A Fast Literature Search Engine based on top-quality journals, by Dr. Mingze Gao.
- Topic classification is ongoing.
- Please kindly let me know [mingze.gao@mq.edu.au] in case of any errors.
Your search
Results 17 resources
-
This paper contrasts the dynamic properties of an imperfectly competitive economy with a representative agent, real business cycle model. For both economies, inventories are the important dynamic linkage. The predictions of these models with regards to the comovement of employment across sectors may differ. Empirical evidence on the comovement of employment over the business cycle is consistent with the model of imperfect competition with inventory holdings. Copyright 1990 by American Economic Association.
-
The authors study an economy in which producers incur resource costs to replace depreciated machines. The process of costly replacement and depreciation creates endogenous fluctuations in productivity, employment, and output of a single producer. The authors explore the spillover effects of machine replacement on other sectors of the economy and provide conditions for synchronized machine replacement by multiple independent producers. The implications of their model are generally consistent with observed monthly output, employment, and productivity fluctuations in automobile plants. Synchronization of retooling across plants within the auto industry is widespread, so that the fluctuations observed at the plant level have aggregate implications. Copyright 1993 by American Economic Association.
-
Theory restricts short-run job creation and destruction responses and cumulative employment and job reallocation responses to allocative and aggregate shocks. We formulate these restrictions and implement them for postwar data on U.S. manufacturing. Allocative shocks are the main driving force behind cyclical movements in job reallocation, but their contribution to employment fluctuations varies greatly across alternative identification assumptions. Also, the data compel one or both of the following inferences: aggregate shocks greatly alter the shape and not just the mean of the cross-sectional density of employment growth rates; allocative shocks cause short-run reductions in aggregate employment.
-
This paper explores investment fluctuations due to discrete changes in a plant's capital stock. The resulting aggregate investment dynamics are surprisingly rich, reflecting the interaction between a replacement cycle, the cross-sectional distribution of the age of the capital stock, and an aggregate shock. Using plant-level data, lumpy investment is procyclical and more likely for older capital. Further, the predicted path of aggregate investment that neglects vintage effects tracks actual aggregate investment reasonably well. However, ignoring fluctuations in the cross-sectional distribution of investment vintages can yield predictable nontrivial errors in forecasting changes in aggregate investment.
-
We investigate the nature of selection and productivity growth in industrieswhere we observe producer-level quantities and prices separately. We showthere are important differences between revenue and physical productivity.Because physical productivity is inversely correlated with price while revenueproductivity is positively correlated with price, previous work linking (revenue-based) productivity to survival confounded the separate and opposingeffects of technical efficiency and demand on survival, understating the trueimpacts of both. Further, we find that young producers charge lower pricesthan incumbents. Thus the literature understates new producers' productivityadvantages and entry's contribution to aggregate productivity growth. (JELD24, L11, L25)
-
This paper investigates the effect of idiosyncratic (firm-level) policydistortions on aggregate outcomes. Exploiting harmonized firm‑leveldata for a number of countries, we show that there is substantialand systematic cross‑country variation in the within-industrycovariance between size and productivity. We develop a model inwhich heterogeneous firms face adjustment frictions (overhead laborand quasi-fixed capital) and distortions. The model can be readilycalibrated so that variations in the distribution of distortions allowmatching the observed cross-country moments. We show that thedifferences in the distortions that account for the size-productivitycovariance imply substantial differences in aggregate performance.(JEL D24, L25, O47)
Explore
Journals
Resource type
- Journal Article (17)
Publication year
-
Between 1900 and 1999
(8)
-
Between 1980 and 1989
(2)
- 1985 (2)
- Between 1990 and 1999 (6)
-
Between 1980 and 1989
(2)
-
Between 2000 and 2024
(9)
- Between 2000 and 2009 (2)
- Between 2010 and 2019 (6)
-
Between 2020 and 2024
(1)
- 2020 (1)