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Author : Göran Eriksson
Publisher :
ISBN 13 :
Total Pages : 25 pages
Book Rating : 4.:/5 (185 download)
Download or read book Production Technology and Dynamic Factor Demand written by Göran Eriksson and published by . This book was released on 1987 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : H. M. M. Peeters
Publisher :
ISBN 13 :
Total Pages : 27 pages
Book Rating : 4.:/5 (378 download)
Download or read book A Comparison of Production Smoothing Model and a Dynamic Factor Demand Model with Inventories written by H. M. M. Peeters and published by . This book was released on 1994* with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : M. Ishaq Nadiri
Publisher :
ISBN 13 :
Total Pages : 109 pages
Book Rating : 4.:/5 (846 download)
Download or read book Dynamic Factor Demand Models and Production Analysis written by M. Ishaq Nadiri and published by . This book was released on 1999 with total page 109 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 : M. Ishaq Nadiri
Publisher :
ISBN 13 :
Total Pages : 68 pages
Book Rating : 4.3/5 ( download)
Download or read book Dynamic Factor Demand Models, Productivity Measurement, and Rates of Return written by M. Ishaq Nadiri and published by . This book was released on 1989 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: Prucha and Nadiri (1982,1986,1988) introduced a methodology to estimate systems of dynamic factor demand that allows for considerable flexibility in both the choice of the functional form of the technology and the expectation formation process. This paper applies this methodology to estimate the production structure, and the demand for labor, materials, capital and R & D by the U.S. Bell System. The paper provides estimates for short-, intermediate- and long-run price and output elasticities of the inputs, as well as estimates on the rate of return on capital and R & D. The paper also discusses the issue of the measurement of technical change if the firm is in temporary rather than long-run equilibrium and the technology is not assumed to be linear homogeneous The paper provides estimates for input and output based technical change as well as for returns to scale. Furthermore, the paper gives a decomposition of the traditional measure of total factor productivity growth.
Author : Ingmar R. Prucha
Publisher :
ISBN 13 :
Total Pages : 109 pages
Book Rating : 4.:/5 (416 download)
Download or read book Dynamic Factor Demand Models and Productivity Analysis written by Ingmar R. Prucha and published by . This book was released on 1999 with total page 109 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we discuss recent advances in modeling and estimating dynamic factor demand models, and review the use of such models in analyzing the production structure, the determinants of variable and quasi-fixed factors, and productivity growth. The paper also discusses the traditional approach to productivity analysis based on the Divisia index number methodology. Both approaches may be seen as being complementary. The conventional index number approach will measure the rate of technical change correctly if certain assumptions about the underlying technology of the firm and output and input markets hold. The approach is appealing in that it can be easily implemented. However, if the underlying assumptions do not hold, then the conventional index number approach will, in general, yield biased estimates of technical change. The econometric approach based on general dynamic factor demand models allows for a careful testing of various features of a postulated model. Furthermore it not only provides a framework to estimate technical change, but can also yield a rich set of critical information on the structure of production, the dynamics of investment in physical and R&D capital, the effects of spillovers, the depreciation rate of capital, the impact of taxes, expectations, etc. The paper provides both a review of recent methodology developed for the specification and estimation of dynamic factor demand models, as well as a review of recent applications. The paper also explores in terms of a Monte Carlo study how estimates of important characteristics of the production process can be affected by model misspecification. The study suggests that characteristics of the production structure such as scale and technical change are sensitive to model misspecification, and that adopting a simple specification for reasons of convenience may result in serious biases
Author : Werner Smolny
Publisher : Springer Science & Business Media
ISBN 13 : 3642515126
Total Pages : 248 pages
Book Rating : 4.6/5 (425 download)
Download or read book Dynamic Factor Demand in a Rationing Context written by Werner Smolny and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: A macroeconomic disequilibrium model is developed for the Federal Republic of Germany. Starting with a microeconomic model of firm's behaviour, the optimal dynamic adjustment of employment and investment is derived. The model of the firm is complemented by an explicite aggregation procedure which allows to derive macroeconomic relations. The model is estimated with macroeconomic data for the Federal Republic of Germany. An important feature is the consistent introduction of dynamic adjustment into a model of the firm. A new method is the particular approach of a delayed adjustment of employment and investment. The estimation results show significant underutilizations of labour and capital and indicate the importance of supply constraints for imports and exports. As the most prominent result, they reveal the importance of the slow adjustment of employment and investment for the macroeconomic situation in Germany and especially for the persistence of high unemployment in the eighties.
Author : Bárbara J. Robles
Publisher :
ISBN 13 :
Total Pages : 274 pages
Book Rating : 4.:/5 (239 download)
Download or read book Financial Variables in the Production Process written by Bárbara J. Robles and published by . This book was released on 1990 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 : Ingmar R. Prucha
Publisher :
ISBN 13 :
Total Pages : 43 pages
Book Rating : 4.:/5 (254 download)
Download or read book Formulation and Estimation of Dynamic Factor Demand Equations Under Non-static Expectations written by Ingmar R. Prucha and published by . This book was released on 1982 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper proposes a discrete model of investment behavior that incorporates general nonstatic expectations with a general cost of adjustment technology. The combination of these two features usually leads to a set of highly nonlinear first order conditions for the optimal input plan; the expectational variables work in addition as shift parameters. Consequently, an explicit analytic solution for derived factor demand is in general difficult if not impossible to obtain. Simplifying assumptions on the technology and/or the form of the expectational process are therefore typically made in the literature. In this paper we develop an algorithm for the estimation of flexible forms of derived factor demand equations within the above general setting. By solving the first order conditions numerically at each iteration step this algorithm avoids the need for an explicit analytic solution. In particular we consider a model with a finite planning horizon. The relationship between the optimal input plans of the finite and infinite planning horizon model is explored. Due to the discrete setting of the model the forward looking behavior of investment is brought out very clearly. As a byproduct a consistent framework for the use of anticipation data on planned investment is developed.
Author : Peter Eric Rossi
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (753 download)
Download or read book Comparison of Dynamic Factor Demand Models written by Peter Eric Rossi and published by . This book was released on 1987 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Rainer Andergassen
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (18 download)
Download or read book Dynamic Factor Demand Models, Growth and Economic Fluctuations written by Rainer Andergassen and published by . This book was released on 2002 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Edward Mark Matluck
Publisher :
ISBN 13 :
Total Pages : 162 pages
Book Rating : 4.:/5 (253 download)
Download or read book Factor demand functions in the manufacturing and nonmanufacturing industries written by Edward Mark Matluck and published by . This book was released on 1974 with total page 162 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : M. Ishag Nadiri
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.:/5 (129 download)
Download or read book Dynamic factor demand models, productivity measurement and rates of return written by M. Ishag Nadiri and published by . This book was released on 1989 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Nabaz T Khayyat
Publisher : Springer
ISBN 13 : 9401799539
Total Pages : 206 pages
Book Rating : 4.4/5 (17 download)
Download or read book Energy Demand in Industry written by Nabaz T Khayyat and published by Springer. This book was released on 2015-08-07 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book presents a stochastic analysis based on production risk and application of this method in the industrial sector under production risk where energy use is an input factor. Using South Korea as a case study, the book empirically models energy demand at the industrial level and analyzes the results to identify key determinants of energy demand, productions level, productions risk and energy usage efficiency. Particular attention is paid to the factors that enhance production risk or increase variations in energy input during production. A dynamic panel model is specified and applied to 25 Korean industrial sectors over the period 1970-2007. The determinants of energy usage are identified and their effects in the form of elasticities of energy usage are estimated. In addition the structural changes in the energy demand pattern are explored. Stochastic production technology is applied to create two primary models: A production model where the energy usage is a determinant of output and an energy demand model based on an inverted factor demand model where demand is a key determinant of the level of energy usage. The findings reveal that: First, there are large variations in the degree of overuse or inefficiency in energy usage among the individual industries and over time; second, ICT (information and communication technology) capital and labor are substituting energy; third, ICT capital and value added services are two input factors decreasing the variability of energy demand while non-ICT capital, material and labor are increasing the variability of energy demand. Finally, the results suggest that technical progress contributes more to the increase of mean of energy demand than to the reduction of the level of risk. An emerging recommendation is that industries increase the level of ICT capital and digitalization and invest more in R&D activities and value added services to reduce the uncertainty related to their demand for energy. This study forms the structure of the demand for energy under stochastic production risk for the South Korean industrial sector. Public research programs aimed at the industrial sector should be concerned about both mean and risk properties in research on new technologies and in the investigation of possible alternative energy inputs. This book describes the state of the art in energy usage analysis and production risk, applying factor requirement methodology. It will be of use as a main or supplementary text in the teaching of advanced graduate courses but also as a reference for those working on empirically advanced research. The book is an important addition to the existing literature on industrial development, with its focus on energy as a core production input.
Author : Elisabeth Hsu
Publisher : Cambridge University Press
ISBN 13 : 9780521645423
Total Pages : 726 pages
Book Rating : 4.6/5 (454 download)
Download or read book The Transmission of Chinese Medicine written by Elisabeth Hsu and published by Cambridge University Press. This book was released on 1999-11-11 with total page 726 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is one of the first studies of traditional medical education in an Asian country. Conducting extensive fieldwork in Kunming, the capital of Yunnan Province in the People's Republic of China, Elisabeth Hsu became the disciple of, a Qigong master a scholarly private practitioner, who almost wordlessly conveys esoteric knowledge and techniques; attended seminars given by a senior Chinese doctor, an acupuncturist and masseur, who plunges his followers into the study of arcane medical classics, and studied with students at the Yunnan College of Traditional Chinese Medicine, where the standardised knowledge of official Chinese medicine is inculcated. Dr Hsu compares the theories and practices of these different Chinese medical traditions and shows how the same technical terms may take on different meanings in different contexts. This is a fascinating, insider's account of traditional medical practices, which brings out the way in which the context of instruction shapes knowledge.
Author : Marga Peeters
Publisher :
ISBN 13 :
Total Pages : 20 pages
Book Rating : 4.:/5 (378 download)
Download or read book A Comparison of a Production Smoothing Model and a Dynamic Factor Demand Model with Inventories written by Marga Peeters and published by . This book was released on 1997 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:
