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Author : Domenico Marchetti
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.F/5 ( download)
Download or read book Procyclical Productivity, Externalities and Labor Hoarding written by Domenico Marchetti and published by . This book was released on 1994 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Domenico Junior Marchetti
Publisher :
ISBN 13 :
Total Pages : 34 pages
Book Rating : 4.:/5 (12 download)
Download or read book Procyclical Productivity, Externalities and Labor Hoarding written by Domenico Junior Marchetti and published by . This book was released on 1994 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Domenico Junior Marchetti
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (535 download)
Download or read book Procyclical Productivity, Externalities and Labour Hoarding written by Domenico Junior Marchetti and published by . This book was released on 1994 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Julio Rotemberg
Publisher :
ISBN 13 :
Total Pages : 64 pages
Book Rating : 4.3/5 ( download)
Download or read book Labor Hoarding, Inflexible Prices and Procyclical Productivity written by Julio Rotemberg and published by . This book was released on 1988 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hall has pointed out that, when there is perfect competition and price flexibility, labor hoarding alone will not induce the Solow residual measured using labor's share in revenues to be procyclical. We show that, even with perfect competition, a small amount of price rigidity - we assume firms must set price slightly before the level of demand becomes known - makes the extent of procyclical productivity depend mainly on the extent of labor hoarding. We show that indeed, whether productivity is measured via the Solow method using labor's share in revenues or using other methods, it tends to be more procyclical in industries and in nations where labor hoarding is more important.
Author : Julio Rotemberg
Publisher : Forgotten Books
ISBN 13 : 9780331900910
Total Pages : 52 pages
Book Rating : 4.9/5 (9 download)
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.
Author : Argia M. Sbordone
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 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 1998 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates whether procyclical productivity is due to cyclical variations in the rate of utilization of labor or to technological externalities. By looking at the relation between sectoral productivity and the level of aggregate activity, empirical evidence is presented to distinguish the two hypotheses. Analysis of two-digit U.S. manufacturing industries shows that sectoral productivity is more closely related to the rate of change of aggregate activity than to its level. This result is consistent with the interpretation that cyclical productivity is due to cyclical variations in the rate of utilization of labor, which responds to expected future industry conditions. Aggregate variables in production-function regressions have therefore the role of forecasting variables for future industry conditions.
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 : Michela Vecchi
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Increasing Returns, Labour Utilization and Externalities written by Michela Vecchi and published by . This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates procyclical productivity and attempts to discriminate among several competing explanations. The study focuses on the United States and Japan, since the different industrial relations in these two economies serve to cast a sharper light on the procyclical productivity debate. Labour hoarding, evaluated through the introduction of a labour utilization proxy, proves to be an important influence. The interpretation of the role of external economies remains an open issue.
Author : Robert S. Chirinko
Publisher :
ISBN 13 :
Total Pages : 140 pages
Book Rating : 4.3/5 ( download)
Download or read book Non-convexities, Labor Hoarding, Technology Shocks, and Procyclical Productivity written by Robert S. Chirinko and published by . This book was released on 1993 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Julio J. Rotemberg
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)
Download or read book Labor hoarding, inflexible prices and procyclical productivity written by Julio J. Rotemberg and published by . This book was released on 1988 with total page 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 : 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 : 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 : 1317512103
Total Pages : 113 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 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.
Author : Lucas Navarro
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.:/5 (318 download)
Download or read book Procyclical Productivity written by Lucas Navarro and published by . This book was released on 2001 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Alex Cukierman
Publisher : MIT Press
ISBN 13 : 9780262031943
Total Pages : 430 pages
Book Rating : 4.0/5 (319 download)
Download or read book Political Economy, Growth, and Business Cycles written by Alex Cukierman and published by MIT Press. This book was released on 1992 with total page 430 pages. Available in PDF, EPUB and Kindle. Book excerpt: These original contributions by some of today's leading macroeconomists and political economists explore a broad spectrum of social, political, and technological variables that encourage or impede economic growth. What political and economic factors stimulate growth and make an economy expand? These original contributions by some of today's leading macroeconomists and political economists explore a broad spectrum of social, political, and technological variables that encourage or impede economic growth. Topics range from economic reform and price flexibility to the economic effects of political coups and include both theoretical analysis and empirical results.During the past decade, economists have seen important new developments linking growth and business cycles to government policy. These contributions provide a clear understanding of these processes and their effect in shaping economic policy. They look at the welfare side of economics and offer strong economic models to explain the connection between social policies and economic growth. For example, John Londregan and Keith Poole address the economic effects of political coups, Torsten Persson and Guido Tabellini explore the question of whether inequality is harmful for growth, and Stephen Parente and Edward Prescott look at the role of technology adoption in stimulating growth.The essays cover a wide range of approaches. Several focus on the interaction between growth and the choice of policy, where policy reacts to economic and distributional considerations through a majority rule process. Others take the policy as given and focus on the empirical estimation of the speed of convergence of rates of growth across states and regions and the importance of externalities and knowledge spillovers for rates of growth. Essays about the business cycle fall into two broad categories. One, arising from the new political economy tradition, examines the effects of elections and price decontrols on the business cycle. The other explores the implications of optimal economic policies in a representative agent framework for the cyclical behavior of the economy.
Author : Argia M. Sbordone
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.:/5 (318 download)
Download or read book Cyclical Productivity in a Model of Labor Hoarding written by Argia M. Sbordone and published by . This book was released on 1994 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
