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Reallocation, Firm Turnover, and Efficiency : Selection on Productivity or Profitability?

Foster, Lucia - 2005

There is considerable evidence that producer-level churning contributes substantially to aggregate (industry) productivity growth, as more productive businesses displace less productive ones. However, this research has been limited by the fact that producer-level prices are typically unobserved;...

Persistent link: https://www.econbiz.de/10012467123

Transition Dynamics in Vintage Capital Models : Explaining the Postwar Catch-Up of Germany and Japan

Gilchrist, Simon - 2004

-up mechanism through capital accumulation where technology is embodied in new capital goods. Using a putty-clay model of production …

Persistent link: https://www.econbiz.de/10012467958

Plant Vintage, Technology, and Environmental Regulation

Gray, Wayne B. - 2001

Does the impact of environmental regulation differ by plant vintage and technology? We answer this question using … annual Census Bureau information on 116 pulp and paper mills' vintage, technology, productivity, and pollution abatement … include our technology, vintage, and renovation variables. Sample calculations of the impact of pollution abatement on …

Persistent link: https://www.econbiz.de/10012470238

Macroeconomics of Persistent Slumps

Hall, Robert E. - 2016

In modern economies, sharp increases in unemployment from major adverse shocks result in long periods of abnormal unemployment and low output. This chapter investigates the processes that account for these persistent slumps. The data are from the economy of the United States, and the discussion...

Persistent link: https://www.econbiz.de/10012456445

The Micro and Macro Productivity of Nations

Ayerst, Stephen; Nguyen, Duc; Restuccia, Diego - National Bureau of Economic Research - 2024

-enhancing investments (technology). Empirically, less developed countries feature higher distortions and larger dispersion in firm …-thirds of cross-country labor productivity differences. Both selection and technology channels are important. Variation in …

Persistent link: https://www.econbiz.de/10014635713

Do Well Managed Firms Make Better Forecasts?

Bloom, Nicholas; Kawakubo, Takafumi; Meng, Charlotte; … - National Bureau of Economic Research - 2021

We link a new UK management survey covering 8,000 firms to panel data on productivity in manufacturing and services. There is a large variation in management practices, which are highly correlated with productivity, profitability and size. Uniquely, the survey collects firms' micro forecasts of...

Persistent link: https://www.econbiz.de/10012794618

Convergence in neoclassical vintage capital growth models

Berger, Brett D. - Federal Reserve Board (Board of Governors of the … - 2001

of technology is embodied in the capital stock. Classic papers from the late 1950's and 1960's show that non …-optimization models display the same asymptotic growth rates whether technology is embodied (vintage capital) or disembodied. This paper …

Persistent link: https://www.econbiz.de/10005368406

How do Canadian hours worked respond to a technology shock?

Christiano, Lawrence J; Eichenbaum, Martin; Vigfusson, … - Federal Reserve Board (Board of Governors of the … - 2003

This paper investigates the response of hours worked to a permanent technology shock. Based on annual data from Canada …, we argue that hours worked rise after a positive technology shock. We obtain a similar result using annual data from the … United States. These results contradict a large literature that claims that a positive technology shock causes hours worked …

Persistent link: https://www.econbiz.de/10005712609

Aggregate productivity and aggregate technology

Basu, Susanto; Fernald, John G. - Federal Reserve Board (Board of Governors of the … - 1997

Aggregate productivity and aggregate technology are meaningful but distinct concepts. We show that a slightly …-modified Solow productivity residual measures changes in economic welfare, even when productivity and technology differ because of …-technological gaps between productivity and technology, gaps reflecting imperfections and frictions in output and factor markets …

Persistent link: https://www.econbiz.de/10005498862

Putty-putty, two sector, vintage capital growth models

Berger, Brett D. - Federal Reserve Board (Board of Governors of the … - 2001

Most growth models assume capital is homogeneous with regard to technology. This contradicts intuition and empirical … evidence that the majority of technology is embodied in the capital stock. Berger (2001) showed that neoclassical vintage … capital (embodied technology) and non-vintage capital (disembodied technology) models have different convergence rates …

Persistent link: https://www.econbiz.de/10005498905