Narrow search
Showing 1 - 10 of 111
Cover Image
Entry, Exit, Firm Dynamics, and Aggregate Fluctuations
Clementi, Gian Luca - 2013
Do firm entry and exit play a major role in shaping aggregate dynamics? Our answer is yes. Entry and exit propagate the effects of aggregate shocks. In turn, this results in greater persistence and unconditional variation of aggregate time-series. These are features of the equilibrium allocation...
Persistent link: https://www.econbiz.de/10012459446
Cover Image
Estimating Production Functions Using Inputs to Control for Unobservables
Levinsohn, James - 2000
We introduce a new method for conditioning out serially correlated unobserved shocks to the production technology by … between input levels and the unobserved firm-specific productivity process. We prove that like investment, intermediate inputs … (those inputs which are typically subtracted out in a value-added production function) can also solve this simultaneity …
Persistent link: https://www.econbiz.de/10012470924
Cover Image
Revisiting Capital-Skill Complementarity, Inequality, and Labor Share
Ohanian, Lee E.; Orak, Musa; Shen, Shihan - National Bureau of Economic Research - 2021
This paper revisits capital-skill complementarity and inequality, as in Krusell, Ohanian, Rios-Rull and Violante (KORV, 2000). Using their methodology, we study how well the KORV model accounts for more recent data, including the large changes in labor's share of income that were not present in...
Persistent link: https://www.econbiz.de/10012510626
Cover Image
Alternative Compensation Arrangements and Productive Efficiency in Partnerships : Evidence from Medical Group Practice
Gaynor, Martin - 1987
Although the role of the services sector in the economy has grown increasingly large, and partnerships are a prevalent form of organization in this sector, relatively little is known about the behavior and performance of these firms. In this paper an attempt is made to fill that gap by...
Persistent link: https://www.econbiz.de/10012476899
Cover Image
The Microeconomic Foundations of Aggregate Production Functions
Baqaee, David - 2018
Aggregate production functions are reduced-form relationships that emerge endogenously from input-output interactions between heterogeneous producers and factors in general equilibrium. We provide a general methodology for analyzing such aggregate production functions by deriving their first-...
Persistent link: https://www.econbiz.de/10012480944
Cover Image
Does EdTech Substitute for Traditional Learning? Experimental Estimates of the Educational Production Function
Bettinger, Eric - 2020
have direct implications for the rapidly expanding use of educational technology worldwide and its continued substitution …
Persistent link: https://www.econbiz.de/10012481924
Cover Image
Some Unpleasant Markup Arithmetic : Production Function Elasticities and their Estimation from Production Data
Bond, Steve - 2020
The ratio estimator of a firm's markup is the ratio of the output elasticity of a variable input to that input's cost share in revenue. This note raises issues that concern identification and estimation of markups using the ratio estimator. Concerning identification: (i) if the revenue...
Persistent link: https://www.econbiz.de/10012481959
Cover Image
O-Ring Production Networks
Demir, Banu; Fieler, Ana Cecilia; Xu, Daniel Yi; Yang, … - National Bureau of Economic Research - 2021
We study a production network where quality choices are interconnected across firms. High-quality firms are skill intensive and trade more with other high-quality firms. Using data from Turkish firms, we document strong assortative matching of skills in the production network. A firm-specific...
Persistent link: https://www.econbiz.de/10012482649
Cover Image
Using Monotonicity Restrictions to Identify Models with Partially Latent Covariates
Bang, Minji; Gao, Wayne Yuan; Postlewaite, Andrew; … - National Bureau of Economic Research - 2021
This paper develops a new method for identifying econometric models with partially latent covariates. Such data structures arise naturally in industrial organization and labor economics settings where data are collected using an "input-based sampling" strategy, e.g., if the sampling unit is one...
Persistent link: https://www.econbiz.de/10012482652
Cover Image
Innovation and Welfare : Results from Joint Estimation of Production and Demand Functions
Jaumandreu, Jordi - 2010
This paper develops a simple framework to estimate the parameters of the production function together with the elasticity of the demand for the output and the impact of demand and cost shifters. The use of this framework helps, in the first place, to treat successfully the difficult problem of...
Persistent link: https://www.econbiz.de/10012462434