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firm productivity. A detailed analysis of 2006-2017 data shows that input- output linkages across Turkish manufacturing …-level production networks, I build a model that lays a theoretical foundation upon which establish a linkage between productivity and … the sophistication of a firm's production network, its productivity, and its entry decision regarding export markets. This …
Persistent link: https://www.econbiz.de/10012840996
utilisation (CU) as the second series has been proven to produce more reliable estimates of the Total Factor Productivity (TFP …
Persistent link: https://www.econbiz.de/10012866790
This paper examines whether firm-level idiosyncratic shocks propagate in production networks. We identify idiosyncratic shocks with the occurrence of natural disasters. We find that affected suppliers impose substantial output losses on their customers, especially when they produce specific...
Persistent link: https://www.econbiz.de/10013006519
The mandate of the European Central Bank’s monetary policy is to ensure price stability. Interest rate changes by the ECB affect labor costs and the value added of firms. If both dimensions are not equally affected, monetary policy has a distributive effect between workers and shareholders....
Persistent link: https://www.econbiz.de/10012624800
Conditional on a contractionary monetary policy shock, the labor share of value added is expected to decrease in the basic New Keynesian model. By providing firm-level evidence, we are first to validate this proposition. Using local projections and high dimensional fixed effects, we show that a...
Persistent link: https://www.econbiz.de/10013215164
Conditional on a contractionary monetary policy shock, the labor share of value added is expected to decrease in the basic New Keynesian model. By providing firm-level evidence, we are first to validate this proposition. Using local projections and high dimensional fixed effects, we show that a...
Persistent link: https://www.econbiz.de/10013216670
There is widespread disagreement on the quantitative contribution of news shocks to business- cycle fluctuations. This paper provides a simple identifying restriction, based on inventory dynamics, that tightly pins down the contribution of news shocks to business-cycle volatility. We show that...
Persistent link: https://www.econbiz.de/10013225619
Historically, U.S. labor productivity (output per hour) and total factor productivity (TFP) rose in booms and fell in …, however, the procyclicality of productivity has waned. TFP has been roughly acyclical with respect to inputs, whereas labor … productivity has become significantly countercyclical. The slow pace of productivity growth after 2010, when the post …
Persistent link: https://www.econbiz.de/10013291771
We study business cycles with cyclical returns to scale. Contrary to tightly parameterized production functions (Cobb-Douglas and Constant Elasticity of Substitution), we empirically identify strong input complementarity that leads to procyclical returns to scale. We therefore propose a flexible...
Persistent link: https://www.econbiz.de/10013260122
of entry and exit of U.S. manufacturing plants, in terms of employment and productivity, between 1972 and 1997. We show … compare its predictions to the data. In our model, plants enter and exit endogenously, and the size and productivity of …
Persistent link: https://www.econbiz.de/10012720467