| 来源类型 | FEEM working papers "Note di lavoro" series |
| 规范类型 | 论文 |
| Inventories, Employment and Hours | |
| Louis J. Maccini; Fabio Schiantarelli | |
| 发表日期 | 2002 |
| 出处 | Economy and Society |
| 出版年 | 2002 |
| 语种 | 英语 |
| 摘要 | The purpose of this paper is to develop a model that integrates inventory and labor decisions. We extend a model of inventory behavior to include a detailed specification of the role of labor input in the production process and of the costs associated with it. In particular, we distinguish between employment, hours and effort per worker, and allow for adjustment costs associated with employment changes. We assume that the requirement function for effective hours has a general trans-logarithmic form, and derive an estimable system of Euler equations for inventories and employment with implied cross-equation restrictions. The econometric results shed light on several important topics, including the shape of the marginal cost of output and the role of labor hoarding as an explanation of procyclical productivity and the persistence of inventory stocks. Moreover, they raise questions about the adequacy of commonly used specifications such as Cobb-Douglas approximations to the production process and the definition of labor input as the product of employment and effective hours worked per worker. |
| 特色分类 | D24,E23,E24,J23,J24,J32 |
| 关键词 | Inventories,employment,hours,labor adjustment costs,procyclical productivity |
| URL | https://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/inventories-employment-and-hours/ |
| 来源智库 | Fondazione Eni Enrico Mattei (Italy) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/116736 |
| 推荐引用方式 GB/T 7714 | Louis J. Maccini,Fabio Schiantarelli. Inventories, Employment and Hours. 2002. |
| 条目包含的文件 | 条目无相关文件。 | |||||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
