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Three sources of gains from trade under monopolistic competition are: (i) new import varieties available to consumers; (ii) enhanced efficiency as more productive firms begin exporting and less productive firms exit; (iii) reduced markups charged by firms due to import competition. The first...
Persistent link: https://www.econbiz.de/10013149703
We estimate an aggregate production function with constant elasticity of substitution between energy and a capital/labor composite using U.S. data. The implied measure of energy-saving technical change appears to respond strongly to the oil-price shocks in the 1970s and has a negative medium-run...
Persistent link: https://www.econbiz.de/10013065268
From 1990 to 2008, the real value of US manufacturing output grew by one-third while the pollution emitted from US factories fell by two-thirds. What accounts for this cleanup? Prior studies have documented that a relatively small share can be explained by changes in the composition of US...
Persistent link: https://www.econbiz.de/10013048607
determining the rate of growth of total factor productivity (TFP) . Specifically, we propose and illustrate a methodology for …
Persistent link: https://www.econbiz.de/10013222082
position variables and the potential spilover pool in explaining R&D intensity, patent productivity and TFP growth is explored … effects are significant in explaining patent productivity. I cannot distinguish between the two effects in explaining TFP … firms do more R&D themselves, they produce more patents per R&D dollar, and their productivity grows faster, even …
Persistent link: https://www.econbiz.de/10013225580
The purpose of this paper is to develop and estimate a model of production with endogenous technological change. Technological change arises from R&D capital accumulation decisions. These decisions respond to market and government incentives and generate R&D capital spillovers. A spillover...
Persistent link: https://www.econbiz.de/10013225951
is assumed to differ in productivity according to a parametric function of R&D effort embodied in that vintage of capital …&D expenditures at Bell Laboratories and the improvements in the productivity of specific capital inputs which are due to those R … growing over time. In addition,the rate of increase in the productivity of capital inputs has risen over time. The model fails …
Persistent link: https://www.econbiz.de/10013226942
This paper proposes a new and unified explanation for the following trends observed over the last 25 years: (1) the increased returns to education, (2) the slow measured growth in TFP in an economy undergoing massive changes in its methods of production, and (3) the poor wage performance,...
Persistent link: https://www.econbiz.de/10013237553
leaders. We find strong evidence of technological diffusion but not full convergence; differences in total factor productivity …
Persistent link: https://www.econbiz.de/10013240307
Productivity rises in booms and falls in recessions. There are four main explanations for this procyclical productivity … procyclical productivity as an essential feature of business cycles because each explanation has important implications for … utilization and resource reallocations are particularly important in explaining procyclical productivity. We also argue that the …
Persistent link: https://www.econbiz.de/10013240533