Plutarchos Sakellaris () (University of Maryland and Board of Governors of the Federal Reserve System)
Abstract
This paper provides a description of the dynamic choices of manufacturing plants when they undertake rapid adjustment in output. The focus is on epsodes that involve lumpy adjustment in capital or employment. I examine the behavior of variables such as capital utilization, hours per worker, overtime use, capacity utilization, materials and energy use. Finally I describe the observed patterns of productivity during those adjustment episodes and propose some hypotheses that seem to fit them. The costs associated with output adjustment seem to arise form building and destroying a particular organizaqtion of the structure of production and associated worker experience. As such they are related to learning-by-doing and investment in specific training.
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Paper provided by University of Maryland, Department of Economics in its series Electronic Working Papers with number
00-001.
Length: Date of creation: Aug 2000 Date of revision: Handle: RePEc:umd:umdeco:00-001
Contact details of provider: Postal: Department of Economics, University of Maryland, Tydings Hall, College Park, MD 20742 Web page: http://www.econ.umd.edu/
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Find related papers by JEL classification: E22 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Capital; Investment; Capacity D24 - Microeconomics - - Production and Organizations - - - Production; Capital and Total Factor Productivity; Capacity L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
Jeremy Greenwood & Boyan Jovanovic, 1998.
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Jeremy Greenwood & Boyan Jovanovic, 2000.
"Accounting for Growth,"
RCER Working Papers
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[Downloadable!]
Jeremy Greenwood & Boyan Jovanovic, 2001.
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National Bureau of Economic Research, Inc.
[Downloadable!]
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NBER Chapters,
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[Downloadable!]
Cited by: (explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)