The Effects of Variable Capital Utilization on the Measurement and Properties of Sectoral Productivi

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The Effects of Variable Capital Utilization on the Measurement and Properties of Sectoral Productivity

Author : Marianne Baxter, Dorsey D. Farr

Publisher : National Bureau of Economic Research

Published : 2001

ISBN-10 :

ISBN-13 :

Number of Pages : 17 Pages

Language : en

Descriptions The Effects of Variable Capital Utilization on the Measurement and Properties of Sectoral Productivity

This paper explores how accounting for variations in factor utilization rates alters the empirical characteristics of productivity residuals in the United States and Canada. Using data on 19 manufacturing industries, we study the behavior of productivity using three proxies for capital services. We find that adjusting for cyclical movements in capital utilization alters many of the empirical characteristics of productivity, both within and across countries.

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Results The Effects of Variable Capital Utilization on the Measurement and Properties of Sectoral Productivity

Capital Utilization and Capital Accumulation: Theory and Evidence - CAPITAL UTILIZATION utilization are essentially detrended output. The correlation of detrended value-added in manufacturing and the FRB index is 0-88. The measure of capital utilization I propose to use is the average work week of capital. The series is analogous to the well-known average work week of labour, H, measured in man-hours

The Effects of Variable Capital Utilization on the Measurement and - The Effects of Variable Capital Utilization on the Measurement and Properties of Sectoral Productivity: Some International Evidence. No description defined. Statements. instance of. scholarly article. 0 references. title. The Effects of Variable Capital Utilization on the Measurement and Properties of Sectoral Productivity: Some International

What is Utilization + How do You Calculate Utilization Rate? - Smartsheet - An employee's utilization rate is a critical metric for organizations to track. It's a measure of billing efficiency that helps the company understand if it's billing enough to cover its cost plus overhead. When it comes to resource management, utilization rates help in forecasting, resource optimization, and many other essential business

Capital Utilization and Returns to Scale - NBER Macroeconomics Annual - This paper studies the implications of procyclical capital utilization rates for inference regarding cyclical movements in labor productivity and the degree of returns to scale. We organize our investigation around five questions that we study using a measure of capital services based on electricity consumption: (1) Is the phenomenon of near or actual short-run increasing returns to labor an

The effects of variable capital utilization on the measurement and - The effects of variable capital utilization on the measurement and properties of sectoral productivity some international evidence by Marianne Baxter. 0 Ratings 0 Want to read; 0 Currently reading; 0 Have read

The Effects of Variable Capital Utilization on the Measurement and - The Effects of Variable Capital… The Effects of Variable Capital Utilization on the Measurement and Properties of Sectoral Productivity: Some International Evidence ... Baxter, Marianne and Dorsey D. Farr. "Variable Capital Utilization And International Business Cycles," Journal of International Economics, 2005, v65(2,Mar), 335-347

Asset Utilization: How and Why to Calculate it - Limble CMMS - STEP #8: Calculate actual asset utilization. To arrive at the final figure, log all the losses gathered so far in sequential order and subtract them from 8,760 hours - the total in a year (24/7/365). The number of hours you get from this calculation is your actual asset utilization

The Effects of Variable Capital Utilization on the Measurement and - Downloadable! This paper explores how accounting for variations in factor utilization rates alters the empirical characteristics of productivity residuals in the United States and Canada. Using data on 19 manufacturing industries, we study the behavior of productivity using three proxies for capital services. We find that adjusting for cyclical movements in capital utilization alters many of

Capacity Utilization Measures: Underlying Economic Theory and an - Measures of industrial capacity utilization (hereafter, CU) have been used extensively in helping to explain changes in the rate of investment, labor productivity and inflation. The CU measures have also been used to obtain indices of capital in use, as distinct from capital stock in place. A number of alternative measures of CU are periodically

Capital Utilization and Capital Accumulation: Theory and Evidence - NBER - 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 capital--is incorporated into the theory and estimates. The estimates imply that capital stock is costly

The effects of variable capital utilization on the measurement and - The item The effects of variable capital utilization on the measurement and properties of sectoral productivity : some international evidence represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in European University Institute Library

The Effects of Variable Capital Utilization on the Measurement and - We find that variable capital and labor utilization explain 40-60 percent of the cyclicality of the Solow residual in manufacturing, so true technology shocks have a lower correlation with

The effects of variable capital utilization on the measurement and - The effects of variable capital utilization on the measurement and properties of sectoral productivity: Some international evidence (NBER working paper series) [Baxter, Marianne] on *FREE* shipping on qualifying offers. The effects of variable capital utilization on the measurement and properties of sectoral productivity: Some international evidence (NBER working paper series)

Capacity Utilization: Definition and How To Calculate It - 3. Divide actual output by potential output. Once you calculate your actual output and estimate your potential output level, divide the actual output by the potential output. Using the previous examples in the formula, divide the two output values: Capacity utilization = (100,000 / 225,000) x 100 = (0.44) x 100. 4

The Effects of Variable Capital Utilization on the Measurement and - This paper explores how accounting for variations in factor utilization rates alters the empirical characteristics of productivity residuals in the United States and Canada. Using data on 19 manufacturing industries, we study the behavior of productivity using three proxies for capital services

Variable capital utilization and investment shocks - ScienceDirect - The first-order condition for capital is the standard Euler equation (1) U c =qβE q′|q U c′ [F k′ + (1−δ)/q′] q changes the relative price between consumption and investment and induces the negative correlation between them. The condition for the utilization rate is (2) F h =δ h k/q If the agent increases utilization he gets the

PDF Investment, Capacity Utilization, and the Real Business Cycle - mal utilization of capital and its positive effect on the marginal productivity of labor. As will be seen, an important aspect of such a change in labor productivity is that it creates intratemporal substitution, away from leisure and toward consumption, generating procyclical effects on consumption and labor effort

Capacity Utilization - Definition, Example, and Economic Significance - The capacity utilization rate is useful to companies as it provides an insight into the value of production and the resources being utilized at any given time. It determines the company's ability to cope with a rise in the production of output without increasing costs. A reduction in the rate indicates an economic slowdown while an increase

The effects of variable capital utilization on the measurement and - Search the for Website expand_more. Articles Find articles in journals, magazines, newspapers, and more; Catalog Explore books, music, movies, and more; Databases Locate databases by title and description; Journals Find journal titles; UWDC Discover digital collections, images, sound recordings, and more; Website Find information on spaces, staff, services, and more

(PDF) Role of macroeconomic variables on firms ... - ResearchGate - In terms of the other macroeconomic variables, Exchange Rates changes which measure the ﬁnancial condition is signiﬁcant and positively related ROA. While, Kandir ( 2008 ) observed a positive

PDF Economic Analysis Division - Statistics Canada - utilization, but the resulting MFPG measures generally remain pro-cyclical. Solow (1957) used unemployment rates to adjust for the changes in the utilization of both capital and labour. Jorgenson and Griliches (1967) used an index of electric motor utilization in manufacturing to adjust capital utilization in the private economy

Capital Utilization | SpringerLink - Capital utilization is given different interpretations in the economic literature. If a machine is available for use during, say, a day, then various levels of utilization can be obtained by varying the duration of operations within the day. For any fixed duration within the day, however, it is also possible to vary the machine's rate of

Capacity utilization and the measurement of misallocation - This paper studies variable capacity utilization following a long literature in productivity measurement, 4 which results in errors in firm productivity that are tightly related to capital market distortions. Such errors induce a bias in the measurement of misallocation that cannot be signed unambiguously in theory. 2

PDF The Eﬀects of Variable Capital Utilization on the Measurement and - we used sectoral measures of total labor compensation. 6 3Shapiro [1993,1996] has provided substantial evidence that the workweek of capital is a good measure of capital services. Unfortunately, there is no data available for Canada on the workweek of capital. 4We thank Steve Lange for providing the Canadian data. For more information on the

Capacity Utilization Rate: Definition, Formula, Uses in Business - Capacity Utilization Rate: The capacity utilization rate measures the proportion of potential economic output that is actually realized. Displayed as a percentage, capacity utilization levels give

Energy price shocks, capacity utilization and business cycle - This study focuses on the analysis of energy price shocks in the generation of business cycle phenomena. These shocks are transmitted through endogenous fluctuations in capital utilization. The production structure of the model gives rise to an empirical measure of 'true' technology growth that is exempt from recent criticisms levelled at the standard measure, , Solow residual growth

PDF Leverage and Capital Utilization - W. P. Carey School of Business - deviation of all variables expect Capital Utilization has a factor of 1.0e+06 because these variables are in millions US$. opposite direction than the capital utilization, with the excepttion of the last nancial crises. This could be interpreted as in normal times, the rms reduce the long-term debt when they use more

PDF Concept, Measuremnent, Iand Recent Estimates - Brookings Institution - In equations for capital formation, a one-quarter lag effect is introduced by the linear term (CPMM)-1, where CPMM is capacity utilization in manufacturing and mining

Capital Use Intensity and Productivity Biases - Research Papers in - Downloadable! Measures of productivity growth are often pro-cyclical. This paper focuses on measurement errors in capital inputs, associated with unobserved variations in capital utilization rates, as an explanation for the existence of pro-cyclical patterns in measures of productivity. Recently constructed national and state-specific indexes of inputs, outputs, and productivity in U.S

Variable capital utilization and international business cycles - First, variable capital utilization reduces the required volatility of the productivity shock by a very significant 20−40%. Second, variable capital utilization is very effective in strengthening the model's predicted cross-country correlations between factor inputs

The Effects of Variable Capital Utilization on the - The Effects of Variable Capital Utilization on the Measurement and Properties of Sectoral Productivity: Some International Evidence Author & abstract Download 17 References 8 Citations Most related Related works & more Corrections Author Listed: Marianne Baxter Dorsey D. Farr Registered: Marianne Baxter Abstract

The Effects of Variable Capital Utilization on the - This paper explores how accounting for variations in factor utilization rates alters the empirical characteristics of productivity residuals in the United States and Canada. Using data on 19 manufacturing industries, we study the behavior of productivity using three proxies for capital services