Measuring Factor Adjustment Costs

By Robert E. Hall. 2004

265 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/740db626ac8b93fda0be4e249f1471d412d30916

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In Economics and Econometrics

Citations in the corpus

Engineering Value: The Returns to Technological Talent and Investments in Artificial Intelligence (2019, unknown): “These adjustment values for “vanilla” labor have been estimated at low values in the past (Hall 2004; Hall 2017).”
The Productivity J-Curve: How Intangibles Complement General Purpose Technologies (2018, unknown): “8 Following equation (6) in Hall (2000), if λλjj represents the marginal q value (incremental market value created divided by asset replacement cost), then the marginal adjustment cost for the firm (set by the firms’ competitors) at its chosen capital investment rate is set by: cc′ � kktt − (1 − δδ)”
The Costs of Hiring Skilled Workers (2012, result): “In contrast to the literature above, Hall (2004) estimates Euler equations and concludes that labor adjusts freely.”
The recent decline in employment dynamics (2013, background): “In addition to the direct costs associated with hiring and separations, there is also a well- developed literature on adjustment costs, including Hall (2004), Cooper, Haltiwanger, and Willis (2004), and Bloom (2009), which tends to focus on the indirect costs associated with changes in employment…”
The High Sensitivity of Economic Activity to Financial Frictions (2011, methodology): “I use a standard value for the adjustment cost for plant and equipment – see Hall (2004) for citations.”
Investment‐Based Expected Stock Returns (2009, background): “Hall (2004) also shows that nonconvexities are not important for estimating investment Euler equations at the industry level.”