Capital allocative disturbances and economic fluctuations
Article Abstract:
Capital allocative disturbance costs are found to lower productivity, with the effect lasting for as long as three quarters. Labour and capital allocations are suboptimal, as the relative marginal labour and capital products are altered by permanent sector specific output. Factor reallocations could incorporate expensive redeployment of labour and capital through sectors. Labour allocative disturbances are not focused on, as temporary changes can be made by companies to employment levels.
Publication Name: Review of Economics and Statistics
Subject: Mathematics
ISSN: 0034-6535
Year: 1993
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The financial accelerator and the flight to quality
Article Abstract:
The financial accelerator theory, which refers to the magnification of the effects of real or monetary shocks in the economy due to changes in the credit-market environment, is proven using information acquired from large and small companies. The theory proposes that credit borrowers who face high agency costs will suffer the effects of recession. Moreover, the effects of shocks are aggravated by the reduced economic activity of borrowers.
Publication Name: Review of Economics and Statistics
Subject: Mathematics
ISSN: 0034-6535
Year: 1996
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Trends, random walks and persistence: an empirical study of disaggregated U.S. industrial production
Article Abstract:
Trend characteristics of industrial output were studied utilizing aggregate statistics and individual industrial output indices. Of the 22 industries studied, only eight exhibited random walk properties while durable goods industries exhibited static trends. In addition, aggregate output exhibited more continuity than individual indices.
Publication Name: Review of Economics and Statistics
Subject: Mathematics
ISSN: 0034-6535
Year: 1992
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- Abstracts: Sources of fluctuations in real and nominal exchange rates. Fixes: of the forward discount puzzle. TESTING FOR THE ROLE OF SPECULATION IN THE FORWARD EXCHANGE MARKET: SOME PROBLEMS IF THERE ARE FISHERIAN EXPECTATIONS
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