Towards an explanation of a declining trend in capacity utilisation in the US economy∗ Santiago José Gahn University of Bari santiago.gahn@uniba.it May 2021 Abstract In this paper I analyse a declining trend of effective capacity utilisation in the United States. After identifying determinants of normal capacity utilisation in the litera- ture, I find that this declining trend of the FRB’s capacity utilisation is also present in the output-capital ratio of the NBER-CES sectoral database since 1958. Results suggest that permanent changes on technical change (K/L), distribution (W/Y ) and output have transitory effects on the output-capital ratio, my proxy of effective capacity utilisation.
Towards an explanation of a declining trend in capacity utilisation in the US economy
Gahn
2022-01-01
Abstract
Towards an explanation of a declining trend in capacity utilisation in the US economy∗ Santiago José Gahn University of Bari santiago.gahn@uniba.it May 2021 Abstract In this paper I analyse a declining trend of effective capacity utilisation in the United States. After identifying determinants of normal capacity utilisation in the litera- ture, I find that this declining trend of the FRB’s capacity utilisation is also present in the output-capital ratio of the NBER-CES sectoral database since 1958. Results suggest that permanent changes on technical change (K/L), distribution (W/Y ) and output have transitory effects on the output-capital ratio, my proxy of effective capacity utilisation.| File | Dimensione | Formato | |
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