Description
Three Essays on Productivity (RLE: Business Cycles)
The Impacts of Profitability, Business Cycles and the Capital Stock on Productivity
Routledge Library Editions: Business Cycles Series
Author: Lasky Mark J.
Language: EnglishSubjects for Three Essays on Productivity (RLE: Business Cycles):
Keywords
labor; hours; growth; quarterly; data; standard; error; annual; real; manufacturing; Labor Hours; Real GNP; Multifactor Productivity; Cyclical Profits; GNP Deflator; Lagged Profits; Bankruptcy Decision; Profits Coefficients; Effective Hours; Markup Estimate; West Germany; Actual Labor Hours; Effort Debt; AR2 Correction; Capital’s Coefficient; Labor Productivity Growth; Cobb Douglas Production Function; Relative Input Prices; Non-price Competition; Real Business Cycle Model; UAW Leader; M2 Money Supply; Bankruptcy Model; Minimum Efficient Scale; Average Markups
Publication date: 09-2016
· 15.6x23.4 cm · Paperback
Publication date: 03-2015
· 15.6x23.4 cm · Hardback
Description
/li>Contents
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The behaviour of US productivity since this book was originally publishedin 1994, has added new relevance to the relationship between profits and productivity. In the long run, productivity growth determines the economic standard of living. This book is divided into three parts: the basis of the first is the empirical finding that, controlling for normal business cycle effects, productivity grows faster when profits have been low than otherwise. The second part discusses how to measure marginal cost using time series data and the third tests a basic assumption that productivity growth is exogenous to labour and capital.
1. Do Low Profits Stimulate Productivity Growth? 2. Deferred Marginal Cost: An Explanation for High Estimated Markups 3. Simultaneity in Freely Estimated Production Functions.