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Author : Wilko Letterie.
Publisher :
ISBN 13 :
Total Pages : 15 pages
Book Rating : 4.:/5 (223 download)
Download or read book Interrelated Factor Demand with Nonconvex Adjustment Costs written by Wilko Letterie. and published by . This book was released on 2008 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Wilko H. Letterie
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Interrelated Factor Demand with Nonconvex Adjustment Costs written by Wilko H. Letterie and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we develop a model to describe a firm's demand for two production factors which is subject to the presence of nonconvex adjustment costs. In our model simultaneous adjustment of these two production factors may either increase or decrease the total costs incurred by the firm. The magnitude of this change in total costs ultimately determines the likelihood of joint adjustment. We also show that the importance of interrelation is suppressed by large fixed costs.
Author : Robert E. Hall
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Measuring Factor Adjustment Costs written by Robert E. Hall and published by . This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: I estimate adjustment costs for labor and capital from the Euler equations for factor demand. For both factors, I find relatively strong evidence against substantial adjustment costs. My estimates use annual data from two-digit industries. I investigate the potential effects of three types of specification error: (1) aggregation over time, (2) aggregation over firms with heterogeneous demand shocks, and (3) estimation of a convex adjustment-cost technology in the presence of non-convex discrete adjustment costs. I find that the likely biases from these specification errors are relatively small. My results support the view that rents arising from adjustment costs are relatively small and are not an important part of the explanation of the large movements of the values of corporations in relation to the reproduction costs of their capital.
Author : P. Artus
Publisher : Elsevier
ISBN 13 : 1483295338
Total Pages : 319 pages
Book Rating : 4.4/5 (832 download)
Download or read book Investment and Factor Demand written by P. Artus and published by Elsevier. This book was released on 2016-05-07 with total page 319 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first part of the book presents the estimation of traditional models of investment, their interpretation in the light of the disequilibrium theory and their use in evaluating the economic policies implemented during the seventies. The issue of the best representation of the production technology is also addressed. The second part analyses the interdependance of the decisions of investment, employment and consumption of raw materials using simultaneous estimations of factor demand equations, as well as the dynamic adjustment costs firms are facing. The last section illustrates the most recent theories and econometric methods: investment models with several regimes taking into account sales, employment and financing constraints, and the introduction of the uncertainty on future sales.
Author : Daniel S. Hamermesh
Publisher :
ISBN 13 :
Total Pages : 50 pages
Book Rating : 4.:/5 (9 download)
Download or read book Adjustment Costs in Factor Demand written by Daniel S. Hamermesh and published by . This book was released on 1996 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : D. S. Hamermesh
Publisher :
ISBN 13 :
Total Pages : 41 pages
Book Rating : 4.:/5 (692 download)
Download or read book Adjustment Costs in Factor Demand written by D. S. Hamermesh and published by . This book was released on 1994 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : John F. Kennan
Publisher :
ISBN 13 :
Total Pages : 95 pages
Book Rating : 4.:/5 (249 download)
Download or read book Theories of factor demand of a competitivie firm with adjustment costs and stochastic prices written by John F. Kennan and published by . This book was released on 1973 with total page 95 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Tommy Lundgren
Publisher :
ISBN 13 :
Total Pages : 12 pages
Book Rating : 4.:/5 (186 download)
Download or read book A Flexible Specification of Adjustment Costs in Dynamic Factor Demand Models written by Tommy Lundgren and published by . This book was released on 2001 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Giuseppe Bertola
Publisher :
ISBN 13 :
Total Pages : 340 pages
Book Rating : 4.:/5 (2 download)
Download or read book Adjustment Costs and Dynamic Factor Demands written by Giuseppe Bertola and published by . This book was released on 1988 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : John Kennan
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (718 download)
Download or read book Theories of Factor Demand of a Competitive Firm with Adjustment Costs and Stochastic Prices written by John Kennan and published by . This book was released on 1973 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Giorgio Galeazzi
Publisher : Edward Elgar Publishing
ISBN 13 :
Total Pages : 392 pages
Book Rating : 4.F/5 ( download)
Download or read book Dynamic Labor Demand and Adjustment Costs written by Giorgio Galeazzi and published by Edward Elgar Publishing. This book was released on 1992 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: Comprises a collection of essays by various authors on the subject of labour demand and adjusted labour costs which were previously published between 1962 and 1990.
Author : Antonin Bergeaud
Publisher :
ISBN 13 :
Total Pages : 66 pages
Book Rating : 4.:/5 (13 download)
Download or read book Adjustment Costs and Factor Demand written by Antonin Bergeaud and published by . This book was released on 2017 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: Adjustment costs impair the optimal allocation of production factor across firms. In this paper, we use the cost associated with corporate relocation to explore the effect of the adjustment costs of the premises size on factor demand. We rely on the tax on realized capital gains on real estate asset, which entails varying real estate adjustment costs across firms, to empirically study the effect of these frictions on firms' behaviour. We develop a general equilibrium model, with heterogeneous firms, that sheds light on the implication of the level of the fixed costs associated with the adjustment of real estate on the change in firms' labor demand following productivity shocks. This model predicts that employment growth of firms facing positive productivity shocks shrinks with the level of the frictions. Confronting these results using French firm-level data over the period 1994-2013, we find that higher adjustment costs constrain relocation and reduce job creation of the most dynamic firms. The highlighted frictions have noticeable macroeconomic effects.
Author : Robert S. Pindyck
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.3/5 (9 download)
Download or read book Dynamic Factor Demands Under Rational Expectations written by Robert S. Pindyck and published by . This book was released on 1982 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a dynamic model of the industrial demands for structures, equipment, and blue- and white-collar labor. Our approach is consistent with producers holding rational expectations and optimizing dynamically in the presence of adjustment costs, yet it permits generality of functional form regarding the technology. We represent the technology by atranslog input requirement function that specifies the amount of blue-collar labor (a flexible factor) the firm must hire to produce a level of output given its quantities of three quasi-fixed factors that are subject to adjustment costs: non-production (white-collar) workers, equipment, and structures.A complete description of the production structure is obtained by simultaneously estimating the input requirement function and three stochastic Euler equations.We apply an instrumental variable technique to estimate these equations using aggregate data for U.S. manufacturing. We find that as a fraction of total expenditures, adjustment costs are small in total hut large on the margin,and that they differ considerably across quasi-fixed factors. We also present short- and long-run elasticities of factor demands.
Author : V.K. Chetty
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (135 download)
Download or read book Internal Adjustment Costs of Firm-Specific Factors and the Neoclassical Theory of the Firm written by V.K. Chetty and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper considers the consequences of a two-sector vertically-integrated model of firms producing output using firm-specific capital with a second sector producing firm-specific capital by adapting raw capital purchased in the market. Analysts rarely observe each sector separately. Aggregating over both sectors produces short-run and long-run factor demand functions that appear to be perverse, but when disaggregated obey standard neoclassical properties. Adjustment costs create the appearance of static inefficiency in the presence of dynamic efficiency.
Author : Maarten Vendrik
Publisher :
ISBN 13 :
Total Pages : 104 pages
Book Rating : 4.:/5 (638 download)
Download or read book Dynamic Models of Costs of Adjustment and Interrelated Factor Demands, with an Empirical Application to the Dutch Business Sector written by Maarten Vendrik and published by . This book was released on 1985 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Maarten Vendrik
Publisher :
ISBN 13 :
Total Pages : 92 pages
Book Rating : 4.:/5 (958 download)
Download or read book Dynamic Models of Costs of Adjustment and Interrelated Factor Demands, with an Empirical Application to the Dutch Business Sector written by Maarten Vendrik and published by . This book was released on 1985 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Maarten C. Vendrik
Publisher :
ISBN 13 :
Total Pages : 92 pages
Book Rating : 4.:/5 (753 download)
Download or read book Dynamic Models of Costs of Adjustment and Interrelated Factor Demands written by Maarten C. Vendrik and published by . This book was released on 1985 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt:
