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This paper presents a comparative analysis of productivity growth in the U.S. and Japanese electrical machinery industries in the postwar period. This industry has experienced rapid growth in output and productivity and high rates of capital formation in both countries. A substantial amount of...
Persistent link: https://www.econbiz.de/10013218546
We estimate and compare the production structures of the US, Japanese, and Korean total manufacturing sectors for the 1974-1990 period. We employ a translog variable cost function that includes such inputs as labor, materials, physical and R&D capital with the physical and R&D capital treated as...
Persistent link: https://www.econbiz.de/10013219187
determination of investment decisions in R&D at the firm level. The model is based on cost minimization subject to the firm …'s expectations of the stream of output and the price of R&D, and results in equations for actual and multiple-span planned investment …
Persistent link: https://www.econbiz.de/10013219204
interdependence with investment decisions. The approach is based on the view that the flow of undepreciated capital is an output to be …. Often this problem is ignored in the theory of investment, not only because depreciation is exogenous, but also due to the …
Persistent link: https://www.econbiz.de/10013219962
investment demands and the elasticities are highly inelastic. The effect is stronger for P&E than for R&D capital in the long run …, while the effects on P&E and R&D investment are quite similar in the short run …
Persistent link: https://www.econbiz.de/10013233468