Rating : 4.1/5 (993 download)
Download or read book The Handbook of the Political Economy of Financial Crises written by Martin H. Wolfson and published by Oxford University Press. This book was released on 2013-01-07 with total page 784 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Great Financial Crisis that began in 2007 reminds us with devastating force that financial instability and crises are endemic to capitalist economies, and that it is only strong and dynamically-changing financial regulations that can keep the damage caused by these crises within bounds. The international financial system and individual national economies, including that of the United States, are suffering from the aftermath of the worst financial crisis since the Great Depression. Economists are struggling to understand the origins and implications of the crisis. The Handbook of the Political Economy of Financial Crises uses a political economy theoretical framework to analyze the crisis. After an opening chapter that describes the dimensions of the current crisis, the next section provides relevant theoretical frameworks. Subsequent sections apply these theoretical frameworks to analyze the background, dimensions, and implications of the crisis for the world economy. Leading scholars push forward our understanding of how and why our international and domestic economies are susceptible to financial breakdown and what can be done to mitigate this problem in the future. The methodology throughout applies theoretical concepts in the context of an historical and institutional understanding of the real world. By emphasizing the historical and institutional aspects of financial crises, the authors advance economic knowledge and provide insights into how we can manage our financial system to improve the lives of ordinary people.
Author : Olivier Blanchard
Publisher : MIT Press
ISBN 13 : 9780262521659
Total Pages : 392 pages
Book Rating : 4.5/5 (216 download)
Download or read book NBER Macroeconomics Annual 1991 written by Olivier Blanchard and published by MIT Press. This book was released on 1991 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the sixth in a series of annuals from the National Bureau of EconomicResearch that are designed to stimulate research on problems in applied economics, to bring frontiertheoretical developments to a wider audience, and to accelerate the interaction between analyticaland empirical research in macroeconomics.Olivier Blanchard and Stanley Fischer are both Professorsof Economics at MIT.Contents: Pitfalls and Opportunities: What Macroeconomists Should Know aboutUnit Roots, John Y. Campbell and Pierre Perron. Markups and the Business Cycle, Julio Rotemberg andMichael Woodford. Privatization in Eastern Europe: Incentives and the Economics of Transition, JeanTirole. The EMS, the EMU, and the Transition to a Common Currency, Kenneth A. Froot and Kenneth S.Rogoff. Growth, Macroeconomics, and Development, Stanley S. Fischer. Recessions as Reorganizations,Robert E. Hall.
