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The Economics of Labor Adjustment : Mind the Gap
Cooper, Russell; Willis, Jonathan L. - 2021
We study the inferences about labor adjustment costs obtained by the 'gap methodology' of Caballero and Engel [1993] and Caballero, Engel and Haltiwanger [1997]. In that approach, the policy function of a manufacturing plant is assumed to depend on the gap between a target and the current level...
Persistent link: https://www.econbiz.de/10013232426
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Productivity Measurement with Nonstatic Expectations and Varying Capacity Utilization : an Integrated Approach
Morrison Paul, Catherine J. - 2021
Typically measures of multifactor productivity growth have been based on a production and optimization framework that assumes all inputs are instantaneously adjustable, thus ignoring the important impacts of short run fixity of certain inputs. This paper focuses on the distinction between short...
Persistent link: https://www.econbiz.de/10013234394
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Economic Capacity Utilization and Productivity Measurement for Multi-Product Firms with Multiple Quasi-Fixed Inputs
Berndt, Ernst R. - 2010
In this paper we develop measures of economic capacity output and economic capacity utilization for firms producing multiple outputs and having one or .ore quasi-fixed inputs. Although we produce an impossibility theorem showing that based only on the assumption of cost minimization, the concept...
Persistent link: https://www.econbiz.de/10013145300
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Bounds on Elasticities with Optimization Frictions : A Synthesis of Micro and Macro Evidence on Labor Supply
Chetty, Raj - 2013
demand, the size of the price change, and the degree of frictions. The degree of frictions is measured by the utility losses …
Persistent link: https://www.econbiz.de/10013095191
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Are Sticky Prices Costly? Evidence from the Stock Market
Gorodnichenko, Yuriy - 2013
that, after monetary policy announcements, the conditional volatility rises more for firms with stickier prices than for …
Persistent link: https://www.econbiz.de/10013085909
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The Effects of Mergers on Prices, Costs, and Capacity Utilization in the U.S. Air Transportation Industry, 1970-84
Lichtenberg, Frank R.; Kim, Moshe - 2021
We analyze the effect of mergers on various aspects of airline performance during the period 1970-84, using a panel …
Persistent link: https://www.econbiz.de/10013211662
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Chronic Excess Capacity in U.S. Industry
Hall, Robert E. - 2021
Previous research has suggested that firms in a number of industrieshave considerable market power, in the sense that their prices exceedtheir marginal costs. However, the observed profits of those industriesare not nearly as high as would occur under full exploitation of the marketpower with a...
Persistent link: https://www.econbiz.de/10013226940
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Production Targets
Caruana, Guillermo; Einav, Liran - 2021
than its static analog. We then test the theory using monthly production targets of the Big Three U.S. auto manufacturers …
Persistent link: https://www.econbiz.de/10013243651
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Demand Estimation Under Incomplete Product Availability
Conlon, Christopher T. - 2010
demand estimates. We study a new dataset from a wireless inventory system installed on 54 vending machines to track product … availability every four hours. The data allow us to account for product availability when estimating demand, and provides a … availability even when availability is only observed periodically. We find significant differences in demand estimates, with the …
Persistent link: https://www.econbiz.de/10012758419
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Ratings-Driven Demand and Systematic Price Fluctuations
Ben-David, Itzhak; Li, Jiacui; Rossi, Andrea; Song, Yang - 2022
We show that mutual fund ratings generate correlated demand that creates systematic price fluctuations. Mutual fund …. Style-level correlated demand via mutual funds immediately became muted, significantly altering the time-series and cross …
Persistent link: https://www.econbiz.de/10014243933