The Experts below are selected from a list of 115860 Experts worldwide ranked by ideXlab platform
Vivek Ghosal - One of the best experts on this subject based on the ideXlab platform.
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input choices under price uncertainty
Economic Inquiry, 1995Co-Authors: Vivek GhosalAbstract:Theory shows that, depending on risk preferences and technological parameters, price uncertainty may alter firms' choice of capital intensity. This paper presents an empirical analysis of the effect of price uncertainty on firms' choices of capital and labor stocks. Empirical results from a cross-section of manufacturing industries, as well as within-industries over time, show that greater price uncertainty increases an industry's capital-labor ratio. It appears that risk aversion does not dominate firms' decision making. These empirical findings have implications for the analysis of Factor Demand and productivity, and capacity utilization rates. Copyright 1995 by Oxford University Press.
Jimmy Lopez - One of the best experts on this subject based on the ideXlab platform.
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Upstream Product Market Regulations, ICT, R&D and Productivity
Review of Income and Wealth, 2017Co-Authors: Gilbert Cette, Jimmy Lopez, Jacques MairesseAbstract:Our study aims at assessing the actual importance of the two main channels usually contemplated in the literature through which upstream sector anticompetitive regulations may impact productivity growth: business investments in R&D and in ICT. We thus precisely try to estimate what are the specific impacts of these two channels and their shares in total impact as against alternative channels of investments in other forms of intangible capital such as improvements in skills, management and organization. For this, we specify an extended production function relating productivity explicitly to R&D and ICT capital as well as to upstream regulations, and two Factor Demand functions relating R&D and ICT capital to upstream regulations. These relations are estimated on a panel of 14 OECD countries and 13 industries over the period 1987-2007. Our estimates confirm the results of previous similar studies finding that the impact of upstream regulations on total Factor productivity can be sizeable, and they provide evidence that a good part of the total impact, though not a predominant one, goes through both investments in ICT and R&D, and particularly the latter.
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Upstream Product Market Regulations, ICT, R&D and Productivity
Review of Income and Wealth, 2017Co-Authors: Gilbert Cette, Jimmy Lopez, Jacques MairesseAbstract:Our study investigates the importance of two main channels through which upstream anti-competitive sector regulations impact productivity growth: investments in R&D and in ICT, as opposed to alternative channels we cannot explicitly consider for lack of appropriate data such as improvements in skills, management and organization. We specify a three equations model: an extended production function relating total Factor productivity to both R&D and ICT capital, and to upstream regulations, and two Factor Demand functions relating R&D and ICT capital to upstream regulations. We estimate these relations on an unbalanced panel of 15 OECD countries and 13 industries over the period 1987–2007. We find that the total impact of upstream regulations on total Factor productivity is sizeable, a large part of which is transmitted through investments in R&D and ICT, mainly the former.
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Upstream Product Market Regulations, ICT, R&D and Productivity
Review of Income and Wealth, 2016Co-Authors: Gilbert Cette, Jimmy Lopez, Jacques MairesseAbstract:ACL-2International audienceOur study investigates the importance of two main channels through which upstream anti-competitive sector regulations impact productivity growth: investments in R&D and in ICT, as opposed to alternative channels we cannot explicitly consider for lack of appropriate data such as improvements in skills, management and organization. We specify a three equations model: an extended production function relating total Factor productivity to both R&D and ICT capital, and to upstream regulations, and two Factor Demand functions relating R&D and ICT capital to upstream regulations. We estimate these relations on an unbalanced panel of 15 OECD countries and 13 industries over the period 1987–2007. We find that the total impact of upstream regulations on total Factor productivity is sizeable, a large part of which is transmitted through investments in R&D and ICT, mainly the former
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Upstream Product Market Regulations, ICT, R&D and Productivity
National Bureau of Economic Research, 2013Co-Authors: Gilbert Cette, Jimmy Lopez, Jacques MairesseAbstract:Our study aims at assessing the actual importance of the two main channels usually contemplated in the literature through which upstream sector anticompetitive regulations may impact productivity growth: business investments in R&D and in ICT. We thus estimate what are the specific impacts of these two channels and their shares in total impact as against alternative channels of investments in other forms of intangible capital we cannot explicitly consider for lack of appropriate data such as improvements in skills, management and organization. For this, we specify an extended production function relating productivity explicitly to R&D and ICT capital as well as to upstream regulations, and two Factor Demand functions relating R&D and ICT capital to upstream regulations. These relations are estimated on the basis of an unbalanced panel of 15 OECD countries and 13 industries over the period 1987-2007. Our estimates confirm the results of previous similar studies finding that the impact of upstream regulations on total Factor productivity can be sizeable, and they provide evidence that a good part of the total impact, though not a predominant one, goes through both investments in ICT and R&D, and particularly the latter.
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ICT Demand Behaviour: an International Comparison
Economics of Innovation and New Technology, 2012Co-Authors: Gilbert Cette, Jimmy LopezAbstract:This study aims to provide some empirical explanations for the gaps in ICT diffusion between industrialized countries and especially between European countries and the United States. National macroeconomic panel data are mobilized for eleven OECD countries over the 1981-2005 period. The analysis is based on Factor Demand estimates. It provides some original results: (i) The impact on ICT diffusion is positive for the level of education and negative for market rigidities, and both increased over time (in absolute terms) until the middle of the 1990s; (ii) In each country, the price-elasticity of Demand for ICT decreased (in absolute terms) over time, from 2 at the beginning of the 1980s to 1 in the middle of the 2000s.
Gilbert Cette - One of the best experts on this subject based on the ideXlab platform.
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Upstream Product Market Regulations, ICT, R&D and Productivity
Review of Income and Wealth, 2017Co-Authors: Gilbert Cette, Jimmy Lopez, Jacques MairesseAbstract:Our study aims at assessing the actual importance of the two main channels usually contemplated in the literature through which upstream sector anticompetitive regulations may impact productivity growth: business investments in R&D and in ICT. We thus precisely try to estimate what are the specific impacts of these two channels and their shares in total impact as against alternative channels of investments in other forms of intangible capital such as improvements in skills, management and organization. For this, we specify an extended production function relating productivity explicitly to R&D and ICT capital as well as to upstream regulations, and two Factor Demand functions relating R&D and ICT capital to upstream regulations. These relations are estimated on a panel of 14 OECD countries and 13 industries over the period 1987-2007. Our estimates confirm the results of previous similar studies finding that the impact of upstream regulations on total Factor productivity can be sizeable, and they provide evidence that a good part of the total impact, though not a predominant one, goes through both investments in ICT and R&D, and particularly the latter.
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Upstream Product Market Regulations, ICT, R&D and Productivity
Review of Income and Wealth, 2017Co-Authors: Gilbert Cette, Jimmy Lopez, Jacques MairesseAbstract:Our study investigates the importance of two main channels through which upstream anti-competitive sector regulations impact productivity growth: investments in R&D and in ICT, as opposed to alternative channels we cannot explicitly consider for lack of appropriate data such as improvements in skills, management and organization. We specify a three equations model: an extended production function relating total Factor productivity to both R&D and ICT capital, and to upstream regulations, and two Factor Demand functions relating R&D and ICT capital to upstream regulations. We estimate these relations on an unbalanced panel of 15 OECD countries and 13 industries over the period 1987–2007. We find that the total impact of upstream regulations on total Factor productivity is sizeable, a large part of which is transmitted through investments in R&D and ICT, mainly the former.
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Upstream Product Market Regulations, ICT, R&D and Productivity
Review of Income and Wealth, 2016Co-Authors: Gilbert Cette, Jimmy Lopez, Jacques MairesseAbstract:ACL-2International audienceOur study investigates the importance of two main channels through which upstream anti-competitive sector regulations impact productivity growth: investments in R&D and in ICT, as opposed to alternative channels we cannot explicitly consider for lack of appropriate data such as improvements in skills, management and organization. We specify a three equations model: an extended production function relating total Factor productivity to both R&D and ICT capital, and to upstream regulations, and two Factor Demand functions relating R&D and ICT capital to upstream regulations. We estimate these relations on an unbalanced panel of 15 OECD countries and 13 industries over the period 1987–2007. We find that the total impact of upstream regulations on total Factor productivity is sizeable, a large part of which is transmitted through investments in R&D and ICT, mainly the former
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Upstream Product Market Regulations, ICT, R&D and Productivity
National Bureau of Economic Research, 2013Co-Authors: Gilbert Cette, Jimmy Lopez, Jacques MairesseAbstract:Our study aims at assessing the actual importance of the two main channels usually contemplated in the literature through which upstream sector anticompetitive regulations may impact productivity growth: business investments in R&D and in ICT. We thus estimate what are the specific impacts of these two channels and their shares in total impact as against alternative channels of investments in other forms of intangible capital we cannot explicitly consider for lack of appropriate data such as improvements in skills, management and organization. For this, we specify an extended production function relating productivity explicitly to R&D and ICT capital as well as to upstream regulations, and two Factor Demand functions relating R&D and ICT capital to upstream regulations. These relations are estimated on the basis of an unbalanced panel of 15 OECD countries and 13 industries over the period 1987-2007. Our estimates confirm the results of previous similar studies finding that the impact of upstream regulations on total Factor productivity can be sizeable, and they provide evidence that a good part of the total impact, though not a predominant one, goes through both investments in ICT and R&D, and particularly the latter.
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ICT Demand Behaviour: an International Comparison
Economics of Innovation and New Technology, 2012Co-Authors: Gilbert Cette, Jimmy LopezAbstract:This study aims to provide some empirical explanations for the gaps in ICT diffusion between industrialized countries and especially between European countries and the United States. National macroeconomic panel data are mobilized for eleven OECD countries over the 1981-2005 period. The analysis is based on Factor Demand estimates. It provides some original results: (i) The impact on ICT diffusion is positive for the level of education and negative for market rigidities, and both increased over time (in absolute terms) until the middle of the 1990s; (ii) In each country, the price-elasticity of Demand for ICT decreased (in absolute terms) over time, from 2 at the beginning of the 1980s to 1 in the middle of the 2000s.
Gerard A Pfann - One of the best experts on this subject based on the ideXlab platform.
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sequentiality versus simultaneity interrelated Factor Demand
The Review of Economics and Statistics, 2014Co-Authors: Magne Krogstad Asphjell, Wilko Letterie, Oivind Anti Nilsen, Gerard A PfannAbstract:Firms may adjust capital and labor sequentially or simultaneously. In this paper, we develop a structural model of interrelated Factor Demand subject to nonconvex adjustment costs and estimated by simulated method of moments. Based on Norwegian manufacturing industry plant-level data, parameter estimates reveal cost advantages for adjusting capital and making net changes in labor simultaneously. Factor Demand models with fully specified interrelated adjustment costs structures perform best to describe the dynamic panel data.
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adjustment costs in Factor Demand
Journal of Economic Literature, 1996Co-Authors: Daniel S Hamermesh, Gerard A PfannAbstract:This study discusses the nature of adjustment costs, which underpin the dynamic theory of input Demand. We examine the implications of the conventional assumption that they are quadratic-symmetric. A recent rapidly-growing literature based on microeconomic data shows that this assumption is inferior to many alternatives. We demonstrate the importance of this new knowledge for predicting macroeconomic fluctuations in employment and investment. We indicate its relevance for constructing general equilibrium simulation models, drawing inferences about the likely impacts of labour market and investment policies, and analysing firms’ dynamic behaviour in Factor markets.
Boqiang Lin - One of the best experts on this subject based on the ideXlab platform.
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Factor Demand technical change and inter fuel substitution in africa
Renewable & Sustainable Energy Reviews, 2016Co-Authors: Presley K Wesseh, Boqiang LinAbstract:The translog production function has been widely used in applied production analysis due to its flexibility and superiority over other functional forms. This study develops a translog production function for a group of African countries. The random effects model is estimated using generalized least squares estimator. The main findings are: first, output in Africa is driven by a more intensive use of petroleum and electricity and to a lesser extent capital, labor and coal; relative to technological progress. Second, African production technology exhibits ‘increasing returns to scale’ suggesting a path towards market entry barriers. Third, technical change is scale-biased and Factor augmenting, albeit very slow. Fourth, all energy inputs are substitutes, indicating Africa’s potential to proportionally switch towards cleaner fuels without adversely affecting economic growth. Finally and perhaps more generally, the study reinforces the assertion that imposing restrictions like homotheticity, homogeneity or separability on the production technology is unrealistic and should rather be a testable hypothesis within any applied analysis. In view of the documented findings, relevant implications for Africa are discussed.
