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Endogenous capital utilization and productivity measurement in dynamic factor demand models Theory and an application to the U.S. electrical machinery industry

  • Prucha, Ingmar R.
  • Nadiri, M. Ishaq
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    File URL: http://www.sciencedirect.com/science/article/B6VC0-3VWPP00-K/2/69cc724957f0018db99215be193ba09d
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    Article provided by Elsevier in its journal Journal of Econometrics.

    Volume (Year): 71 (1996)
    Issue (Month): 1-2 ()
    Pages: 343-379

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    Handle: RePEc:eee:econom:v:71:y:1996:i:1-2:p:343-379
    Contact details of provider: Web page: http://www.elsevier.com/locate/jeconom

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    1. Berndt, Ernst R. & Fuss, Melvyn A., 1989. "Economic capacity utilization and productivity measurement for multiproduct firms with multiple quasi-fixed inputs," Working papers 3001-89., Massachusetts Institute of Technology (MIT), Sloan School of Management.
    2. Prucha, Ingmar R. & Nadiri, M. Ishaq, 1986. "A comparison of alternative methods for the estimation of dynamic factor demand models under non-static expectations," Journal of Econometrics, Elsevier, vol. 33(1-2), pages 187-211.
    3. Abel, Andrew B, 1981. "A Dynamic Model of Investment and Capacity Utilization," The Quarterly Journal of Economics, MIT Press, vol. 96(3), pages 379-403, August.
    4. Lau, Lawrence J., 1976. "A characterization of the normalized restricted profit function," Journal of Economic Theory, Elsevier, vol. 12(1), pages 131-163, February.
    5. Morrison, Catherine J, 1985. "Primal and Dual Capacity Utilization: An Application to Productivity Measurement in the U.S. Automobile Industry," Journal of Business & Economic Statistics, American Statistical Association, vol. 3(4), pages 312-24, October.
    6. Nadiri, M. Ishaq & Prucha, Ingmar R., 1990. "Dynamic factor demand models, productivity measurement, and rates of return: Theory and an empirical application to the US Bell System," Structural Change and Economic Dynamics, Elsevier, vol. 1(2), pages 263-289, December.
    7. Nadiri, M Ishaq & Rosen, Sherwin, 1969. "Interrelated Factor Demand Functions," American Economic Review, American Economic Association, vol. 59(4), pages 457-71, Part I Se.
    8. Caves, Douglas W & Christensen, Laurits R & Diewert, W Erwin, 1982. "The Economic Theory of Index Numbers and the Measurement of Input, Output, and Productivity," Econometrica, Econometric Society, vol. 50(6), pages 1393-1414, November.
    9. Hulten, Charles R., 1986. "Productivity change, capacity utilization, and the sources of efficiency growth," Journal of Econometrics, Elsevier, vol. 33(1-2), pages 31-50.
    10. Shapiro, Matthew D, 1986. "Capital Utilization and Capital Accumulation: Theory and Evidence," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 1(3), pages 211-34, July.
    11. Bernstein, Jeffrey I. & Nadiri, M. Ishaq, 1988. "Corporate Taxes And Incentives And The Structure Of Production: A Selected Survey," Working Papers 88-11, C.V. Starr Center for Applied Economics, New York University.
    12. Honkapohja, Seppo & Kanniainen, Vesa, 1985. "Adjustment Costs, Optimal Capacity Utilization, and the Corporation Tax," Oxford Economic Papers, Oxford University Press, vol. 37(3), pages 486-99, September.
    13. Eisner, Robert, 1972. "Components of Capital Expenditures: Replacement and Modernization Versus Expansion," The Review of Economics and Statistics, MIT Press, vol. 54(3), pages 297-305, August.
    14. Epstein, Larry G. & Yatchew, Adonis J., 1985. "The empirical determination of technology and expectations : A simplified procedure," Journal of Econometrics, Elsevier, vol. 27(2), pages 235-258, February.
    15. Charles R. Hulten & Frank Wykoff, 1980. "Economic Depreciation and the Taxation of Structures in United States Manufacturing Industries: An Empirical Analysis," NBER Chapters, in: The Measurement of Capital, pages 83-120 National Bureau of Economic Research, Inc.
    16. Jeffrey I. Bernstein, 1983. "Investment, Labour Skills, and Variable Factor Utilization in the Theory of the Firm," Canadian Journal of Economics, Canadian Economics Association, vol. 16(3), pages 463-79, August.
    17. Caves, Douglas W & Christensen, Laurits R & Diewert, W Erwin, 1982. "Multilateral Comparisons of Output, Input, and Productivity Using Superlative Index Numbers," Economic Journal, Royal Economic Society, vol. 92(365), pages 73-86, March.
    18. Feldstein, Martin S & Foot, David K, 1971. "The Other Half of Gross Investment: Replacement and Modernization Expenditures," The Review of Economics and Statistics, MIT Press, vol. 53(1), pages 49-58, February.
    19. W. Erwin Diewert, 1980. "Aggregation Problems in the Measurement of Capital," NBER Chapters, in: The Measurement of Capital, pages 433-538 National Bureau of Economic Research, Inc.
    20. Bitros, George C & Kelejian, Harry H, 1974. "On the Variability of the Replacement Investment Capital Stock Ratio: Some Evidence from Capital Scrappage," The Review of Economics and Statistics, MIT Press, vol. 56(3), pages 270-78, August.
    21. Feldstein, Martin S & Rothschild, Michael, 1974. "Towards an Economic Theory of Replacement Investment," Econometrica, Econometric Society, vol. 42(3), pages 393-423, May.
    22. Bernstein, Jeffrey I. & Nadiri, M. Ishaq, 1987. "Investment, Depreciation and Capital Utilization," Working Papers 87-08, C.V. Starr Center for Applied Economics, New York University.
    23. Morrison, C. J. & Berndt, E. R., 1981. "Short-run labor productivity in a dynamic model," Journal of Econometrics, Elsevier, vol. 16(3), pages 339-365, August.
    24. Catherine J. Morrison, 1985. "Productivity Measurement with Nonstatic Expectations and Varying Capacity Utilization: An Integrated Approach," NBER Working Papers 1561, National Bureau of Economic Research, Inc.
    25. Morrison, Catherine J, 1985. "On the Economic Interpretation and Measurement of Optimal Capacity Utilization with Anticipatory Expectations," Review of Economic Studies, Wiley Blackwell, vol. 52(2), pages 295-310, April.
    26. Kokkelenberg, Edward C., 1984. "The specification and estimation of interrelated factor demands under uncertainty," Journal of Economic Dynamics and Control, Elsevier, vol. 7(3), pages 181-207, September.
    27. Nadiri, M Ishaq & Schankerman, M A, 1981. "Technical Change, Returns to Scale, and the Productivity Slowdown," American Economic Review, American Economic Association, vol. 71(2), pages 314-19, May.
    28. Madan, Dilip B. & Prucha, Ingmar R., 1989. "A note on the estimation of nonsymmetric dynamic factor demand models," Journal of Econometrics, Elsevier, vol. 42(2), pages 275-283, October.
    29. Hulten, Charles R. & Wykoff, Frank C., 1981. "The estimation of economic depreciation using vintage asset prices : An application of the Box-Cox power transformation," Journal of Econometrics, Elsevier, vol. 15(3), pages 367-396, April.
    30. Berndt, Ernst R. & Fuss, Melvyn A., 1986. "Productivity measurement with adjustments for variations in capacity utilization and other forms of temporary equilibrium," Journal of Econometrics, Elsevier, vol. 33(1-2), pages 7-29.
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