A firm may acquire additional caoital input by purchasing new capital or by increasing the utilization of its current … capital. The margin between capital accumulation and capital utilization is studied in a model of dynamic factor demand where … the firm chooses capital, labor, and their rates of utilization. A direct measure of capital utilization --the workweek of …

This paper explores how accounting for variations in factor utilization rates alters the empirical characteristics of … productivity using three proxies for capital services. We find that adjusting for cyclical movements in capital utilization alters …

embodied technology, investment irreversibility, and variable capacity utilization. Low short-run capital …

This study builds on recent research giving the notion of capacity utilization clearer economic foundations. In this … utilization is then computed as CU=Y/Y*, where Y is actual output. Here I extend these concepts to include adjustment costs due to …

refiners. We use the model to examine the relation between refinery capacity utilization and the spread between crude oil … predictions of the model, the crack spread is highly correlated with capacity utilization at low frequencies, but that, at high … frequencies, there is no evidence of Granger causality between either the crack spread and capacity utilization, or vice versa …