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| Author: | Nilsen, O.A. (et al.) |
| Title: | Lumpy investments, factor adjustments, and labour productivity |
| Journal: | Oxford Economic Papers
2009 : JAN, VOL. 61:1, p. 104-127 |
| Index terms: | economic theory capital investment labour productivity manufacturing industry service Scandinavia Nordic countries Norway |
| Language: | eng |
| Abstract: | This paper deals with firms' output and factor demands before, during, and after lumpy investment episodes. Based on a rich employer-employee panel data set from 1995 to 2003 of two manufacturing industries (henceforth as: man-indts.) and one service industry (as: s-indt.) from Norway, the focus is on simultaneous variations in output, capital, materials, labour productivity, man hours, and the skill composition and hourly cost of labour. ... Focusing on sectoral differences, it is found that capital adjustments are smoother in the s-indt. than in the two man-indts., possibly related to differences in labour intensities btw. the industries. |
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