Has Production Management Improved Since 1984?
AbstractThe growth rate of GDP stabilized around 1984, and improvements in production management have been cited as a possible cause. This article examines this rationale with two-digit SIC manufacturing data. The empirical questions are whether there is evidence of structural change in industry output around 1984 and, if so, did output track demand more closely following the change? The results indicate that only two industries exhibited structural change in the 1982--86 period. There is evidence that output has tracked demand more closely in recent years, but this is because demand shocks have become less persistent. (JEL C15, D21, E22) Copyright 2006, Oxford University Press.
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Bibliographic InfoArticle provided by Western Economic Association International in its journal Economic Inquiry.
Volume (Year): 44 (2006)
Issue (Month): 4 (October)
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Find related papers by JEL classification:
- C15 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Statistical Simulation Methods: General
- D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
- E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Capital; Investment; Capacity
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- Bivin, David, 2013. "Production chains and aggregate output volatility," International Journal of Production Economics, Elsevier, vol. 145(2), pages 807-816.
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