Differing factor adjustment costs across industries: Evidence from Japan
نویسندگان
چکیده
منابع مشابه
Factor adjustment costs: A structural investigation
This paper assesses various capital and labor adjustment costs functions estimating a general equilibrium framework with Bayesian methods using US aggregate data. The estimation finds that the adjustment costs are convex in both capital and labor and allowing for their joint interaction is important. The structural model enables us to identify the response of factor adjustment costs to exogenou...
متن کاملAdjustment Costs from Environmental Change
The paper is concerned with the case whereby the distribution of a firm’s productivity shocks changes without the knowledge of the firm. Over time the firm learns about the nature and extent of the change in the distribution of the shock and adjusts, incurring adjustment costs in the process. The long run loss in profits (±) due to the shift in the distribution we term the equilibrium response....
متن کاملProductivity across Industries and Countries: Time Series Theory and Evidence
In this paper, we test whether aggregate productivity movements, especially convergence, are also reflected at the industry level. Using a new result on the asymptotic normality of panel unit root estimators, we find evidence for convergence in total factor productivity for sectors such as services and construction in 14 OECD countries from 1970-1987. However, surprisingly, we find that converg...
متن کاملMISQ Archivist Information Technology Investments and Firm Risk Across Industries: Evidence from the Bond Market
This study investigates the effect of information technology (IT) investments on initial bond ratings and yield spreads for U.S. firms. The results indicate that the impact of IT investments on the bond ratings and yield spreads is different across industries, consistent with varying IT risks across industries. The findings suggest that credit-rating agencies and bond investors consider IT inve...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Economic Modelling
سال: 2016
ISSN: 0264-9993
DOI: 10.1016/j.econmod.2015.12.035