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Returns to Scale in U.S. Production : Estimates and Implications

Basu, Susanto; Fernald, John G. - 1997

A typical (roughly) two-digit industry in the United States appears to have constant or slightly decreasing returns to scale. Three puzzles emerge, however. First, estimates often rise at higher levels of aggregation. Second, apparent decreasing returns contradicts evidence of only small...

Persistent link: https://www.econbiz.de/10014031071

How Production Networks Amplify Shocks

Bahal, Girish; Lenzo, Damian - 2022

In a broad class of macroeconomic models with production networks, it is difficult to discern which set of structural relationships between sectors amplify shocks and shape aggregate outcomes. As a remedy, we provide a formula that sidesteps this issue by considering linkages in isolation,...

Persistent link: https://www.econbiz.de/10013307140

Responses of Unemployment to Productivity Changes for a General Matching Technology

Ryan, Rich - 2023

unemployment responds to productivity changes depends on resources that can be allocated to job creation. Yet, this …) characterize responses of unemployment to productivity changes for a general matching technology; and (3) show how a matching … technology that is not Cobb--Douglas implies unemployment responds more to productivity changes, which is independent of …

Persistent link: https://www.econbiz.de/10014348607

Improving output gap estimation : a bottom-up approach

Rathke, Alexander; Streicher, Sina - 2023

We propose a multivariate Bayesian state space model to identify potential growth and the output gap consistent with the dynamics of the underlying production sectors of the economy and those of inflation and the labor market. Our approach allows us to decompose economic fluctuations and...

Persistent link: https://www.econbiz.de/10014427292

Zooming in on monetary policy : the labor share and production dynamics of two million firms

Fritsche, Jan Philipp; Steininger, Lea - 2021 - This version: August 18, 2021

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/10012607460

Productivity in the Spanish regions during the recent economic cycles

Sosvilla-Rivero, Simón - 2011 - Very preliminary version, June 2011

behavior of productivity during expansions will be analyzed for twenty production branches by applying the methodology proposed … by Leamer (2007), based on the decomposition of contributions to the growth of the productivity of each of these branches … productivity during recessions as well as those that have created an important stimulus to productivity during expansions. …

Persistent link: https://www.econbiz.de/10011555811

Holy cows and spilt milk : the impact of religious conflict on firm-level productivity

Bentzen, Jeanet Sinding; Boberg-Fazlić, Nina; Sharp, Paul - 2023

We consider the impact of non-violent religious conflict on firm-level productivity. We zoom in on a Protestant and … provide plausibly causal evidence that religious conflict hampered firm-level productivity. Examining the mechanism, we … proceed to demonstrate that the reduction in productivity is due to the religious conflict rather than whether or not the …

Persistent link: https://www.econbiz.de/10014439041

Unraveling the effects of tropical cyclones on economic sectors worldwide : direct and indirect impacts

Kunze, Sven - In: Environmental and resource economics 78 (2021) 4, pp. 545-569

This paper examines the current, lagged, and indirect effects of tropical cyclones on annual sectoral growth worldwide. The main explanatory variable is a new damage measure for local tropical cyclone intensity based on meteorological data weighted for individual sectoral exposure, which is...

Persistent link: https://www.econbiz.de/10012495342

How fast can China grow? The middle kingdom's prospects to 2030

Bailliu, Jeannine N.; Kruger, Mark; Toktamyssov, Argyn; … - 2016

productivity (TFP) and then forecast trend output growth out to 2030 using a bottom-up approach based on forecasts that we build …

Persistent link: https://www.econbiz.de/10011564695

Persistent debt and business cycles in an economy with production heterogeneity

Khan, Aubhik; Lee, Soyoung - 2023

, the half-life of the recovery doubles. …

Persistent link: https://www.econbiz.de/10014544548