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efficient allocation of production factors across firms. In this study, we measure the effect of bureaucracy, labor regulations … methodology that is robust to production function mis-specification to infer the size of the distortions induced by these … output that is lost as a result of these frictions is less than 1% of aggregate manufacturing production. This is relatively …
Persistent link: https://www.econbiz.de/10012900823
variables and the joint structure of a production possibility frontier with a model of technical inefficiency. The model …
Persistent link: https://www.econbiz.de/10012896405
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
A recent explanation for declining GDP growth is that R&D has gotten harder. The formal explanation in Jones (1995) is “fishing out”-- idea discovery decreases in the level of knowledge. If valid, long-run growth is exogenous. In follow-on empirical work, Bloom, Jones, Van Reenen and Webb...
Persistent link: https://www.econbiz.de/10012824731
What is the role of production networks in inducing self-fulfilling business cycles? We build a continuous … in sectors with higher Domar weights in the production network is more likely to lead to a self-fulfilling equilibrium …
Persistent link: https://www.econbiz.de/10012825835
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
The critique by Gahn and González (2019) of the conclusions in Nikiforos (2016) regarding what data should be used to evaluate whether capacity utilization is endogenous to demand is weak for the following reasons: The Federal Reserve Board (FRB) measure of utilization is not appropriate for...
Persistent link: https://www.econbiz.de/10012858932