Cyclical Productivity in US Manufacturing (RLE: Business Cycles) Routledge Library Editions: Business Cycles Series
Auteur : Jimenez Miguel
This book presents several pieces of empirical work which disentangle why the standard measure of productivity growth used in macroeconomics turn out to be procyclical for American manufacturing industries. Procyclical productivity is an essential feature of business cycles because of its important implications for macroeconomic modelling. The author explains why traditional Keynesian theories of the business cycle do not explain satisfactorily why productivity is procyclical, and argues that the force of technology for generating economic cycles is much more important than that of the management or mismanagement of monetary or fiscal policies. This book is aimed at those working in empirical macroeconomics but also industrial economics.
1. Explanations of Cyclical Productivity Growth 2. Data 3. Estimating Markups Using Productivity Measures 4. Externalities and the Business Cycle: A VAR Model 5. Labor Hoarding and Effort Variations
Date de parution : 02-2017
15.6x23.4 cm
Date de parution : 03-2015
15.6x23.4 cm
Thème de Cyclical Productivity in US Manufacturing ... :
Mots-clés :
labor; hoarding; instrum; ents; aggregate; shock; estim; ation; long; run; Labor Hoarding; RBC Model; Aggregate Shock; Positive Oil Price Shocks; Sic Sector; Long Run Response; Sic Level; Markup Estimates; Forecast Error Variance Decompositions; Var Model; DSR; Data Set; Sic Industry; Panel Var Model; Knowledge Spillovers; Heteroskedasticity Robust Standard Errors; 2SLS Estimator; Multifactor Productivity Growth; Non-production Workers; OLS Estimate; Durable Goods Industries; Comp; Procyclical Productivity; SR; Short Run Fixity