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A Theory of Factor Allocation and Plant Size
Holmes, Thomas J.; Mitchell, Matthew F. - 2022
) the effects of trade and growth on the skill premium. The theory is consistent with certain facts about factor allocation …In this paper we develop a theory of how factors interact at the plant level. The theory has implications for: (1) the … micro foundations for capital skill complementarity (2) the relationship between factor allocation and plant size and (3 …
Persistent link: https://www.econbiz.de/10013308369
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Misallocation, Establishment Size, and Productivity
Bento, Pedro - 2016
We consider a tractable model of heterogeneous production units that features endogenous entry and productivity investment to assess the quantitative impact of policy distortions on aggregate output and establishment size. Relative to the standard factor misallocation framework, policy...
Persistent link: https://www.econbiz.de/10012979762
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Comparative Advantage, Learning, and Sectoral Wage Determination
Gibbons, Robert S.; Katz, Lawrence F.; Lemieux, Thomas; … - 2021
-variables techniques. We then apply our methodology to study the wages and allocation of workers across occupations and across industries … misleading. We also suggest further applications of our theory and methodology …
Persistent link: https://www.econbiz.de/10013233011
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The Unexpected Long-Run Impact of the Minimum Wage : An Educational Cascade
Sutch, Richard C. - 2010
Neglected, but significant, the long-run consequence of the minimum wage - which was made national policy in the United States in 1938 - is its stimulation of capital deepening. This took two forms. First, the engineered shortage of low-skill, low-paying jobs induced teenagers to invest in...
Persistent link: https://www.econbiz.de/10013138315
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Labour Market Regulations and Capital Intensity
Cette, Gilbert - 2016
On the basis of a country*industry unbalanced panel data sample for 14 OECD countries and 18 industries covering the years 1988 to 2007, this study proposes an econometric investigation of the effects of the OECD Employment Protection Legislation (EPL) indicator on capital intensity for four...
Persistent link: https://www.econbiz.de/10012983663
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Labor Hoarding, Inflexible Prices, and Procyclical Productivity
Rotemberg, Julio J.; Summers, Lawrence H. - 2021
Hall has pointed out that, when there is perfect competition and price flexibility, labor hoarding alone will not induce the Solow residual measured using labor's share in revenues to be procyclical. We show that, even with perfect competition, a small amount of price rigidity - we assume firms...
Persistent link: https://www.econbiz.de/10013249250
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Factor Prices and Factor Substitution in U.S. Firms' Manufacturing Affiliates Abroad
Borga, Maria; Lipsey, Robert E. - 2022
Using confidential individual firm data from the Bureau of Economic Analysis survey of U.S. firms' manufacturing operations abroad, we investigate the determinants of capital intensity in affiliate operations. Host country labor cost, the scale of host country production, and the capital...
Persistent link: https://www.econbiz.de/10013308648
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Effort, Wages and the International Division of Labor
Leamer, Edward E. - 2021
This paper embeds variable effort into a traditional multi-sector model. Effort enters a production function like total-factor-productivity and on the assumption that effort doesn't affect capital depreciation, the capital-cost savings from high effort operations are passed on to workers. The...
Persistent link: https://www.econbiz.de/10013228732
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Localized and Biased Technologies : Atkinson and Stiglitz's New View, Induced Innovations, and Directed Technological Change
Acemoglu, Daron - 2014
This paper revisits the important ideas proposed by Atkinson and Stiglitz's seminal 1969 paper on technological change. After linking these ideas to the induced innovation literature of the 1960s and the more recent directed technological change literature, it explains how these three...
Persistent link: https://www.econbiz.de/10013055191
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Misallocation, Economic Growth, and Input-Output Economics
Jones, Charles I. - 2011
One of the most important developments in the growth literature of the last decade is the enhanced appreciation of the role that the misallocation of resources plays in helping us understand income differences across countries. Misallocation at the micro level typically reduces total factor...
Persistent link: https://www.econbiz.de/10013130964