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As a form of investment, the importance of capital reallocation between firms has been increasing over time, with the purchase of used capital accounting for 25% to 40% of firms total investment nowadays. Cross- firm reallocation of used capital also exhibits intriguing business-cycle...
Persistent link: https://www.econbiz.de/10011911555
productivity and distorts the picture of what is happening in the economy. In this paper, we incorporate sweat equity in an … otherwise standard business cycle model. We use the model to analyze productivity in the United States during the 1990s boom. We … modest growth in productivity …
Persistent link: https://www.econbiz.de/10002917577
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The main aim of the paper is to highlight the relation between flexibility and vertical integration. To this purpose, we go through the selection of the optimal degree of vertical disintegration of a flexible firm which operates in a dynamic uncertain environment. The enterprise we model enjoys...
Persistent link: https://www.econbiz.de/10003715357
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's (1982) model of learning in a setting where each firm gradually learns about its own productivity, and each occasionally …
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productivity growth. This paper offers a quantitative study on the link between uncertainty and low productivity growth. Firstly … Recession. Secondly, to investigate the effect of uncertainty on productivity growth dynamics, I present a novel general … productivity growth when accounting for the empirical discrepancy between the realised and expected changes to the second-moment of …
Persistent link: https://www.econbiz.de/10012243292