Asphjell, Magne Krogstad; Letterie, Wilko; Nilsen, … - Institute for the Study of Labor (IZA) - 2010
subject to nonconvex adjustment costs. The dataset concerns Norwegian plants operating in manufacturing industries and it … covers the period 1993-2005. The estimates indicate that it is advantageous to adjust the stock of labour and capital … simultaneously. The cost advantage of simultaneous changes is small for capital but is large for labour. The empirical results …