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| Author: | Inklaar, R. |
| Title: | Cyclical productivity in Europe and the United States: Evaluating the evidence on returns to scale and input utilization |
| Journal: | Economica
2007 : NOV, VOL. 74:296, p. 822-841 |
| Index terms: | economic conditions productivity demand models industries Europe USA |
| Language: | eng |
| Abstract: | In the paper, procyclical productivity (hereafter as: p-p.) growth at the industry level in the United States (U.S.) and in three European countries (France, Germany and the Netherlands) is explored. Industry-specific demand-side instruments are used to examine the prevalence of non-constant returns to scale and unmeasured input utilization (here as: u-i-u). For the aggregate U.S. economy, u-i-u. seems to explain p-p. However, this correction still leaves one in three U.S. industries with p-p. This failure of the model can also be seen in Europe, being mostly concentrated in services industries. |
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