Has Production Management Improved Since 1984?

Economic Inquiry, 2006, vol. 44, issue 4, pages 671-688

Abstract: The growth rate of GDP stabilized around 1984, and improvements in production management have been cited as a possible cause. This article examines this rationale with two-digit SIC manufacturing data. The empirical questions are whether there is evidence of structural change in industry output around 1984 and, if so, did output track demand more closely following the change? The results indicate that only two industries exhibited structural change in the 1982--86 period. There is evidence that output has tracked demand more closely in recent years, but this is because demand shocks have become less persistent. (JEL C15, D21, E22) Copyright 2006, Oxford University Press.

JEL-codes: C15 D21 E22 (search for similar items in EconPapers)

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