Fluctuations in Productivity Growth Rates and Input Utilization in U.S. Manufacturing.(Critical Essay)

From: Atlantic Economic Journal | Date: June 1, 2000| Author: | Copyright information

DANIEL J. RYAN [*]

Recent work suggests that the utilization rate of inputs (that is, the intensity with which inputs are used) varies over time and partly explains procyclical productivity. To confirm this, the panel data of the "NBER Manufacturing Productivity Database" (450 4-digit industries from 1958 to 1991) [Bartelsman and Gray, 1994] were analyzed to determine the year-by-year fluctuations in total factor productivity growth rates and the utilization rates of nonmaterial inputs. The utilization rate was found to be procyclical. When the gross domestic product (GDP) ...

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