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productivity across sectors exhibits weak correlation. While previous work examined production complementarity, our analysis … production and a low marginal cost of replication, sectors can share the cost to forecast their sector-specific productivity …
Persistent link: https://www.econbiz.de/10012466105
Product availability impacts many industries such as transportation, events, and retail, yet little empirical evidence documents the importance of stocking decisions for firm profits, vertical relationships, or consumers. We conduct several experiments, exogenously removing top-selling products...
Persistent link: https://www.econbiz.de/10012462151
This paper begins by identifying nominal price stickiness as the logical basis for the Keynesian or activist point of view concerning demand management policy. It then characterizes two alternative approaches to policy analysis that have been adopted by adherents of the Keynesian position, the...
Persistent link: https://www.econbiz.de/10012476546
Over the course of the nineteenth century manufacturing in the United States shifted from artisan shop to factory … production. At the same time United States experienced a "transportation revolution", a key component of which was the building … of extensive railroad network. Using a newly created data set of manufacturing establishments linked to county level data …
Persistent link: https://www.econbiz.de/10012464237
This paper presents new annual estimates of U.S. production of pig iron and imports of pig iron products dating back to … role of the tariff in fostering the industry's early development. Domestic pig iron production is found to be highly … sensitive to changes in import prices. Although import price fluctuations had a much greater impact on U.S. production than …
Persistent link: https://www.econbiz.de/10012465198
The average cash to assets ratio for U.S. industrial firms increases by 129% from 1980 to 2004. Because of this increase in the average cash ratio, American firms at the end of the sample period can pay back their debt obligations with their cash holdings, so that the average firm has no...
Persistent link: https://www.econbiz.de/10012466129
The rise of offshoring of intermediate inputs raises important questions for commercial policy. Do the distinguishing features of offshoring introduce novel reasons for trade policy intervention? Does offshoring create new problems of global policy cooperation whose solutions require...
Persistent link: https://www.econbiz.de/10012464361
In this paper we develop a monopolistic competition model where firms exercise their market power across multiple products. Even with CES preferences, markups are endogenous. Firms choose their optimal product scope by balancing the net profits from a new variety against the costs of...
Persistent link: https://www.econbiz.de/10012464943
what might be called "trade in tasks." We propose a new conceptualization of the global production process that focuses on …
Persistent link: https://www.econbiz.de/10012465939
This paper examines how devaluations affect the relative costs of labor and capital and therefore influence production …
Persistent link: https://www.econbiz.de/10012469660