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| Author: | Cooper, R. Haltiwanger, J. |
| Title: | The aggregate implications of machine replacement: theory and evidence. |
| Journal: | American Economic Review
1993 : JUN, VOL. 83:3, p.360-382 |
| Index terms: | DEPRECIATION MACHINERY INDUSTRY REPLACEMENT COSTS |
| Language: | eng |
| Abstract: | The process of costly replacement and depreciation creates endogenous fluctuations in productivity, employment and output of a single producer. Spillover effects are explored and conditions for synchronized machine replacement by multiple producers are provided. Synchronization of retooling across plants within the auto industry is widespread, so that the fluctuations observed at the plant level have aggregate implications. |
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