Download or read book Organizational Flexibility and Employment Dynamics at Young and Old Plants written by Jeffrey R. Campbell and published by . This book was released on 1998 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: There are significant differences in the dynamics of employment over the business cycle between young and old manufacturing plants. Young plants are more sensitive to aggregate disturbances, and they respond to them along different margins. We interpret these differences as reflecting greater organizational flexibility at young plants due to the changing nature of a plant's environment as it ages. In the presence of aggregate uncertainty, differences between young and old plants' organizational flexibility allows the model to reproduce their distinct cyclical characteristics. Previous empirical studies show that small firms generally respond by more to aggregate shocks than do large firms. To the extent that small firms tend to operate young plants, our analysis suggests an alternative to conventional explanations of this evidence which appeal to imperfections in credit markets.

Download or read book Organizational Flexibility and Employment Dynamics at Young and Old Plants written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The Federal Reserve Bank of Chicago presents the full text of the October 1998 working paper entitled "Organizational Flexibility and Employment Dynamics at Young and Old Plants," written by Jeffrey R. Campbell and Jonas D.M. Fisher. The text is available in PDF format. This paper examines the differences in the dynamics of employment over the business cycle between young and old manufacturing plants. The authors think these differences are due to to the changing nature of a plant's environment as it ages.

Download or read book Working Paper Series written by and published by . This book was released on 2000 with total page 632 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book A Real Explanation for Heterogeneous Investment Dynamics written by Jonas Daniel Maurice Fisher and published by . This book was released on 2001 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Equilibrium Lending Mechanism and Aggregate Activity written by Cheng Wang and published by . This book was released on 2000 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book NBER Reporter written by National Bureau of Economic Research and published by . This book was released on 1998 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Fed in Print written by and published by . This book was released on 1999 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Recent Evidence on the Relationship Between Unemployment and Wage Growth written by Daniel Aaronson and published by . This book was released on 2000 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Mis measurement of Permanent Earnings written by Bhashkar Mazumder and published by . This book was released on 2001 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Earnings Mobility in the US written by Bhashkar Mazumder and published by . This book was released on 2001 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Savings of Young Parents written by Annamaria Lusardi and published by . This book was released on 2000 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Do Endowments Predict the Location of Production written by Jeffrey Ian Bernstein and published by . This book was released on 1998 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examining the relationship between factor endowments and production patterns using international and Japanese regional data, we provide the first empirical confirmation of Ethier's correlation approach to the Rybczynski theorem. Moreover, we find evidence of substantial production indeterminacy. Prediction errors are six to thirty times larger for goods traded relatively freely. A compelling explanation of this phenomenon is the existence of more goods than factors in the presence of trade costs. This result implies that regressions of trade or output on endowments have weak theoretical foundations. Furthermore, since errors are largest in data sets where trade costs are small, we explain why the common methodology of imputing trade barriers from regression residuals often leads to backwards results.

Download or read book A Note on the Estimation of Linear Regression Models with Heteroskedastic Measurement Errors written by Daniel Gerard Sullivan and published by . This book was released on 2001 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Information Spillovers and Factor Adjustment written by Luigi Guiso and published by . This book was released on 2000 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Value of Relationships Between Small Firms and Their Lenders written by Paula R. Worthington and published by . This book was released on 1999 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Measuring Adverse Selection in Managed Health Care written by Richard G. Frank and published by . This book was released on 1998 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: Health plans paid by capitation have an incentive to distort the quality of services they offer to attract profitable and to deter unprofitable enrollees. We characterize plans' rationing as imposing a show that the profit maximizing shadow price depends on the dispersion in health costs, how well individuals forecast their health costs, the correlation between use in different illness categories, and the risk adjustment system used for payment. We further show how these factors can be combined in an empirically implementable index that can be used to identify the services that will be most distorted in competition among managed care plans. A simple welfare measure is developed to quantify the distortion caused by selection incentives. We illustrate the application of our ideas with a Medicaid data set, and conduct policy analyses of risk adjustment and other options for dealing with adverse selection.

Download or read book The Size and Scope of Government written by Torsten Persson and published by . This book was released on 1998 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: We try to demonstrate how economists may engage in research on comparative politics, relating the size and composition of government spending to the political system. A Downsian model of electoral competition and forward-looking voting indicates that majoritarian -- as opposed to proportional -- elections increase competition between parties by focusing it into some key marginal districts. This leads to less public goods, less rents for politicians, more redistribution and larger government. A model of legislative bargaining and backward-looking voting indicates that presidential -- as opposed to parliamentary -- regimes increase competition between both politicians and voters. This leads to less public goods, less rents for politicians redistribution, and smaller government. We confront these predictions with cross-country data from around 1990, controlling for economic and social determinants of government spending. We find strong and robust support for the prediction that the size of government is smaller under presidential regimes, and weaker support for the prediction that majoritarian elections are associated with less public goods.