作者：Cecchetti, SG; Kashyap, AK; Wilcox, DW
作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York; University System of Ohio; Ohio State University; National Bureau of Economic Research; University of Chicago; Federal Reserve System - USA; Federal Reserve System - USA
摘要：This paper shows that in several U.S. manufacturing industries, the seasonal variability of production and inventories varies with the state of the business cycle. We present a simple model which implies that if firms reduce the seasonal variability of their production as the economy strengthens, and they either hold constant or increase the stock of inventories they bring into the high-production seasons of the year, then they must be facing upward-sloping and convex marginal cost curves. We ...
作者：Galor, O; Tsiddon, D
作者单位：Centre for Economic Policy Research - UK; Tel Aviv University
摘要：This paper analyzes the relationship between technological progress, wage inequality, intergenerational earnings mobility, and economic growth. In periods of major technological inventions, a decline in the relative importance of initial conditions raises inequality, enhances mobility, and generates a larger concentration of high-ability individuals in technologically advanced sectors, stimulating future technological progress and growth. However, once technologies become more accessible, mobi...
