Investment in Capital Assets and Economic Performance: The U.S. Chemicals and Primary-Metals Industries in Transition
AbstractThe effects of market and technological conditions on the investment and markup behavior of firms, and their resulting impacts on economic performance, are closely interrelated and comple x. In this paper determinants of and linkages among these are explored. for two industries with very different performance records and developme nt patterns--the chemicals and primary metals industries. The analysis is carried out using a production theory model that permits explicit assessment of the motivations underlying firm decisions, and data th at allows high tech investment to be distinguished from general capital assets. This allows modeling and measurement of technological and behavioral factors underlying investment, input demand and pricing decisions, and resulting economic performance.
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Bibliographic InfoArticle provided by American Statistical Association in its journal Journal of Business and Economic Statistics.
Volume (Year): 11 (1993)
Issue (Month): 1 (January)
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Web page: http://www.amstat.org/publications/jbes/index.cfm?fuseaction=main
Other versions of this item:
- Catherine J. Morrison, 1991. "Investment in Capital Assets and Economic Performance: The U.S. Chemicals and Primary Metals Industries in Transition," NBER Working Papers 3828, National Bureau of Economic Research, Inc.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Catherine J. Morrison, 1989. "Unraveling the Productivity Growth Slowdown in the U.S., Canada and Japan: The Effects of Subequilibrium, Scale Economies and Markup," NBER Working Papers 2993, National Bureau of Economic Research, Inc.
- Hall, Robert E, 1988.
"The Relation between Price and Marginal Cost in U.S. Industry,"
Journal of Political Economy,
University of Chicago Press, vol. 96(5), pages 921-47, October.
- Robert E. Hall, 1988. "The Relation Between Price and Marginal Cost in U.S. Industry," NBER Working Papers 1785, National Bureau of Economic Research, Inc.
- Morrison, C. J. & Berndt, E. R., 1981. "Short-run labor productivity in a dynamic model," Journal of Econometrics, Elsevier, vol. 16(3), pages 339-365, August.
- Morrison, Catherine J, 1988. "Quasi-Fixed Inputs in U.S. and Japanese Manufacturing: A Generalized Leontief Restricted Cost Function Approach," The Review of Economics and Statistics, MIT Press, vol. 70(2), pages 275-87, May.
- Berndt, Ernst R. & Morrison, Catherine J., 1995.
"High-tech capital formation and economic performance in U.S. manufacturing industries An exploratory analysis,"
Journal of Econometrics,
Elsevier, vol. 65(1), pages 9-43, January.
- Berndt, Ernst R. & Morrison, Catherine J., 1992. "High-tech capital formation and economic performance in U.S. manufacturing industries : an exploratory analysis," Working papers 3419-92., Massachusetts Institute of Technology (MIT), Sloan School of Management.
- Feenstra, T.L. & Kort, P.M. & Zeeuw, A.J. de, 1997. "Environmental Policy in an International Duopoly: An Analysis of Feedback Investment Strategies," Discussion Paper 1997-43, Tilburg University, Center for Economic Research.
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