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Deep Dynamics
Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Economics.
Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Economics.
Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Economics.
2018 (English)Report (Other academic)
Abstract [en]

Combining micro and macro data, we construct demand-side shocks, which we take to be exogenous for individual firms. We estimate a reduced-form model to describe how firms adjust their production, employment, capital stock, and inventories in response to such shocks. Then, we chose the structural parameters of a theoretical model so that the theoretical model can match the impulse-response functions from the estimated reduced-form model. Firms’ reactions to demand-side shocks are well explained by a model where firms have modest market power, face convex adjustment costs and where they can vary utilization flexibly. The stock-out motive helps to explain inventory dynamics.

Place, publisher, year, edition, pages
Uppsala: Uppsala universitet, 2018. , p. 73
Series
Working paper / Department of Economics, Uppsala University (Online), ISSN 1653-6975 ; 2018:10
Keywords [en]
capacity utilization, production factor, labor hoarding, labor productivity, inventory holdings, returns to scale, production function, Solow residual
National Category
Economics
Research subject
Economics
Identifiers
URN: urn:nbn:se:uu:diva-354578OAI: oai:DiVA.org:uu-354578DiVA, id: diva2:1221822
Available from: 2018-06-20 Created: 2018-06-20 Last updated: 2018-06-25Bibliographically approved

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Gottfries, NilsMickelsson, GlennStadin, Karolina
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CiteExportLink to record
Permanent link

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Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf