Productivity measurement with non-static expectations and varying capacity utilization
type: Item
instance of: scholarly article
title: Productivity measurement with non-static expectations and varying capacity utilization
zbMATH Open document ID: 0606.90016
DOI: 10.1016/0304-4076(86)90027-8
author: Catherine J. Morrison
published in: Journal of Econometrics
publication date: 1986-01-01T00:00:00Z
review text: This article focuses attention on the implications for multifactor productivity measurement of increasing marginal adjustment costs for quasi-fixed inputs. A dynamic optimization model of an imperfectly competitive firm producing at a point of long-run non-constant returns to scale with increasing marginal adjustment costs on quasi-fixed inputs and non-static expectations provides a framework to capture variations in utilization, anticipating behavior and costs of adjustment as well as the effects of non-constant returns to scale on productivity growth. The resulting framework is applied to study the productivity growth in the U.S. manufacturing sector, 1947-1979.
Mathematics Subject Classification ID: 91B38
Mathematics Subject Classification ID: 91B82
Mathematics Subject Classification ID: 62P20
zbMATH DE Number: 3980845
zbMATH Keywords: subequilibrium
zbMATH Keywords: capacity utilization
zbMATH Keywords: multifactor productivity measurement
zbMATH Keywords: dynamic optimization
zbMATH Keywords: productivity growth
MaRDI profile type: Publication
full work available at URL: 0304-4076(86)90027-8
OpenAlex ID: W3127795986
cites work: Productivity change, capacity utilization, and the sources of efficiency growth
cites work: A characterization of the normalized restricted profit function
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description: scientific article; zbMATH DE number 3980845