Dynamic adjustments in the United States and Canadian construction industries

1991 ◽  
Vol 21 (3) ◽  
pp. 326-332 ◽  
Author(s):  
Brett Gellner ◽  
Luis Constantino ◽  
Michael Percy
Keyword(s):  
United States ◽  
Decomposition Analysis ◽  
Adjustment Costs ◽  
The United States ◽  
Demand Substitution ◽  
Demand Elasticities ◽  
Long Run ◽  
Factor Demand ◽  
Wood Panels ◽  
Short Run

A factor demand dynamic model is estimated for the Canadian and United States construction industries using quarterly data from 1979 through 1986. The model allows for the existence of adjustment costs in the industry, related for example, to the innovative nature of some products. The demand for nonveneered structural wood panels is consistent with the behavior of an innovative product in the United States but not in Canada. A labor–capital composite input is not quasi-fixed in either country. Short-run adjustments, long-run demand elasticities, and biases of technical change are also derived. A decomposition analysis is used to investigate factors underlying the demand substitution of nonveneered structural wood panels for plywood.

The Impact of Monetary and Fiscal Policies on the Stock Market in the United States (U.S); Evidence from Linear ARDL Framework

2020 ◽  
Vol 11 (1) ◽  
pp. 132-132
Author(s):  
Aref Emamian
Keyword(s):  
United States ◽  
Stock Market ◽  
The United States ◽  
Real Effective Exchange Rate ◽  
Annual Data ◽  
Fiscal Policies ◽  
Long Run ◽  
The Us ◽  
Short Run ◽  
The Impact

This study examines the impact of monetary and fiscal policies on the stock market in the United States (US), were used. By employing the method of Autoregressive Distributed Lags (ARDL) developed by Pesaran et al. (2001). Annual data from the Federal Reserve, World Bank, and International Monetary Fund, from 1986 to 2017 pertaining to the American economy, the results show that both policies play a significant role in the stock market. We find a significant positive effect of real Gross Domestic Product and the interest rate on the US stock market in the long run and significant negative relationship effect of Consumer Price Index (CPI) and broad money on the US stock market both in the short run and long run. On the other hand, this study only could support the significant positive impact of tax revenue and significant negative impact of real effective exchange rate on the US stock market in the short run while in the long run are insignificant. Keywords: ARDL, monetary policy, fiscal policy, stock market, United States

scholarly journals Impact of Public Debt, Deficit and Debt Financing on Private Investment in a Large Country: Evidence from the United States

2020 ◽  
Vol 6 (2) ◽  
pp. 139-161
Author(s):  
Amir Kia
Keyword(s):  
Public Debt ◽  
Public Investment ◽  
Government Expenditure ◽  
Private Investment ◽  
Adjustment Costs ◽  
The United States ◽  
Direct Impact ◽  
Large Country ◽  
Long Run ◽  
Short Run

This paper analyses the direct impact of fiscal variables on private investment. The current literature ignores one or more fiscal variables and, in many cases, the foreign financing of debt. In this paper, an aggregate investment function for an economy in which firms incur adjustment costs in their investment process is developed. The developed model incorporates the direct impact of government expenditure, public debt and investment, deficits and foreign-financed debt on private investment. The model is tested on US data. It is found that public investment does not have any impact on private investment, but government expenditure, deficit, debt and foreign-financed debt crowd out private investment over the long run. However, deficit crowds in the private investment over the short run.

scholarly journals Export Tax Reform and the Competitiveness of Imported Soybeans in China

2019 ◽  
Vol 51 (3) ◽  
pp. 511-525 ◽  
Author(s):  
Andrew Muhammad ◽  
Constanza Valdes
Keyword(s):  
United States ◽  
Tax Reform ◽  
The United States ◽  
Import Demand ◽  
Chinese Market ◽  
Long Run ◽  
Export Tax ◽  
Export Taxes ◽  
Short Run ◽  
Demand Changes

AbstractExport tax reform in Argentina could improve its competitiveness in China’s soybean market, displacing exports from competing countries like Brazil and the United States. We examined the factors that determine China’s demand for imported soybean products and how export taxes could affect exporting countries. Using import demand and vector autoregression estimates, we conducted simulations of China’s import demand assuming the elimination of export taxes in Argentina. Results indicated that Argentine soybean products could realize gains in the Chinese market, but only in the short run. Projected import demand changes in the long run were insignificant for all exporting countries.

Innovations in Law

2020 ◽  
pp. 317-347
Author(s):  
B. Zorina Khan
Keyword(s):  
Common Law ◽  
Adjustment Costs ◽  
The United States ◽  
Legal Rules ◽  
Disruptive Technologies ◽  
Socioeconomic Changes ◽  
Long Run ◽  
Short Run ◽  
The Common

Administered systems involve regulation, while efficient markets in ideas require secure property rights and appropriate adjacent institutions. Disruptive technologies typically lead to institutional bottlenecks, which then require accommodations in legal rules and their enforcement. U.S. policy toward innovation and enterprise has always been distinguished by the central role of law and the judiciary. The evolution of legal rules and standards in the United States reveals a remarkable degree of flexibility and responsiveness to innovations. In the short run, the common law economized on legal adjustment costs through “adjudication by analogy,” whereas, in the long run, socioeconomic changes wrought by major inventions ultimately produced more fundamental adjustments in adjacent institutions. This institutional elasticity can be contrasted with the lack of transparency and rigidity that characterized most administered innovation institutions.

scholarly journals NAFTA, Social Unionism, and Labour Movement Power in Canada and the United States

2005 ◽  
Vol 49 (4) ◽  
pp. 657-695 ◽  
Author(s):  
Ian Robinson
Keyword(s):  
United States ◽  
Trade Agreement ◽  
The United States ◽  
Negative Effects ◽  
Labour Movement ◽  
Positive Effects ◽  
The North ◽  
Long Run ◽  
Short Run ◽  
Negative Impacts

This paper considers how the North American Free Trade Agreement (NAFTA) is likely to affect labour movement power in Canada and the United States. The paper is divided into four parts. It first defines the concept of « labour movement power », breaking it down into its component parts. It next considers why we should care about what happens to labour movement power. It then outlines the principal negative and positive effects that the NAFTA is likely to have on labour movement power. Attention is also given to the beneficial consequences that the fight against the NAFTA has already had for the labour movement. It is argued that the NAFTA 's negative impacts are likely to outweight its positive ones in the short run and that the positive effects could substantially outweight its negative effects over the medium to long run. Whether it does will depend upon choices made in the next few years by labour movement leaders and activists.

The United State and East Asia: A New Paradigm?

1994 ◽  
Vol 9 (0) ◽  
pp. 21-41
Author(s):  
Kyongsoo Lho
Keyword(s):  
United States ◽  
East Asia ◽  
The United States ◽  
New Paradigm ◽  
Economic Relations ◽  
Long Run ◽  
The Us ◽  
Short Run ◽  
The Cold War ◽  
First Time

The end of the Cold War has precipitated a major rethinking of the United States' international commitments in both the scholarly and policymaking communities. For the first time in nearly half a century, the United States is fundamentally reconsidering both its military and economic relations with the outside world. However, the debate over how to restructure US foreign policy has generally focused on Europe. When analysts have referred to Asia, the emphasis has generally been on economic problems in the region. Similarly, the thrust of these works has tended to remain short-term, looking at the immediate future. This paper challenges these viewpoints. It argues that East Asia is as important as Europe to the United States, for security as well as economic reasons. The paper looks at the long-run as well as short-run trends in East Asia, and argues that the issues the US will face in the future will not arise solely from its traditional adversaries-a major problem will be managing conflicts within alliances.

Economic Consequences of Recycling for the Canadian Newsprint Industry

1974 ◽  
Vol 4 (1) ◽  
pp. 15-22
Author(s):  
Thomas L. Tucker
Keyword(s):  
United States ◽  
The United States ◽  
Economic Consequences ◽  
Cost Curve ◽  
Eastern Canada ◽  
Real Cost ◽  
Long Run ◽  
Recycled Fiber ◽  
Short Run ◽  
The Right

The probable future structure of the Canadian newsprint industry is outlined and the likely economic consequences to Canadian newsprint producers of the increased consumption of newsprint made within the United States from recycled fiber is demonstrated. The overmature nature of the Canadian newsprint industry is shown. Old mills and plant capital, stabilized markets, asset fixity, and real cost increases are given as major short-run structural weaknesses, especially for eastern Canadian mills, which make the industry susceptible to marginal market shifts such as competition from recycled newsprint paper.Densely populated areas adjacent to eastern Canada are shown to attract not only the output from Ontario, Quebec, and the Maritimes but also the secondary fiber newsprint mills. Such an intrusion in the market, while marginal in effect, only magnifies the structural weaknesses of a mature industry.Two factors much more critical to the structure of the Canadian newsprint industry appear to be the probable movement up and to the right along the industry's long-run cost curve (real cost increases) and mill capacity increases within the United States. Changes in these two factors should overshadow the influence of recycling at least through 1985.

scholarly journals The Competitive Position of Major U.S. Potato Producing Regions

1974 ◽  
Vol 6 (1) ◽  
pp. 229-234 ◽  
Author(s):  
Richard A. Levins ◽  
Max R. Langham
Keyword(s):  
United States ◽  
The United States ◽  
Potato Industry ◽  
Programming Algorithm ◽  
Spatial Equilibrium ◽  
Long Run ◽  
Spatial Equilibrium Model ◽  
Spatial Dimensions ◽  
Short Run ◽  
Marketing Costs

This study utilizes a spatial equilibrium model to examine the equilibrium farm-level prices and production levels which may be expected for the major potato-producing regions in the United States, both in the short run and the long run under competitive conditions. The model encompasses both the temporal and spatial dimensions of the United States potato industry. The reactive programming algorithm was used to determine the equilibrium prices and quantities. Input requirements for the model include supply functions, demand functions, and intermediate marketing costs.

scholarly journals Corporate Farming in the United States

1973 ◽  
Vol 33 (1) ◽  
pp. 274-290 ◽  
Author(s):  
Philip M. Raup
Keyword(s):  
United States ◽  
Large Scale ◽  
The United States ◽  
Capital Gains ◽  
Land Use Patterns ◽  
Use Patterns ◽  
Long Run ◽  
Institutional Structures ◽  
Short Run ◽  
Corporate Farming

Corporate farming is not new in the United States. The companies of “gentlemen adventurers” setting out in the seventeenth century to establish settlements in the New World were not corporations in a modern sense, but in organizational form and motivation they bear a striking resemblance to corporation farming ventures of recent decades. The twin lures of short-run profits and long-run capital gains have been major forces in shaping land use patterns and institutional structures throughout America's history. For over 300 years repeated efforts were made to use large scale organizational forms to reap these rewards in agriculture. Up to 1950 the record was one of almost consistent failure.

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