Technology Shocks
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Technology Shocks
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Author : Heinrich M. Arnold
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Technology Shocks written by Heinrich M. Arnold and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
Radical technological changes (so-called "technology shocks") frequently disrupt the competitive market structure. New entrants appear, industries need to be redefined, incumbents lose their positions or vanish completely. Fast moving industries - like the often quoted example of the semiconductor industry - have preferably been analyzed for these phenomena. But do the findings hold for industries with longer development cycles like the global machine tool industry? Here, multivariate analysis is used to find out what management needs to focus on in order to lead companies through the technology shocks. The research for this book builds on in-depth interviews with 100 experts and decision makers from the machine tool industry involved in technology shocks and statistical analysis of detailed quantitative surveys collected from 58 companies. In several instances the results challenge classical teaching of technology management. Adrian J. Slywotzky - US top selling business author and one of the most distinguished intellectual leaders in business - comments: "In Technology Shocks, Heinrich Arnold develops a very useful model for analyzing technology shocks, and for focusing on those factors that will enable a company to navigate through these shocks successfully, and repeatedly. Although this work is focused on technology, its thinking has useful implications beyond technology shocks. It provides ideas that managers can use to protect their firms when they are faced with any type of discontinuity, technology-based or not".
Technology Shocks
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Author : Andrea Raffo
language : en
Publisher: DIANE Publishing
Release Date : 2010
Technology Shocks written by Andrea Raffo and has been published by DIANE Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Business & Economics categories.
Understanding the joint dynamics of internat. prices and quantities remains a central issue in internat. bus. cycles. Internat. relative prices appreciate when domestic consumption and output increase more than their foreign counterparts. In addition, both trade flows and trade prices display sizable volatility. This paper incorporates Hicks-neutral and investment-specific TS into a standard two-country general equilibrium model with variable capacity utilization and weak wealth effects on labor supply. Investment-specific TS introduce a source of fluctuations in absorption similar to taste shocks, thus reconciling theory and data. Also presents implications for the transmission mechanism of TS across countries. Illus. This is a print on demand pub.
Interpreting Investment Specific Technology Shocks Ist
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Author : Luca Guerrieri
language : en
Publisher: DIANE Publishing
Release Date : 2011-05
Interpreting Investment Specific Technology Shocks Ist written by Luca Guerrieri and has been published by DIANE Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-05 with Business & Economics categories.
IST shocks are often interpreted as multi-factor productivity (MFP) shocks in a separate investment-producing sector. However, this interpretation is strictly valid only when some stringent conditions are satisfied. Some of these conditions are at odds with the data. Using a two-sector model whose calibration is based on the U.S. Input-Output Tables, the authors consider the implications of relaxing several of these conditions. They show how the effects of IST shocks in a one-sector model differ from those of MFP shocks to an investment-producing sector of a two-sector model. MFP shocks induce a positive short-run correlation between consumption and investment consistent with U.S. data, while IST shocks do not. Illus. This is a print on demand report.
Technology Shocks And Aggregate Fluctuations
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Author : Mr.Pau Rabanal
language : en
Publisher: International Monetary Fund
Release Date : 2004-12-01
Technology Shocks And Aggregate Fluctuations written by Mr.Pau Rabanal and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-12-01 with Business & Economics categories.
Our answer: Not so well. We reached that conclusion after reviewing recent research on the role of technology as a source of economic fluctuations. The bulk of the evidence suggests a limited role for aggregate technology shocks, pointing instead to demand factors as the main force behind the strong positive comovement between output and labor input measures.
Economics
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Author : Guthlac N.Kirk Anyalezu, Ph.D.
language : en
Publisher: AuthorHouse
Release Date : 2015-05-06
Economics written by Guthlac N.Kirk Anyalezu, Ph.D. and has been published by AuthorHouse this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-05-06 with Education categories.
Guthlac Kirk Anyalezu’s Economics provides an advanced econometrics analysis integrating the real world (macroeconomics and microeconomics) of analyzing and/or synthesizing aggregate productivity and aggregate technology. The book’s conciseness and easy-to-follow chapters provide the best mix of approach and methodology analysis. It will enable and enhance students, researchers and other users’ understanding of how to measure aggregate productivity and technology shocks, including the evaluation of economic policies. Features include the following: A comprehensive literature survey and analysis on Total Factor Productivity (TFP) and Real Business Cycle (RBC) Models. Estimation of aggregate productivity and aggregate technology Analysis of aggregate productivity, technology and contractionary effects Econometrics techniques and analysis Structural autoregressive model and bivariate model Various econometric testing An indepth empirical study applicable to any world economy Simplification of complex econometrics modelling, theoretical analysis and evaluation
Interpreting Investment Specific Technology Shocks
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Author : Luca Guerrieri
language : en
Publisher:
Release Date : 2010
Interpreting Investment Specific Technology Shocks written by Luca Guerrieri and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
Technology Employment And The Business Cycle
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Author : Jordi Galí
language : en
Publisher:
Release Date : 1996
Technology Employment And The Business Cycle written by Jordi Galí and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Business cycles categories.
Using data for the G7 countries, I estimate conditional correlations of employment and productivity, based on a decomposition of the two series into technology and non-technology components. The picture that emerges is hard to reconcile with the predictions of the standard Real Business Cycle model. For a majority of countries the following results stand out: (a) technology shocks appear to induce a negative comovement between productivity and employment, counterbalanced by a positive comovement generated by demand shocks, (b) the impulse responses show a persistent decline of employment in response to a positive technology shock, and (c) measured productivity increases temporarily in response to a positive demand shock. More generally, the pattern of economic fluctuations attributed to technology shocks seems to be largely unrelated to major postwar cyclical episodes. A simple model with monopolistic competition, sticky prices, and variable effort is shown to be able to account for the empirical findings.
Technology Shocks And Monetary Policy
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Author : Jordi Galí
language : en
Publisher:
Release Date : 2002
Technology Shocks And Monetary Policy written by Jordi Galí and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Business cycles categories.
What Do Technology Shocks Do
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Author : John Shea
language : en
Publisher:
Release Date : 1998
What Do Technology Shocks Do written by John Shea and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Business cycles categories.
The real business cycle literature has largely ignored the empirical question of what role technology shocks actually play in business cycles. The observed procyclicality of total factor productivity (TFP) does not prove that technology shocks are important to business cycles, since demand shocks could generate procyclical TFP due to increasing returns or other reasons. I address the role of technology by investigating the dynamic interactions of inputs, TFP and two observable indicators of technology shocks: R+D spending and patent applications. Using annual panel data on 19 US manufacturing industries from 1959 -1991, I find that favorable R+D or patent shocks tend to increase inputs, especially labor, in the short run, but to decrease inputs in the long run, while tilting the mix of inputs towards capital and nonproduction labor. Favorable technology shocks do not significantly increase measured TFP at any horizon, except for a subset of industries dominated by process innovations, suggesting that available price data do not capture productivity improvements due to product innovations. Technology shocks explain only a small fraction of input and TFP volatility at business cycle horizons
What Really Accounts For The Fall In Hours After A Technology Shock
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Author : Mr.Nooman Rebei
language : en
Publisher: International Monetary Fund
Release Date : 2012-08-01
What Really Accounts For The Fall In Hours After A Technology Shock written by Mr.Nooman Rebei and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-08-01 with Business & Economics categories.
The paper asks how state of the art DSGE models that account for the conditional response of hours following a positive neutral technology shock compare in a marginal likelihood race. To that end we construct and estimate several competing small-scale DSGE models that extend the standard real business cycle model. In particular, we identify from the literature six different hypotheses that generate the empirically observed decline in worked hours after a positive technology shock. These models alternatively exhibit (i) sticky prices; (ii) firm entry and exit with time to build; (iii) habit in consumption and costly adjustment of investment; (iv) persistence in the permanent technology shocks; (v) labor market friction with procyclical hiring costs; and (vi) Leontief production function with labor-saving technology shocks. In terms of model posterior probabilities, impulse responses, and autocorrelations, the model favored is the one that exhibits habit formation in consumption and investment adjustment costs. A robustness test shows that the sticky price model becomes as competitive as the habit formation and costly adjustment of investment model when sticky wages are included.