| Description |
1 online resource |
| Series |
Routledge library editions. Business cycles ; volume 4 |
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Routledge library editions. Business cycles ; volume 4
|
| Contents |
Cover; Half Title; Title Page; Copyright Page; Original Title Page; Original Copyright Page; Dedication; Table of Contents; List of Tables; List of Charts; Preface; Introduction; Chapter I. Do Low Profits Stimulate Productivity Growth?; 1. Introduction; 2. Basic Empirical Findings; 3. How Robust Are the Basic Results?; 4. Cyclical and Noncyclical Components of Profits; 5. Past Research: The Literature on Satisficing -- 6. Time Allocation Model; 7. Liquidity Constraint Model; 8. Bankruptcy Choice Model; 9. Industry Case Study: Motor Vehicles; 10. Summary and Conclusion |
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Appendix A: Derivation of Equation 1.4Appendix B: Effect of Higher Profits on Time Allocated to Cost-Cutting; Appendix C: Effect of Profits on Manager Retention; Appendix D: Effect of Profits on Effort; Chapter II. Deferred Marginal Cost: An Explanation for High Estimated Markups; 1. Introduction; 2. Evidence For Deferred Marginal Cost; 3. The Marginal Benefit of Capital; 4. Evidence For Varying Levels of Effort; 5. Offsetting Variations in Effort; 6. Immediate Compensation For Effort; 7. Conclusion; Appendix A: Workers' Utility Under a Varying-Effort Contract |
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Appendix B: Labor Hours Under a Varying-Effort ContractChapter III. Simultaneity in Freely Estimated Production Functions; 1. Introduction; 2. Theory; 3. Empirical Results; 4. Conclusion; Bibliography; Index |
| Summary |
The behaviour of US productivity since this book was originally publishedin 1994, has added new relevance to the relationship between profits and productivity. In the long run, productivity growth determines the economic standard of living. This book is divided into three parts: the basis of the first is the empirical finding that, controlling for normal business cycle effects, productivity grows faster when profits have been low than otherwise. The second part discusses how to measure marginal cost using time series data and the third tests a basic assumption that productivity growth is exoge |
| Bibliography |
Includes bibliographical references and index |
| Notes |
Vendor-supplied metadata |
| Subject |
Production (Economic theory)
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Industrial productivity.
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Profit.
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Business cycles
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Capital productivity.
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BUSINESS & ECONOMICS -- Industries -- General.
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Business cycles
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Capital productivity
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Industrial productivity
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Production (Economic theory)
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Profit
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| Form |
Electronic book
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| ISBN |
9781317502524 |
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1317502523 |
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9781317502517 |
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1317502515 |
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9781317502500 |
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1317502507 |
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9781315714943 |
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1315714949 |
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9781315713601 |
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1315713608 |
|
1138861073 |
|
9781138861077 |
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9781138886285 |
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1138886289 |
|
