Arbeitspapier
External Economies at the Firm Level: Evidence from Swedish Manufacturing
Using the method of Caballero and Lyons (1990, 1992), I examine detailed Swedish manufacturing firm-level data on output and factor inputs from 1979 through 1994. Panel regressions show that an increase in aggregate output and inputs appears to raise individual firms production beyond private marginal returns, a result consistent with external economies. However, while considering potential specification difficulties, this paper shows that a model in which random shifts in technology drive the business cycle statistically outperforms the Caballero-Lyons model. This finding suggests that high-frequency random shifts in technology are more important for movements in firms productivity than are external economies.
- Sprache
-
Englisch
- Erschienen in
-
Series: Sveriges Riksbank Working Paper Series ; No. 89
Klassifikation
Wirtschaft
Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
Industry Studies: Manufacturing: General
Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
Industry Studies: Manufacturing: General
Thema
business fluctuations
economic growth
increasing returns
manufacturing
economic growth
increasing returns
manufacturing
Ereignis
Geistige Schöpfung
(wer)
Lindström, Tomas
Ereignis
Veröffentlichung
(wer)
Sveriges Riksbank
(wo)
Stockholm
(wann)
1999
- Handle
- Letzte Aktualisierung
-
12.07.2024, 13:23 MESZ
Objekttyp
- Arbeitspapier
Beteiligte
- Lindström, Tomas
- Sveriges Riksbank
Entstanden
- 1999
Ähnliche Objekte (12)
Technology shocks and the labour-input response: Evidence from firm-level data
Capital Adjustment Patterns in Swedish Manufacturing Firms: What Model Do They Suggest?
Effects of organizational change on firm productivity
Qualitative Survey Responses and Production over the Business Cycle
The impact of monetary policy on household borrowing: A high-frequency IV identification
Firm-level evidence of shifts in the supply of credit
The importance of reallocation for productivity growth: Evidence from European and US banking
Oil prices in a real-business-cycle model with precautionary demand for oil
Diversication advantages during the global financial crisis
Firm-level shocks and labor adjustments
The Effects of Permanent Technology Shocks on Labor Productivity and Hours in the RBC model
The Swedish external position and the Krona
Technology shocks and the labour-input response: Evidence from firm-level data
Capital Adjustment Patterns in Swedish Manufacturing Firms: What Model Do They Suggest?
Effects of organizational change on firm productivity
Qualitative Survey Responses and Production over the Business Cycle
The impact of monetary policy on household borrowing: A high-frequency IV identification
Firm-level evidence of shifts in the supply of credit
The importance of reallocation for productivity growth: Evidence from European and US banking
Oil prices in a real-business-cycle model with precautionary demand for oil
Diversication advantages during the global financial crisis
Firm-level shocks and labor adjustments
The Effects of Permanent Technology Shocks on Labor Productivity and Hours in the RBC model
The Swedish external position and the Krona
Technology shocks and the labour-input response: Evidence from firm-level data
Capital Adjustment Patterns in Swedish Manufacturing Firms: What Model Do They Suggest?
Effects of organizational change on firm productivity
Qualitative Survey Responses and Production over the Business Cycle
The impact of monetary policy on household borrowing: A high-frequency IV identification
Firm-level evidence of shifts in the supply of credit
The importance of reallocation for productivity growth: Evidence from European and US banking
Oil prices in a real-business-cycle model with precautionary demand for oil
Diversication advantages during the global financial crisis
Firm-level shocks and labor adjustments
The Effects of Permanent Technology Shocks on Labor Productivity and Hours in the RBC model