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Accounting for the secular “decline” of U.S. manufacturing

Marquis, Milton; Trehan, Bharat - Federal Reserve Bank of San Francisco - 2005

productivity growth. We show that the data imply that households are not willing to substitute between the two goods at all and …

Persistent link: https://www.econbiz.de/10005514429

Quantifying embodied technological change

Sakellaris, Plutarchos; Wilson, Daniel J. - Federal Reserve Bank of San Francisco - 2001

We estimate the rate of embodied technological change directly from plant-level manufacturing data on current output and input choices along with histories on their vintages of equipment investment. Our estimates range between 8 and 17 percent for the typical U.S. manufacturing plant during the...

Persistent link: https://www.econbiz.de/10005514430

How workers fare when employers innovate

Black, Sandra E.; Lynch, Lisa M.; Krivelyova, Anya - Federal Reserve Bank of San Francisco - 2003

Complementing existing work on firm organizational structure and productivity, this paper examines the impact of …

Persistent link: https://www.econbiz.de/10005514435

Estimating the Euler equation for output

Rudebusch, Glenn D.; Fuhrer, Jeffrey C. - Federal Reserve Bank of San Francisco - 2002

New Keynesian macroeconomic models have generally emphasized that expectations of future output are a key factor in determining current output. The theoretical motivation for such forward-looking behavior relies on a straightforward generalization of the well-known Euler equation for...

Persistent link: https://www.econbiz.de/10005401530

Small business and computers: adoption and performance

Bitler, Marianne P. - Federal Reserve Bank of San Francisco - 2001

technologies is associated with higher productivity and higher productivity growth. As in the worker literature, firms adopting … productivity, or other measures of firm success. I am able to control for many firm characteristics not available in other data …

Persistent link: https://www.econbiz.de/10005401539

Some implications of using prices to measure productivity in a two-sector growth model

Marquis, Milton; Trehan, Bharat - Federal Reserve Bank of San Francisco - 2003

-2000 period. An aggregate TFP measure based on these series appears quite similar to the multifactor productivity measure … constructed by the BLS. We find statistical evidence of structural breaks in the growth rate of our productivity measures in 1973 … and 1995. The first of these breaks appears to be due to an economy-wide productivity slowdown, while the second is …

Persistent link: https://www.econbiz.de/10005401561

Embodying embodiment in a structural, macroeconomic input-output model

Wilson, Daniel J. - Federal Reserve Bank of San Francisco - 2001

This paper describes an attempt to build a regression-based system of labor productivity equations that incorporate the ….S. economy. Builders of regression-based forecasting models have long had difficulty finding labor productivity equations that … productivity. Theory dictates that this causation is driven by the effect of traditional capital deepening as well as technological …

Persistent link: https://www.econbiz.de/10005401573

Investment, capacity, and uncertainty: a putty-clay approach

Gilchrist, Simon; Williams, John C. - Federal Reserve Bank of San Francisco - 2002

-normally distributed idiosyncratic productivity uncertainty and Leontief utilization choice yields an aggregate production function that is … about the productivity of an investment project typically reduces investment at the micro level, but it raises aggregate … hours and a medium-term expansion in the growth rate of labor productivity. …

Persistent link: https://www.econbiz.de/10005401579

Growth and investment across countries

Benhabib, Jess; Spiegel, Mark M. - Federal Reserve Bank of San Francisco - 1997

total factor productivity growth and levels of investment. Political instability is also found to influence levels of …

Persistent link: https://www.econbiz.de/10005401582

What's driving the new economy?: the benefits of workplace innovation

Black, Sandra E.; Lynch, Lisa M. - Federal Reserve Bank of San Francisco - 2003

employee voice, have been a significant component of the turnaround in productivity growth in the United States during the 1990 …s. Our work goes beyond measuring the impact of computers on productivity and finds that these types of workplace … innovation appear to explain a large part of the movement in multi-factor productivity in the United States over the period 1993 …

Persistent link: https://www.econbiz.de/10005401597