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The Workweek of Capital and Capital Utilization in Manufacturing

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  • J. Beaulieu
  • Joe Mattey

Abstract

Over the typical intervals of time studied in economic analysis, the flow of capital services is not a fixed proportion of the capital stock. Much of the short-run variation in capital services comes from the duration of operations. This paper presents new estimates of the workweek of capital from the Census Bureau' Survey of Plant Capacity (SPC), both for our own analytical use and to make workweek data more widely available to other researchers. The paper uses these workweek estimates to reconsider various results in the literature on capital utilization and productivity growth. Copyright Kluwer Academic Publishers 1998

Suggested Citation

  • J. Beaulieu & Joe Mattey, 1998. "The Workweek of Capital and Capital Utilization in Manufacturing," Journal of Productivity Analysis, Springer, vol. 10(2), pages 199-223, October.
  • Handle: RePEc:kap:jproda:v:10:y:1998:i:2:p:199-223
    DOI: 10.1023/A:1018629508255
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    2. Salnikov, Vladimir & Galimov, Dmitry & Mikheeva, Olga & Gnidchenko, Andrey & Rybalka, Alexey, 2017. "Russian manufacturing production capacity: Primary trends and structural characteristics," Russian Journal of Economics, Elsevier, vol. 3(3), pages 240-262.
    3. Chatterjee, Santanu, 2005. "Capital utilization, economic growth and convergence," Journal of Economic Dynamics and Control, Elsevier, vol. 29(12), pages 2093-2124, December.
    4. Susanto Basu & John Fernald, 2001. "Why Is Productivity Procyclical? Why Do We Care?," NBER Chapters, in: New Developments in Productivity Analysis, pages 225-302, National Bureau of Economic Research, Inc.
    5. Michalis Nikiforos, 2020. "Notes on the Accumulation and Utilization of Capital: Some Empirical Issues," Economics Working Paper Archive wp_953, Levy Economics Institute.
    6. Michalis Nikiforos, 2013. "The (Normal) Rate of Capacity Utilization at the Firm Level," Metroeconomica, Wiley Blackwell, vol. 64(3), pages 513-538, July.
    7. Miles S. Kimball & John G. Fernald & Susanto Basu, 2006. "Are Technology Improvements Contractionary?," American Economic Review, American Economic Association, vol. 96(5), pages 1418-1448, December.
    8. Diego Romero-Avila & DIEGO ROMERO-ÁVILA & ILASKI BARAÑANO, 2012. "Long-Term Growth and Persistence with Endogenous Depreciation: Theory and Evidence," EcoMod2012 3757, EcoMod.
    9. Michalis Nikiforos, 2019. "On the "Utilization Controversy": A Rejoinder and Some Comments," Economics Working Paper Archive wp_940, Levy Economics Institute.
    10. Santiago J. Gahn & Alejandro González, 2018. "On the “utilisation controversy”: a comment," Working Papers PKWP1814, Post Keynesian Economics Society (PKES).
    11. Villa Stefania, 2012. "Capital Utilization and the Amplification Mechanism," The B.E. Journal of Macroeconomics, De Gruyter, vol. 12(1), pages 1-22, September.
    12. repec:dgr:rugggd:gd-137 is not listed on IDEAS
    13. Marcel P. Timmer & Ilya B. Voskoboynikov, 2014. "Is Mining Fuelling Long-Run Growth in Russia? Industry Productivity Growth Trends Since 1995," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 60(S2), pages 398-422, November.
    14. Norman J. Morin & John J. Stevens, 2004. "Estimating capacity utilization from survey data," Finance and Economics Discussion Series 2004-49, Board of Governors of the Federal Reserve System (U.S.).
    15. Santiago J. Gahn, 2020. "Is there a decreasing trend in capacity utilisation in the US economy? Some new evidence," Working Papers PKWP2006, Post Keynesian Economics Society (PKES).
    16. Michalis Nikiforos, 2011. "On the Desired Rate of Capacity Utilization," Working Papers 1116, New School for Social Research, Department of Economics.
    17. Yuriy Gorodnichenko & Matthew Shapiro, 2011. "Using the Survey of Plant Capacity to Measure Capital Utilization," Working Papers 11-19, Center for Economic Studies, U.S. Census Bureau.

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