scholarly journals Total factor productivity and the propagation of shocks: Empirical evidence and implications for the business cycle

2016 ◽  
Vol 50 ◽  
pp. 335-346 ◽  
Author(s):  
Eric Mayer ◽  
Sebastian Rüth ◽  
Johann Scharler
Keyword(s):  
Business Cycle ◽  
Empirical Evidence ◽  
Total Factor Productivity ◽  
Factor Productivity ◽  
The Business Cycle

scholarly journals Market Exposure and Endogenous Firm Volatility over the Business Cycle

2016 ◽  
Vol 8 (1) ◽  
pp. 148-198 ◽  
Author(s):  
Ryan A. Decker ◽  
Pablo N. D'Erasmo ◽  
Hernan Moscoso Boedo
Keyword(s):  
Theoretical Model ◽  
Business Cycle ◽  
Total Factor Productivity ◽  
Factor Productivity ◽  
Firm Level ◽  
Productivity Shocks ◽  
Demand Shocks ◽  
The Business Cycle ◽  
Total Factor Productivity Shocks

We propose a theory of endogenous firm-level risk over the business cycle based on endogenous market exposure. Firms that reach a larger number of markets diversify market-specific demand shocks at a cost. The model is driven only by total factor productivity shocks and captures the observed countercyclity of firm-level risk. Using a panel of US firms we show that, consistent with our theoretical model, measures of market reach are procyclical, and the counter-cyclicality of firm-level risk is driven by those firms that adjust their market exposure, which are larger than those that do not. (JEL D21, D22, E23, E32, L25)

scholarly journals Economic size of farms and adjustments of the total factor productivity to the business cycle in Polish agriculture  

2017 ◽  
Vol 63 (No. 2) ◽  
pp. 93-102
Author(s):  
 Czyzewski Bazyli ◽  
 Majchrzak Adam
Keyword(s):  
Business Cycle ◽  
Total Factor Productivity ◽  
Large Scale ◽  
Developed Countries ◽  
Factor Productivity ◽  
Input Output ◽  
The Real ◽  
Agricultural Income ◽  
The Business Cycle ◽  
Economic Size

The article presents an approach to changes in the total factor productivity (TFP) which differs from that generally found in the literature. Changes are calculated in the real terms using the detailed input-output matrices for representative farms in Poland, for different economic size classes, in the years 2007–2013. Input-output matrices were used for the decomposition of the Hicks-Moorsteen TFP index. The goal is to evaluate changes in the real TFP in the downturn and recovery phases of the business cycle in agriculture. It was found that the reaction of TFP to business cycle changes on “small”, “medium” and even “large” family farms in Poland is diametrically opposite to that observed in the case of large-scale farms. More than 90% of farms in Poland (except for the largest) increase technical productivity in the conditions of the economic downturn and lower it in the conditions of the economic recovery. Such behaviour is pro-cyclic and irrational, alluding to the 17th-century King’s effect, which is vanishing in the agricultural systems of highly developed countries. The hypothesis is proposed that the size of the price expectation error which causes that effect is negatively correlated with the economic size of the farm, but at the same time it is proportional to the percentage of agricultural income obtained from subsidies and other payments under the SAPS system.  

scholarly journals Analysis of Total Factor Productivity Changes in Islamic and Conventional Banks: Empirical Evidence from Three Regions

2020 ◽  
Vol 9 (3) ◽  
pp. 161-180
Author(s):  
Ribed Vianneca W. Jubilee ◽  
Fakarudin Kamarudin ◽  
Hafezali Iqbal Hussain ◽  
Ahmed Razman Abdul Latiff ◽  
Nurazilah Zainal
Keyword(s):  
Empirical Evidence ◽  
Total Factor Productivity ◽  
Factor Productivity ◽  
Conventional Banks
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