EconPapers    
Economics at your fingertips  
 

The Aggregate Implications of Machine Replacement: Theory and Evidence

Russell Cooper and John Haltiwanger

No 3552, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: 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.

Date: 1990-12
Note: EFG
References: View references in EconPapers View complete reference list from CitEc
Citations View citations in EconPapers (47) Track citations by RSS feed

Published as American Economic Review, Vol. 83, No. 3, pp. 360-382 (June 1993).

Downloads: (external link)
http://www.nber.org/papers/w3552.pdf (application/pdf)

Related works:
Journal Article: The Aggregate Implications of Machine Replacement: Theory and Evidence (1993) Downloads
Working Paper: THE AGGREGATE IMPLICATIONS OF MACHINE REPLACEMENT: THEORY AND EVIDENCE (1992) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:nbr:nberwo:3552

Ordering information: This working paper can be ordered from
http://www.nber.org/papers/w3552

Access Statistics for this paper

More papers in NBER Working Papers from National Bureau of Economic Research, Inc National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.. Contact information at EDIRC.
Series data maintained by ().

 
Page updated 2017-09-29
Handle: RePEc:nbr:nberwo:3552