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Market Structure and Cyclical Fluctuations in U.S. Manufacturing

Domowitz, Ian; Petersen, Bruce C.; Hubbard, R. Glenn - 2021

from researchers in both macroeconomics and industrial organization. Measuring properly the size of industry markups of … which excess capacity is a significant feature accompanying imperfect competition in American industry. Using a panel data … set on four-digit Census manufacturing industries, this paper expands recent work by Robert Hall on the importance of …

Persistent link: https://www.econbiz.de/10013233459

Procyclical Labor Productivity and Competing Theories of the Business Cycle : Some Evidence from Interwar U.S. Manufacturing Industries

Bernanke, Ben; Parkinson, Martin Lee - 2021

.S. manufacturing industries. Our main findings are that SRIRL was common in the interwar period and that the pattern of SRIRL across … returns and labor hoarding explanations but find that our conclusions differ by industry …

Persistent link: https://www.econbiz.de/10013249702

The Seasonal Cycle in U.S. Manufacturing

Beaulieu, Joe; Miron, Jeffrey A. - 2021

This paper examines the seasonal cycle in the manufacturing sector of the U.S. economy. we present estimates of the … business cycle in manufacturing with respect to several key stylized facts about business cycles. The results are an important … addition to those in Barsky and Miron (1989) because the monthly data for manufacturing display interesting seasonal …

Persistent link: https://www.econbiz.de/10013312494

Aggregate Shocks or Aggregate Information? Costly Information and Business Cycle Comovement

Veldkamp, Laura - 2007

Synchronized expansions and contractions across sectors define business cycles. Yet synchronization is puzzling because productivity across sectors exhibits weak correlation. While previous work examined production complementarity, our analysis explores complementarity in information...

Persistent link: https://www.econbiz.de/10012778290

Trade and the Global Recession

Eaton, Jonathan - 2011

We develop a dynamic multi-country general equilibrium model to investigate forces acting on the global economy during the Great Recession and ensuing recovery. Our multi-sector framework accounts completely for countries' trade, investment, production, and GDPs in terms of different sets of...

Persistent link: https://www.econbiz.de/10013131675

What Inventory Behavior Tells Us About Business Cycles

Bils, Mark; Kahn, James A. - 2021

marginal cost to be more procyclical than is conventionally measured. We construct, for six manufacturing industries …

Persistent link: https://www.econbiz.de/10013222235

Why Do Countries and Industries with Large Seasonal Cycles Also Have Large Business Cycles?

Beaulieu, Joe; MacKie-Mason, Jeffrey K.; Miron, Jeffrey A. - 2021

We show there is a strong, positive correlation across countries and industries between the standard deviation of the seasonal component and the standard deviation of the non-seasonal component of aggregate variables such as output, labor input, interest rates, and prices. After documenting this...

Persistent link: https://www.econbiz.de/10013224335

Product Switching and the Business Cycle

Bernard, Andrew B. - 2016

This paper explores role of product adding and dropping within manufacturing firms over the business cycle. While a … and aggregate output and employment flows. Using a novel, annual firm-product data set covering all Japanese manufacturing …

Persistent link: https://www.econbiz.de/10012982936

Capital Taxation During the U.S. Great Depression

McGrattan, Ellen R. - 2010

Previous studies of the U.S. Great Depression find that increased taxation contributed little to either the dramatic downturn or the slow recovery. These studies include only one type of capital taxation: a business profits tax. The contribution is much greater when the analysis includes other...

Persistent link: https://www.econbiz.de/10013135242

Empirical Evidence on the Aggregate Effects of Anticipated and Unanticipated U.S. Tax Policy Shocks

Mertens, Karel - 2010

We provide empirical evidence on the dynamics effects of tax liability changes in the United States. We distinguish between surprise and anticipated tax changes using a timing-convention. We document that pre-announced but not yet implemented tax cuts give rise to contractions in output,...

Persistent link: https://www.econbiz.de/10013139130