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• W1982189183 abstract "Recent empirical contributions on procyclical productivity have focused on the dynamic implications of persistent aggregate fluctuations on sectoral productivity. Given a permanent innovation in aggregate output, unobserved variations of labour (or capital) utilization may have only a transitory effect on measured productivity, whereas external effects should produce permanent effects. It is found that persistent aggregate fluctuations have a permanent effect on productivity of four-digit US manufacturing industries. While a number of alternative explanations of this evidence are discussed and ruled out, the findings are consistent with a simple model with external or thick market effects." @default.
• W1982189183 created "2016-06-24" @default.
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• W1982189183 date "2002-05-01" @default.
• W1982189183 modified "2023-10-14" @default.
• W1982189183 title "Interpreting the procyclical productivity of manufacturing sectors: can we really rule out external effects?" @default.
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• W1982189183 doi "https://doi.org/10.1080/00036840110058491" @default.
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