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Capacity Utilization and Technology Shocks in the U.S. Manufacturing Sector

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  • Jens J. Krüger

    ()
    (University of Jena, Faculty of Economics)

Abstract

In this paper the time series properties of the outcomes of two different specifications of a nonparametric productivity analysis are compared using data for three- and four- digit U.S. manufacturing industries over the period 1958-96. The first model is standard and does not account for variations of capacity utilization of the production factors whereas the second model does. Correcting for utilization leads on average to substantially smaller technology shocks which are less strongly correlation with growth rate series of output and hours as the results show. Also the probability of technological regress is considerably lower after the correction.

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Bibliographic Info

Paper provided by Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultät in its series Jenaer Schriften zur Wirtschaftswissenschaft with number 10/2004.

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Date of creation: Jun 2004
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Handle: RePEc:jen:jenasw:2004-10

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Keywords: technology shocks; business cycles; nonparametric productivity measurement;

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  1. Uwe Cantner & Werner Güth & Andreas Nicklisch & Torsten Weiland, 2004. "Competition in Innovation and Imitation - A Theoretical and Experimental Study -," Jenaer Schriften zur Wirtschaftswissenschaft 01/2004, Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultät.
  2. Kwiatkowski, Denis & Phillips, Peter C. B. & Schmidt, Peter & Shin, Yongcheol, 1992. "Testing the null hypothesis of stationarity against the alternative of a unit root : How sure are we that economic time series have a unit root?," Journal of Econometrics, Elsevier, vol. 54(1-3), pages 159-178.
  3. Amen, Matthias, 2000. "An exact method for cost-oriented assembly line balancing," International Journal of Production Economics, Elsevier, vol. 64(1-3), pages 187-195, March.
  4. Uwe Cantner & Kristina Dreßler & Jens J. Krüger, 2006. "Firm survival in the German automobile industry," Empirica, Springer, vol. 33(1), pages 49-60, March.
  5. Scholl, Armin & Klein, Robert & Häselbarth, L., 2004. "Planung im Spannungsfeld zwischen Informationsdynamik und zeitlichen Interdependenzen," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 22646, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
  6. Armin Scholl & Lutz Häselbarth, 2003. "Bestellmengenplanung im zeitlich offenen Entscheidungsfeld," Jenaer Schriften zur Wirtschaftswissenschaft 16/2003, Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultät.
  7. Lutz Häselbarth & Armin Scholl, 2003. "Dynamische Bestellmengenplanung für verderbliche Luxusgüter," Jenaer Schriften zur Wirtschaftswissenschaft 13/2003, Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultät.
  8. Roland Helm & Rudolf C. Meiler, 2003. "Intangible Ressourcen, strategische Ziele und Management interner Wissenspotenziale," Jenaer Schriften zur Wirtschaftswissenschaft 19/2003, Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultät.
  9. Armin Scholl & Christian Becker, 2003. "A note on "An exact method for cost-oriented assembly line balancing"," Jenaer Schriften zur Wirtschaftswissenschaft 22/2003, Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultät.
  10. Uwe Cantner & Holger Graf & Dirk Fornahl, 2003. "Innovationssystem und Gründungsgeschehen in Jena: Erste Erkenntnisse einer Unternehmensbefragung," Jenaer Schriften zur Wirtschaftswissenschaft 06/2003, Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultät.
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