PRODUCTION FACTOR RETURNS: THE ROLE OF FACTOR UTILIZATION

• 成果类型: Article
• 署名作者: Cette, Gilbert; Dromel, Nicolas; Lecat, Remy; Paret, Anne-Charlotte
• 署名单位: European Central Bank; Bank of France; Aix-Marseille Universite; Aix-Marseille Universite; Centre National de la Recherche Scientifique (CNRS); Paris School of Economics
• 刊物名称: REVIEW OF ECONOMICS AND STATISTICS
• ISSN/ISSBN: 0034-6535
• DOI: 10.1162/REST_a_00434
• 发表日期: 2015-03
• 页码: 134-143
• 关键词: employment functions; increasing returns

摘要

Short-term increasing returns to production factors are usually found in empirical studies. We argue they can be due to omitted variables, particularly the intensity of factor utilization. Thanks to original French firm-level data (1992-2008), we show how increasing returns to scale disappear when working time, capacity utilization rate, and, particularly, capital operating time are introduced in the production function.