In December 1997, the Board of Governors published the results of an annual revision of its measures of industrial production and capacity utilization, which cover the nation's manufacturing, mining, and electric and gas utilities industries. The revision entailed primarily the incorporation of...

This paper analyzes the empirical relationship between corporate restructuring and productivity. We estimate neoclassical production functions and factor demand functions to analyze the importance of restructuring in improving resource allocation and productivity. We find, at most, restructuring...