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Capital Utilization and Returns to Scale

In: NBER Macroeconomics Annual 1995, Volume 10

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  • Craig Burnside
  • Martin Eichenbaum
  • Sergio Rebelo

Abstract

This paper studies the implications of procyclical capital utilization rates for inference regarding cyclical movements in labor productivity and the degree of returns to scale. We organize our investigation around five questions that we study using a measure of capital services based on electricity consumption.

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This chapter was published in:

  • Ben S. Bernanke & Julio J. Rotemberg, 1996. "NBER Macroeconomics Annual 1995, Volume 10," NBER Books, National Bureau of Economic Research, Inc, number bern95-1, July.
    This item is provided by National Bureau of Economic Research, Inc in its series NBER Chapters with number 11017.

    Handle: RePEc:nbr:nberch:11017

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    7. Basu, S., 1993. "Procyclical Productivity: Overhead Inputs or Cyclical Utilization," Papers, Michigan - Center for Research on Economic & Social Theory 93-25, Michigan - Center for Research on Economic & Social Theory.
    8. Lawrence J. Christiano & Martin Eichenbaum, 1990. "Current real business cycle theories and aggregate labor market fluctuations," Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago 90, Federal Reserve Bank of Chicago.
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    19. Roger E.A. Farmer, 1994. "The Econometrics of Indeterminacy: An Applied Study," UCLA Economics Working Papers, UCLA Department of Economics 720, UCLA Department of Economics.
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    22. Kydland, Finn E & Prescott, Edward C, 1982. "Time to Build and Aggregate Fluctuations," Econometrica, Econometric Society, Econometric Society, vol. 50(6), pages 1345-70, November.
    23. Ballard, Charles L. & Fullerton, Don & Shoven, John B. & Whalley, John, 2009. "A General Equilibrium Model for Tax Policy Evaluation," National Bureau of Economic Research Books, University of Chicago Press, edition 0, number 9780226036335, 01-2013.
    24. Craig Burnside & Martin Eichenbaum & Sergio Rebelo, 1990. "Labor Hoarding and the Business Cycle," NBER Working Papers 3556, National Bureau of Economic Research, Inc.
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    29. Lawrence J. Christiano & Martin Eichenbaum & Charles Evans, 1994. "The effects of monetary policy shocks: evidence from the flow of funds," Proceedings, Federal Reserve Bank of Dallas, Federal Reserve Bank of Dallas, issue Apr.
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