SEQUENTIALITY VERSUS SIMULTANEITY: INTERRELATED FACTOR DEMAND

被引：16

作者：

Asphjell, Magne K. ^{[1
]}

Letterie, Wilko ^{[2
]}

Nilsen, Oivind A. ^{[1
]}

Pfann, Gerard A. ^{[2
]}

机构：

[1] Norwegian Sch Econ, Bergen, Norway

[2] Maastricht Univ, Maastricht, Netherlands

来源：

REVIEW OF ECONOMICS AND STATISTICS | 2014年 / 96卷 / 05期

关键词：

ADJUSTMENT COSTS; LABOR DEMAND; FIXED COSTS; INVESTMENT; UNCERTAINTY; MODELS; FIRM; JOB;

D O I：

10.1162/REST_a_00411

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Firms may adjust capital and labor sequentially or simultaneously. In this paper, we develop a structural model of interrelated factor demand subject to nonconvex adjustment costs and estimated by simulated method of moments. Based on Norwegian manufacturing industry plant-level data, parameter estimates reveal cost advantages for adjusting capital and making net changes in labor simultaneously. Factor demand models with fully specified interrelated adjustment costs structures perform best to describe the dynamic panel data.

引用

页码：986 / 998

页数：13

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