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Measuring Organization Capital

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  • Andrew Atkeson
  • Patrick J. Kehoe

Abstract

In the manufacturing sector of the U.S. economy, nearly 9% of output is not accounted for as payments to either physical capital or labor. The value of this output is a little larger than the value of the stock of physical capital. We build a model to measure how much of this output can be attributed to payments to organization capital-organization-specific knowledge that is built up with experience. We find that roughly 4% of output can be accounted for as payments to organization capital and that this capital has roughly two-thirds the value of the stock of physical capital.

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Bibliographic Info

Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 8722.

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Date of creation: Jan 2002
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Publication status: published as Atkeson, Andrew and Patrick J. Kehoe. “Modeling and Measuring Organization Capital." Journal of Political Economy 113, 5 (October 2005): 1026-1053.
Handle: RePEc:nbr:nberwo:8722

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  1. Hopenhayn, Hugo & Rogerson, Richard, 1993. "Job Turnover and Policy Evaluation: A General Equilibrium Analysis," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 101(5), pages 915-38, October.
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Cited by:
  1. Fransisco M. Ganzalez & Alok Johri, 2002. "Asymmetric Labor Adjustment, Organizational Capital and Aggregate Job Flows," Department of Economics Working Papers 2002-03, McMaster University.
  2. Erzo G.J. Luttmer, 2004. "The size distribution of firms in an economy with fixed and entry costs," Working Papers, Federal Reserve Bank of Minneapolis 633, Federal Reserve Bank of Minneapolis.
  3. Dieter Sadowski & Oliver Ludewig, 2003. "Organisational Capital: The Power of an Economic Metaphor: Organisational Capital in German Establishments," IAAEG Discussion Papers until 2011, Institute of Labour Law and Industrial Relations in the European Union (IAAEU) 200302, Institute of Labour Law and Industrial Relations in the European Union (IAAEU).
  4. Kim, Yong Jin, 2007. "A model of industrial hollowing-out of neighboring countries by the economic growth of China," China Economic Review, Elsevier, Elsevier, vol. 18(2), pages 122-138.
  5. Erzo G.J. Luttmer, 2010. "On the mechanics of firm growth," Staff Report, Federal Reserve Bank of Minneapolis 440, Federal Reserve Bank of Minneapolis.
  6. Chowdhry, Bhagwan & Garmaise, Mark J., 2003. "Organization Capital and Intrafirm Communication," University of California at Los Angeles, Anderson Graduate School of Management, Anderson Graduate School of Management, UCLA qt8j01z46g, Anderson Graduate School of Management, UCLA.
  7. Baruch Lev & Suresh Radhakrishnan, 2003. "The Measurement of Firm-Specific Organization Capital," NBER Working Papers 9581, National Bureau of Economic Research, Inc.
  8. Werner Hölzl, 2003. "Tangible and intangible sunk costs and the entry and exit of firms in Austrian Manufacturing," Working Papers, Vienna University of Economics Research Group: Growth and Employment in Europe: Sustainability and Competitiveness geewp33, Vienna University of Economics Research Group: Growth and Employment in Europe: Sustainability and Competitiveness.
  9. Alok Johri, 2005. "Learning-by-doing and Endogenous Price-level Inertia," Department of Economics Working Papers 2005-02, McMaster University.
  10. Fabiano Rodrigues Bastos, 2007. "Organizational Capital, Learning-by-Doing and Investment Volatility," Economia, ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics], ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics], vol. 8(3), pages 463–475.
  11. Guner, Nezih & Ventura, Gustavo & Xu, Yi, 2007. "Macroeconomic Implications of Size-Dependent Policies," CEPR Discussion Papers, C.E.P.R. Discussion Papers 6138, C.E.P.R. Discussion Papers.
  12. Patrick Francois & Huw Lloyd-Ellis, 2004. "Investment Cycles," Macroeconomics, EconWPA 0405005, EconWPA, revised 05 May 2004.
  13. Andrew Figura, 2002. "Is reallocation related to the cycle? A look at permanent and temporary job flows," Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) 2002-16, Board of Governors of the Federal Reserve System (U.S.).
  14. Zwick, Thomas & Wolf, Elke, 2002. "Reassessing the Impact of High Performance Workplaces," ZEW Discussion Papers, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research 02-07, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  15. Diego Restuccia, 2008. "The Latin American Development Problem," Working Papers, University of Toronto, Department of Economics tecipa-318, University of Toronto, Department of Economics.
  16. Andrew Figura, 2002. "The cyclical behavior of short-term and long-term job flows," Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) 2002-12, Board of Governors of the Federal Reserve System (U.S.).
  17. Sandra E. Black & Lisa M. Lynch, 2005. "Measuring Organizational Capital in the New Economy," NBER Chapters, National Bureau of Economic Research, Inc, in: Measuring Capital in the New Economy, pages 205-236 National Bureau of Economic Research, Inc.
  18. Lars Jonung, 2005. "Proceedings of the 2004 first annual DG ECFIN research conference on “Business Cycles and Growth in Europeâ€," European Economy - Economic Papers, Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission 227, Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission.

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