Showing 1 - 10 of 14,102
This paper evaluates the contribution of allocative efficiency to the aggregate productivity growth in Canada and the US. In particular, we are interested in explaining two puzzling facts: 1) the slowdown in productivity growth during the 1970s and the 2000s in the US, and 2) the widening...
Persistent link: https://www.econbiz.de/10012404492
This paper presents results of a meta-regression analysis on empirical estimates of capital-energy substitution. Theoretically it is clear that a distinction should be made between Morishima substitution elasticities and cross-price elasticities. The former represent purely technical...
Persistent link: https://www.econbiz.de/10011349193
We construct a coherent theory of extreme macro instability, an important macro phenomenon most recently experienced in the United States in 2008-09. The model is then used to identify significant policymaking lessons from the Great Recession. The analysis is part of the ongoing GEM Project that...
Persistent link: https://www.econbiz.de/10013014393
This paper studies the impact of productivity on the flow of financial resources to and from firms. To do this we use machine learning methods (Lasso, XGBoost) to derive a new measure of firm productivity using standard corporate accounts. Output is sales revenue and we find that the key inputs...
Persistent link: https://www.econbiz.de/10012897087
I estimate potential output growth using a production function approach applied to individual firm-level data for Italy …
Persistent link: https://www.econbiz.de/10012865681
This paper demonstrates optimal policies for capacitated serial multiechelon production/inventory systems. Extending … the Clark and Scarf (1960) model to include installations with production capacity limits, we demonstrate that a modified …
Persistent link: https://www.econbiz.de/10013010781
substitution (CES) production function. By example of the U.S., we highlight the distinctive heterogeneity in empirical estimates … of production functions, especially the CES production function. Second, we outline the construction of an aggregate …
Persistent link: https://www.econbiz.de/10012850069
This study analyzes how real estate depreciates in economic value as it ages. The economic depreciation of real estate affects investment decisions by decreasing appreciation returns and increasing income returns. The data show significant cross-sectional variation in depreciation rates for...
Persistent link: https://www.econbiz.de/10012853024
Caves, Christensen, Diewert introduced Malmquist output, input and productivity indexes into production theory in a …
Persistent link: https://www.econbiz.de/10013051762
We develop a generalized production framework with endogenous production techniques that serve to organize raw factor … inputs in an efficient manner. We establish a positive relationship between production flexibility and cost efficiency. By … the detrimental effects of technique limitations by production flexibility. We apply the structure to studying, both …
Persistent link: https://www.econbiz.de/10013043157