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The Aggregate Implications of Machine Replacement: Theory and Evidence / Russell Cooper, John Haltiwanger.
- Format:
- Book
- Author/Creator:
- Cooper, Russell.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w3552.
- NBER working paper series no. w3552
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- The Aggregate Implications of Machine Replacement
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 1990.
- Summary:
- This paper studies an economy in which producers must incur resource costs to replace depreciated machines. The process of costly replacement and depreciation creates endogenous fluctuations in productivity, employment and output of a single producer. We also explore the spillover effects of machine replacement by multiple, independent producers. The implications of our model are generally consistent with observed monthly output and productivity fluctuations in automobile plants and with monthly variations in employment and production in the manufacturing sector.
- Notes:
- Print version record
- December 1990.
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