Search results for "Output"
showing 10 items of 381 documents
RENT CREATION AND RENT SHARING: NEW MEASURES AND IMPACTS ON TOTAL FACTOR PRODUCTIVITY
2019
International audience; This analysis proposes new measures of rent creation and rent sharing and assesses their impact on productivity on cross-country-industry panel data. We find first that: (1) anticompetitive product market regulations positively affect rent creation and (2) employment protection legislation boosts hourly wages, particularly for low-skill workers. However, we find no significant impact of this employment legislation on rent sharing, as the hourly wage increases are offset by a negative impact on hours worked. Second, using regulation indicators as instruments, we find that rent creation and rent sharing both have a substantial negative impact on total factor productivi…
Sticky-price models and the natural rate hypothesis
2005
Abstract A major criticism of standard specifications of price adjustment in models for monetary policy analysis is that they violate the natural rate hypothesis by allowing output to differ from potential in steady state. In this paper we estimate a dynamic optimizing business cycle model whose price-setting behavior satisfies the natural rate hypothesis. The price-adjustment specifications we consider are the sticky-information specification of Mankiw and Reis (Sticky information versus sticky prices: a proposal to replace the new Keynesian Phillips curve. Quarterly Journal of Economics 117, 1295–1328) and the indexed contracts of Christiano et al. (Nominal rigidities and the dynamic effe…
Testing the long-run relationship between health expenditures and GDP in the presence of structural change: the case of Spain
2007
This article examines the long-run relationship between per capita US$ PPP health expenditures (HE) and per capita US$ PPP national income (GDP), using Spanish data over the period 1960 to 2001. We extend previous analyses by addressing the question of whether this relationship is stable over time, allowing for structural changes at an unknown date. Our empirical results are consistent with the existence of a long-run relationship between both variables, with two structural changes in 1971 and 1991. On the other hand, health would have been characterized as a luxury commodity, even though increasingly less over time.
Aggregate uncertainty and sectoral productivity growth: The role of credit constraints
2016
Abstract We show that an increase in aggregate uncertainty—measured by stock market volatility—reduces productivity growth more in industries that depend heavily on external finance. The mechanism at play is that during periods of high uncertainty, firms that are credit constrained switch the composition of investment by reducing productivity-enhancing investment—such as on ICT capital—which is more subject to liquidity risks (Aghion et al., 2010). The effect is larger during recessions, when financing constraints are more likely to be binding, than during expansions. Our statistical method—a difference-in-difference approach using productivity growth of 25 industries from 18 advanced econo…
The Macroeconomy After Tariffs
2021
AbstractWhat does the macroeconomy look like in the aftermath of tariff changes? This study estimates impulse response functions from local projections using a panel of annual data that spans 151 countries from 1963 to 2014. Tariff increases are associated with persistent, economically and statistically significant declines in domestic output and productivity, as well as higher unemployment and inequality, real exchange rate appreciation, and insignificant changes to the trade balance. Output and productivity impacts are magnified when tariffs rise during expansions and when they are imposed by more advanced or smaller (as opposed to developing or larger) economies; effects are asymmetric, …
Carbon dioxide levels during pre-hospital active compression–decompression versus standard cardiopulmonary resuscitation
1998
Abstract In a prospective randomised study we investigated end-tidal carbon dioxide levels during standard versus active compression–decompression (ACD) cardiopulmonary resuscitation (CPR) assuming that the end-tital carbon dioxide reflects cardiac output during resuscitation. In each group 60 patients with out-of-hospital cardiac arrest were treated either with the standard or the ACD method. End-tidal CO 2 ( p et CO 2 , mmHg) was assessed with a side-stream capnometer following intubation and then every 2 min up to 10 min or restoration of spontaneous circulation (ROSC). There was no difference in p et CO 2 between both patient groups. However, CO 2 was significantly higher in patients wh…
Input-Output Feedback Linearization Control of Linear Induction Motors Including the dynamic End-Effects
2014
This paper proposes the theoretical framework and the consequent application of the input-output feedback linearization (FL) control technique to linear induction motors (LIM). LIM, additionally to RIM, presents other strong non-linearities caused by the dynamic end effects, leading to a space-vector dynamic model with time-varying inductance and resistance terms and a braking force term. This paper, starting from a recently developed dynamic model of the LIM taking into consideration its end effects, defines a FL technique suited for LIMs, since it inherently considers its dynamic end effects. The proposed approach has been validated experimentally on a suitably developed test set-up. Furt…
An adaptive control law for robotic manipulator without velocity feedback
2003
In this paper, a new adaptive control law is designed for robotic manipulators, based on the use of reference velocities instead of the actual ones and feedback signals generated from position errors. The law in question is suitable for trajectory tracking and positioning tasks. Its peculiarities are implementation without velocity measurements and estimation, high signal-to-noise ratio in control torques and absence of parameter drift in positioning tasks. Experimental tests are shown with the aim to confirm the validity of the control law and to illustrate its actual effects on the behaviour of the system.
Energy Efficient Resource Allocation for OFDMA Two-Way Relay Networks with Channel Estimation Error
2015
In this work, we consider the practical issues of resource allocation problem in OFDMA two-way relay networks: the inaccuracy of channel-state information (CSI) available to the transmitters. Instead, only the estimated channel status is known by the transmitters. In this context, a joint optimization of subcarrier pairing and allocation, relay selection and transmit power allocation is formulated in the OFDMA two-way amplify-and-forward relay networks. Moreover, to ensure the Quality of Service (QoS) requirement, the energy consumption must be minimized without compromising the QoS. Therefore, by applying convex optimization techniques, energy efficient algorithms are developed with the ob…
Allocation of actuators and sensors for coupled-adjacent-building vibration attenuation
2013
An actuator and sensor allocation approach is proposed for the design of coupled-adjacent-building vibration suppression under seismic excitation. This paper first establishes a full-order model of adjacent buildings with the location information of actuators and sensors. Then, the order of the model is reduced via modal cost analysis, by retaining the modes contributing the most. In view of the fact that the output powers of the actuators are limited, this paper brings forward a mixed H∞/GH2 control. By considering that not all the states of the system can be measured by the sensors, a dynamic output feedback controller is designed. The genetic algorithm is employed to obtain the locations…