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Export Supply and Import Demand Functions : A Production Theory Approach
Diewert, W. Erwin - 1986
In this paper we theoretically and empirically model import demand and export supply behavior of firms for the U … producer supply and demand functions that are consistent with profit maximizing behavior. This system is then empirically … implemented and the resulting estimates used to construct a full set of supply and demand elasticities characterizing import …
Persistent link: https://www.econbiz.de/10012477060
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Aggregate Output with Operating Rates and Inventories as Buffers BetweenVariable Final Demand and Quasi-Fixed Factors
Helliwell, John F. - 1985
the desired level of output. In response to unexpected or temporary changes in demand or cost conditions, optimal … take place) or that current output is determined by aggregate demand without reference to the production function …
Persistent link: https://www.econbiz.de/10012477457
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Inventories, Stock-Outs, and Production Smoothing
Abel, Andrew B. - 1985
If stock-outs are ignored and if demand shocks are additive, then optimal behavior requires that the marginal cost of … general demand shocks (and still ignoring stock-outs), the excess of MC over EMP has the same signas the covariance of the … slope of the demand curve and the marginal valuation of inventory. The equality of EMR and MC is also broken by taking …
Persistent link: https://www.econbiz.de/10012477522
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Restriced Cost Functions and the Rate of Return to Quasi-Fixed Factors, with an Application to R&D and Capital in the Bell System
Schankerman, Mark - 1984
This paper provides a statistical test to assess the adequacy of static equilibrium models. The test is based on a restricted cost function framework together with the envelope conditions which characterize static equilibrium for the quasi-fixed factors. We also show how restricted cost function...
Persistent link: https://www.econbiz.de/10012477838
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On the Theory of Productive Saving
Ehrlich, Isaac - 1975
The central thesis of this paper is that the management of portfolios incorporating a variety of investment assets does require the use of time and other scarce resources in searching for, collecting, interpreting, and applying relevant information. Accordingly, the returns on these assets would...
Persistent link: https://www.econbiz.de/10012479054
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Rethinking Production Under Uncertainty
Cochrane, John H. - 2019
Conventional models of production under uncertainty specify that output is produced in fixed proportions across states of nature. I investigate a representation of technology that allows firms to transform output from one state to another. I allow the firm to choose the distribution of its...
Persistent link: https://www.econbiz.de/10012480479
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Rational Inattention, Competitive Supply, and Psychometrics
Caplin, Andrew - 2018
Costs of attention, while central to choice behavior, have proven hard to measure. We introduce a simple method of recovering them from choice data. Our recovery method rests on the observation that costs of attention play precisely the same role in consumer choice as do a competitive firm's...
Persistent link: https://www.econbiz.de/10012480875
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Measuring Aggregate Productivity Growth Using Plant-Level Data
Petrin, Amil - 2005
We define aggregate productivity growth as the change in aggregate final demand minus the change in the aggregate cost …
Persistent link: https://www.econbiz.de/10012466784
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Economic Development as Self-Discovery
Hausmann, Ricardo - 2002
In the presence of uncertainty about what a country can be good at producing, there can be great social value to discovering costs of domestic activities because such discoveries can be easily imitated. We develop a general-equilibrium framework for a small open economy to clarify the analytical...
Persistent link: https://www.econbiz.de/10012469762
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Markup Behavior in Durable and Nondurable Manufacturing : A production Theory Approach
Morrison, Catherine J. - 1989
effects of cost and demand characteristics on these markups. Price to marginal coat ratios are measured for various Canadian … competition, unemployment and other cost and demand determinants are evaluated using adjusted markup indexes and elasticities of …
Persistent link: https://www.econbiz.de/10012476112