Industry restructuring measures and productivity: evidence from the 1980s
AbstractThis paper analyzes the empirical relationship between corporate restructuring and productivity. We estimate neoclassical production functions and factor demand functions to analyze the importance of restructuring in improving resource allocation and productivity. We find, at most, restructuring may have spurred the substitution of capital for labor in some industries, helping to set the stage for increased labor productivity. However, there is little evidence that restructurings, themselves, aided in the improvement of true technological progress.
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Bibliographic InfoPaper provided by Federal Reserve Bank of New York in its series Research Paper with number 9509.
Date of creation: 1995
Date of revision:
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