Patterns of plant adjustment

Plutarchos Sakellaris

No 2001-05, Finance and Economics Discussion Series from Board of Governors of the Federal Reserve System (U.S.)

Abstract: This paper provides a description of the dynamic choices of manufacturing plants when they undertake rapid adjustment in output. The focus is on episodes that involve lumpy adjustment in capital or employment. I examine the behavior of variables such as capital utilization, hours per worker, overtime use, capacity utilization, materials and energy use. Finally I describe the observed patterns of productivity during those adjustment episodes and propose some hypotheses that seem to fit them. The costs associated with output adjustment seem to arise from building and destroying a particular organization of the structure of production and associated worker experience. As such they are related to learning-by-doing and investment in specific training.

Keywords: Manufactures; Productivity; Industrial capacity (search for similar items in EconPapers)
Date: 2001
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Citations: View citations in EconPapers (35)

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Related works:
Journal Article: Patterns of plant adjustment (2004)
Working Paper: Patterns of Plant Adjustment (2000)
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