This paper provides a description of the dynamic choices of manufacturing plants when they undertake rapid adjustment in output. The focus is on episodes that involve lumpy adjustment in capital or employment. I examine the behavior of variables such as capital utilization, hours per worker,...

The concept of resource slack is central to understanding the dynamics between employment, output, and inflation. But what amount of slack is consistent with price stability? To answer this question, economists define baseline values for unemployment and output known as the natural rate of...

Idaho increases silver output. - Coeur d'Alenes production almost third of entire united states. - The 1929 silver production in Shoshone county was 8,786,525.25 ounces valued at $4,656,243.33 as compared with 8,427,560 ounces valued at $4,928,996.51 in 1928.

Idaho second lead producer. - Yields fourth of nation's output in 1931 -- shoshone's part is 98 per cent of state. - J. Waite's rank high. - Bunker hill first, federal second, Hecla third -- golconda, sherman outgo important. - The production of lead in Idaho, in 1931, decreased from 263,599,300...

There's a common belief among economists that when there’s slack in the economy — that is, when labor and capital are not fully employed — the economy can expand without an increase in inflation. One measure of the intensity with which labor and capital are used in producing output is the...

Unique value-maximizing programs of irreversible capacity investment and capacity utilization are described and shown to exist under general conditions for monopolist exhibiting capital adjustment costs and serving random consumer demand for a nondurable good over an infinite horizon. Stationary...