| 来源类型 | Discussion paper
|
| 规范类型 | 论文
|
| 来源ID | DP1242
|
| DP1242 Is a European Hard Core Credible? A Statistical Analysis |
| Alexis Jacquemin; André Sapir
|
| 发表日期 | 1995-09-30
|
| 出版年 | 1995
|
| 语种 | 英语
|
| 摘要 | This paper studies the implications of procyclical capital utilization rates for inference regarding cyclical movements in labour 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 labour (SRIRL) an artifact of the failure to accurately measure capital utilization rates? (2) Can we find a significant role for capital services in aggregate and industry level production technologies? (3) Is there evidence against the hypothesis of constant returns to scale? (4) Can we reject the notion that the residuals in our estimated production functions represent technology shocks? (5) How does correcting for cyclical variations in capital services affect the statistical properties of estimated aggregate technology shocks? The answer to the first two questions is: yes. The answer to the third and fourth questions is: no. The answer to the fifth question is: a lot. |
| 主题 | International Macroeconomics
|
| 关键词 | Capital utilization
Returns to scale
Technology shocks
|
| URL | https://cepr.org/publications/dp1242
|
| 来源智库 | Centre for Economic Policy Research (United Kingdom)
|
| 资源类型 | 智库出版物
|
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/530385
|
推荐引用方式
GB/T 7714 |
Alexis Jacquemin,André Sapir. DP1242 Is a European Hard Core Credible? A Statistical Analysis. 1995.
|
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