| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w3680 |
| 来源ID | Working Paper 3680 |
| Endogenous Capital Utilization and Productivity Measurement in Dynamic Factor Demand Models: Theory and an Application to the U.S. Electrical... | |
| Ingmar R. Prucha; M. Ishaq Nadiri | |
| 发表日期 | 1991-04-01 |
| 出版年 | 1991 |
| 语种 | 英语 |
| 摘要 | Studies of the firm's demand for factor inputs often assume a constant rate of utilization of the inputs and ignore the fact that the firm can simultaneously choose the level and the rate of utilization of its inputs. In particular, the literature on dynamic factor demand models has, until recently, largely overlooked the issue of capital utilization and/or did not distinguish carefully between the distinct concepts of capital and capacity utilization. In this paper we allow for variations in the rate of capital utilization within the context of a dynamic factor demand model by adopting a modeling framework within which the firm combines its beginning-of-period stocks with other inputs to produce its outputs as well as its end-of-period stocks. We also derive measures of productivity and capacity utilization for the adopted modeling framework. Given the depreciation rate is endogenous a consistent capital stock series must be generated during estimation from the investment data. This yields, as a byproduct, a consistent decon1position of gross investment into replacement and expansion investment. As an illustration, the model is applied to U.S. Electrical Machinery data. |
| 主题 | Financial Economics ; Industrial Organization |
| URL | https://www.nber.org/papers/w3680 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/560991 |
| 推荐引用方式 GB/T 7714 | Ingmar R. Prucha,M. Ishaq Nadiri. Endogenous Capital Utilization and Productivity Measurement in Dynamic Factor Demand Models: Theory and an Application to the U.S. Electrical.... 1991. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w3680.pdf（668KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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