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Volatility and Dispersion in Business Growth Rates : Publicly Traded versus Privately Held Firms

Davis, Steven J. - 2006

We study the variability of business growth rates in the U.S. private sector from 1976 onwards. To carry out our study, we exploit the recently developed Longitudinal Business Database (LBD), which contains annual observations on employment and payroll for all U.S. businesses. Our central...

Persistent link: https://www.econbiz.de/10012466311

Labor Productivity : Structural Change and Cyclical Dynamics

Baily, Martin Neil - 1996

A longstanding puzzle of empirical economics is that average labor productivity declines during recessions and increases during booms. This paper provides a framework to assess the empirical importance of competing hypotheses for explaining the observed procyclicality. For each competing...

Persistent link: https://www.econbiz.de/10012473356

Machine Replacement and the Business Cycle : Lumps and Bumps

Cooper, Russell - 1995

This paper explores cyclical fluctuations in investment due to discrete changes in the plant's stock of capital. To do … characterize the relationship between lumpy investment and the state of the aggregate economy. Our theoretical results are … supplemented by numerical and empirical analyses of the dynamics of lumpy investment at the plant level and the associated …

Persistent link: https://www.econbiz.de/10012473615

The Aggregate Implications of Machine Replacement : Theory and Evidence

Cooper, Russell - 1990

This paper studies an economy in which producers must 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. We also explore the spillover effects of...

Persistent link: https://www.econbiz.de/10012475492