Capital Adjustment Costs, Labor Hoarding and Production Flexibility
2019/12/24
研討會日期 : 2019-12-24
時間 : 14:30
主講人 : Professor Wen-Chieh Lee (李文傑)
主持人 : Professor Hsuan-Chih Lin
地點 : Conference Room B110
演講者簡介 : Professor Lee received his Ph.D. in Economics from Washington University in St.Louis. He is currently an Associate Professor at National Chengchi University. His research field is Macroeconomics.
演講摘要 : High industry-level input adjustment costs have long claimed to be key influencing factors endangering aggregated total factor productivity across different manufacturing sectors or economies. However, no reliable or solid evidence on whether heterogeneous within-industry firm-level adjustment costs would exist in modern manufacturing sectors. That is firm's input adoption decision regarding the capital adjustment costs, labor hoarding correlating with firm's production flexibility. However, literatures also have vague results regarding the impacts of adjustment costs on firm’s performance in terms of profitability and unit production costs. Thus, this research has first to develop the measurement on input adjustment costs. We then investigate whether the heterogeneous firm-level adjustment costs would really exist in the ICT industry. The current research is to fully endogenize the original factors influencing firm’s production flexibility linking with firm-level adjustment costs and address the measurement that fully reflect firms’ production flexibility in terms of different adjustment costs. Besides, steps to construct and then utilize a firm-level dataset itemizing on operation details can clarify the ICT firm-level performance properly. This enables us to gain better insight toward understanding specifically the crucial mechanism driving firms' input adoption decision. Such an endeavor also permits counterfactual policy experiments in the future to use a structural model consistent with the empirically verified heterogeneous firm-level adjustment costs existing in the industry.
