Production; Cost; Capital and Total Factor Productivity; Capacity

Cyclical Productivity in Europe and the United States, Evaluating the Evidence on Returns to Scale and Input Utilization

JEL codes: 
D24, E32, O47
Version Date: 
Jan 2006

This paper studies procyclical productivity growth at the industry level in the U.S. and in three European countries (France, Germany and the Netherlands). Industry-specific demand-side instruments are used to examine the prevalence of non-constant returns to scale and unmeasured input utilization. For the aggregate U.S.

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