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How do firms adjust their output, inventories, employment and capital in response to demandsideshocks? To understand this, we estimate a reduced-form model using firm-level panel dataand we construct a theoretical model that can match the estimated impulse-response functions.A combination of...
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Combining micro and macro data, we construct demand-side shocks, which we take to be exogenous for individual firms. We estimate a reduced-form model to describe how firms adjust their production, employment, capital stock, and inventories in response to such shocks. Then, we chose the...
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In order to assess the productivity effects of information and communication technologies (ICT), regressions based on … this paper, various estimation biases and econometric strategies to overcome their sources are discussed. The effects are …-GMM estimator yields evidence for significant productivity effects of ICT which are substantially smaller though than those …
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