Showing 1 - 10 of 1,170
U.S. beef cattle stocks are among the most periodic time-series in economics. A theory of cattle cycles is constructed … the demographic structure of the herd to respond cyclically to exogenous shocks in demand for beef and in production costs … evolution of cattle stock and beef consumption. These compare very closely to structural econometric time-series estimates over …
Persistent link: https://www.econbiz.de/10013308616
Between 1800 and 1860, the United States became the preeminent world supplier of cotton as output increased sixty-fold. Technological changes, including the introduction of improved cotton varieties, contributed significantly to this growth. Measured output per worker in the cotton sector rose...
Persistent link: https://www.econbiz.de/10013136562
This paper provides three perspectives on long-run growth rates of labor productivity (LP) and of multi …-factor productivity (MFP) for the U. S. economy. It extracts statistical growth trends for labor productivity from quarterly data for the … in early 1962 down to 1.25 percent in late 1979 and recovered to 2.45 percent in 2002. Our results on productivity trends …
Persistent link: https://www.econbiz.de/10013146509
This study compares labor and total factor productivity (TFP) in France, Japan, the United Kingdom and the United … experienced contrasting advances in productivity, in particular as a result of unequal investment in information and communication … technology (ICT).The past 120 years have been characterized by: (i) rapid economic growth and large productivity gains in all …
Persistent link: https://www.econbiz.de/10013149831
which the US overtakes Britain in productivity leadership, the US does not have the overwhelming lead in market potential …
Persistent link: https://www.econbiz.de/10013086325
I provide a quantitative interpretation of financial intermediation in the U.S. over the past 130 years. Measuring separately the cost of intermediation and the production of financial services, I find that: (i) the quantity of intermediation varies a lot over time; (ii) intermediation is...
Persistent link: https://www.econbiz.de/10013066115
endogenous relation between productivity growth and the state of the economy. A large contractionary shock to equity financing in …
Persistent link: https://www.econbiz.de/10013040420
Brazil, Mexico and a few other Latin American republics enjoyed faster industrialization after 1870 than did the rest of Latin America and even faster than the rest of the poor periphery (except East Asia). How much of this economic performance was due to more accommodating institutions and...
Persistent link: https://www.econbiz.de/10012771913
productivity, occasioned by the disappearance of the whales (because of over-hunting) and the deterioration of the quality of labor … problems. In this paper, productivity data (superlative indexes), by voyage, are employed in multiple regression analysis to … trace the relationships between the changes in the composition of the fleet and productivity. The propositions that …
Persistent link: https://www.econbiz.de/10012777223
Many recent theoretical papers have come under attack for modeling prices as Geometric Brownian Motion. This process can diverge over time, implying that firms facing this price process can earn infinite profits. We explore the significance of this attack and contrast investment under Geometric...
Persistent link: https://www.econbiz.de/10013310260