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- Title: sakellaris0001
- Type: Notes
- School: Maryland
- Course: ECON 0001
- Term: Fall
FIGURE 1: INVESTMENT SPIKE (MATCHED SAMPLE) Frequency of Technology Class Event Population Continuous Processors Variable Workquarter Other 446 980 589 22.1% 48.6% 29.2% Total Population 2,611 4,127 2,639 27.8% 44.0% 28.1% 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% t-2 t-1 t t+1 t+2 Total Pop. a. Frequency of State 7 6 5 4 3 2 1 b. Distribution of Events Total 140 120 100 80 60 40 20 0 81 82 83 Year 84 85 86 -0.06 -0.08 t-2 t-1 t 0 -0.02 -0.04 c. Other 0.04 0.02 Growth Rate of Annual Output Annual Output (log) Continuous Processors Variable Workquarter t+1 t+2 other std err d. Equipment Investment-Capital Ratio 0.3 0.03 e. Capital Stock (log) Growth Rate of Production Workers (Annual Average) Growth Rate of Non-Production Workers (Annual Average) 0.2 0.1 0 -0.1 -0.2 -0.3 t-2 t-1 t t+1 t+2 other std err 0.02 0.01 0 -0.01 -0.02 -0.03 -0.04 t-2 t-1 t t+1 t+2 other std err FIGURE 1: INVESTMENT SPIKE (MATCHED SAMPLE) f. Production Workers (Annual Average, log) Non-Production Workers (Annual Average, log) 0.06 0.04 0.02 0 -0.02 -0.04 -0.06 -0.08 t-2 t-1 t t+1 t+2 other std err Total Labor Hours (log) g. Skilled Workers Share of Employment (log) 0.03 0.02 0.01 0 -0.01 -0.02 -0.03 t-2 t-1 t t+1 t+2 other std err Skilled Workers Share of Wages (log) h. Energy to Capital Use (log) Capital Labor Intensity (log) 0.25 0.2 0.15 0.1 0.05 0 -0.05 -0.1 -0.15 -0.2 t-2 t-1 t t+1 t+2 other std err Materials to Capital Use (log) 0.05 0 -0.05 -0.1 -0.15 -0.2 t-2 t-1 t Energy to Capital Services Use (log) i. Materials to Capital Services Use (log) t+1 t+2 other std err j. Overtime Hours/Total Production Worker Hours (4th Quarter) Actual to Capacity Hours per Worker (4th Quarter) Hours per Worker (log) 0.015 0.01 0.005 0 -0.005 -0.01 -0.015 -0.02 -0.025 t-2 t-1 t t+1 t+2 other std err 0.02 0.01 0 -0.01 -0.02 -0.03 -0.04 t-2 t-1 t Workquarter of Capital (Annual Average, log) k. Actual to Capacity Workquarter (Annual Average) t+1 t+2 other std err FIGURE 1: INVESTMENT SPIKE (MATCHED SAMPLE) l. Distribution of Shift Changes Since T-2 1 to 2, 3 100% 0.25 m. Share of Change in Workquarter Due to Shift Changes Total Continuous Processors Variable Workquarter Other 2 to 3 No Change 3 to 2,1 2 to 1 0.3 80% 0.2 60% 40% 20% 0% t-1 t t+1 t+2 0.15 0.1 0.05 0 t-1 t t+1 t+2 n. Capacity Utilization (4th Quarter) 0.02 0.01 0 -0.01 -0.02 -0.03 -0.04 -0.05 t-2 t-1 t t+1 t+2 other std err 0.03 0.02 0.01 0 -0.01 -0.02 -0.03 -0.04 -0.05 -0.06 t-2 t-1 t o. Capacity Utilization (Annual Average) Growth Rate of Labor Productivity Growth Rate of TFP Utilization-Adjusted Growth Rate of Total Factor Productivity t+1 t+2 other std err p. Average Labor Productivity (log) TFP Utilization-Adjusted (log) 0.03 0.02 0.01 0 -0.01 -0.02 -0.03 -0.04 -0.05 t-2 t-1 t t+1 t+2 other std err 0.01 0 -0.01 -0.02 -0.03 -0.04 t-2 q. Actual to Capacity Workquarter (Annual Average) Total Factor Productivity (log) 0.03 0.02 Continuous Processors Variable Workquarter Other t-1 t t+1 t+2 other std err FIGURE 1: INVESTMENT SPIKE (MATCHED SAMPLE) r. Workquarter of Capital (Annual Average, log) Continuous Processors 0.04 0.03 0.02 0.01 0 -0.01 -0.02 -0.03 -0.04 -0.05 -0.06 t-2 t-1 t t+1 t+2 other std err Variable Workquarter Other 0.06 0.05 0.04 0.03 0.02 0.01 0 -0.01 -0.02 -0.03 -0.04 -0.05 t-2 t-1 t t+1 t+2 other std err s. Capacity Utilization (4th Quarter) Continuous Processors Variable Workquarter Other t. Energy to Capital Use (log) Continuous Processors 0.2 0.15 0.1 0.05 0 -0.05 -0.1 -0.15 -0.2 -0.25 t-2 t-1 t t+1 t+2 other std err Variable Workquarter Other u. Energy to Capital Services Use (log) Continuous Processors 0.2 0.15 0.1 0.05 0 -0.05 -0.1 -0.15 -0.2 -0.25 t-2 t-1 t t+1 t+2 other std err Variable Workquarter Other v. Materials to Capital Use (log) Continuous Processors 0.15 0.1 0.05 0 -0.05 -0.1 -0.15 -0.2 t-2 t-1 t t+1 t+2 other std err Variable Workquarter Other w. Materials to Capital Services Use (log) Continuous Processors 0.15 0.1 0.05 0 -0.05 -0.1 -0.15 -0.2 t-2 t-1 t t+1 t+2 other std err Variable Workquarter Other FIGURE 2: INVESTMENT SPIKE (BALANCED-LRD SAMPLE) Frequency of Technology Class Total a. Distribution of Events Continuous Processors Variable Workquarter Other Event Population Continuous Processors Variable Workquarter Other 8,432 33,985 34,411 11.0% 44.2% 44.8% Total Population 24,923 82,842 77,151 13.5% 44.8% 41.7% 1600 1400 1200 1000 800 600 400 200 0 76 77 78 79 80 81 82 83 84 85 86 87 88 89 Year b. Growth Rate of Annual Output 0.04 0.02 0 -0.02 -0.04 -0.06 -0.08 -0.1 t-2 t-1 t t+1 t+2 other std err Annual Output (log) c. Equipment Investment-Capital Ratio 0.3 0.2 0.1 0 -0.1 -0.2 -0.3 -0.4 t-2 t-1 t t+1 t+2 other std err Capital Stock (log) d. Growth Rate of Production Workers (Annual Average) Growth Rate of Non-Production Workers (Annual Average) 0.01 0.06 0 -0.01 -0.02 -0.03 -0.04 -0.05 t-2 t-1 t t+1 t+2 other std err 0.04 0.02 0 -0.02 -0.04 -0.06 -0.08 -0.1 t-2 t-1 t e. Production Workers (Annual Average, log) Non-Production Workers (Annual Average, log) Total Labor Hours (log) t+1 t+2 other std err FIGURE 2: INVESTMENT SPIKE (BALANCED-LRD SAMPLE) f. Skilled Workers Share of Employment (log) Hours per Worker (log) 0.025 0.02 0.015 0.01 0.005 0 -0.005 -0.01 -0.015 t-2 t-1 t t+1 t+2 other std err Skilled Workers Share of Wages (log) g. Energy to Capital Use (log) Capital Labor Intensity (log) 0.3 0.2 0.1 0 -0.1 -0.2 -0.3 t-2 t-1 t t+1 t+2 other std err Materials to Capital Use (log) h. Growth Rate of Labor Productivity 0.01 0.005 0 -0.005 -0.01 -0.015 -0.02 t-2 t-1 t t+1 t+2 other std err Growth Rate of Total Factor Productivity i. Average Labor Productivity (log) 0.005 0 -0.005 -0.01 -0.015 -0.02 -0.025 t-2 t-1 t t+1 t+2 other std err Total Factor Productivity (log) j. Annual Output (log) Continuous Processors 0.04 0.02 0 -0.02 -0.04 -0.06 -0.08 -0.1 -0.12 t-2 t-1 t t+1 t+2 other std err Variable Workquarter Other 0.04 0.02 0 -0.02 -0.04 -0.06 -0.08 -0.1 -0.12 t-2 k. Production Workers (Annual Average, log) Continuous Processors Variable Workquarter Other t-1 t t+1 t+2 other std err FIGURE 2: INVESTMENT SPIKE (BALANCED-LRD SAMPLE) l. Non-Production Workers (Annual Average, log) Continuous Processors 0.08 0.06 0.04 0.02 0 -0.02 -0.04 -0.06 -0.08 -0.1 t-2 t-1 t t+1 t+2 other std err Variable Workquarter Other m. Average Labor Productivity (log) Continuous Processors 0.025 0.02 0.015 0.01 0.005 0 -0.005 -0.01 -0.015 -0.02 t-2 t-1 t t+1 t+2 other std err Variable Workquarter Other n. Total Factor Productivity (log) Continuous Processors 0.02 0.01 0 -0.01 -0.02 -0.03 -0.04 -0.05 t-2 t-1 t t+1 t+2 other std err Variable Workquarter Other 0.05 0 -0.05 -0.1 -0.15 -0.2 -0.25 -0.3 t-2 t-1 o. Energy to Capital Use (log) Continuous Processors Variable Workquarter Other t t+1 t+2 other std err p. Materials to Capital Use (log) Continuous Processors 0.05 0 -0.05 -0.1 -0.15 -0.2 -0.25 -0.3 t-2 t-1 t t+1 t+2 other std err Variable Workquarter Other q. Capital Labor Intensity (log) Continuous Processors 0.3 0.25 0.2 0.15 0.1 0.05 0 t-2 t-1 t t+1 t+2 other std err Variable Workquarter Other FIGURE 3: NEGATIVE EMPLOYMENT GROWTH (MATCHED SAMPLE) Frequency of Technology Class Event Population Continuous Processors Variable Workquarter Other 570 924 513 28.4% 46.0% 25.6% Total Population 2,611 4,127 2,639 27.8% 44.0% 28.1% 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% t-2 t-1 t t+1 t+2 Total Pop. a. Frequency of State 7 6 5 4 3 2 1 b. Distribution of Events Total 200 150 100 50 0 81 82 83 Year 84 85 86 Continuous Processors Variable Workquarter Other c. Growth Rate of Annual Output 0.2 0.15 0.1 0.05 0 -0.05 t-2 t-1 t t+1 t+2 other std err Annual Output (log) d. Equipment Investment-Capital Ratio 0.03 0.02 0.01 0 -0.01 -0.02 -0.03 -0.04 t-2 t-1 t t+1 t+2 other std err 0.25 0.2 0.15 0.1 0.05 0 -0.05 -0.1 t-2 t-1 t Capital Stock (log) e. Growth Rate of Production Workers (Annual Average) Growth Rate of Non-Production Workers (Annual Average) t+1 t+2 other std err FIGURE 3: NEGATIVE EMPLOYMENT GROWTH (MATCHED SAMPLE) f. Production Workers (Annual Average, log) Non-Production Workers (Annual Average, log) Total Labor Hours (log) 0.25 0.2 0.15 0.1 0.05 0 -0.05 -0.1 -0.15 t-2 t-1 t t+1 t+2 other std err 0.05 0 -0.05 -0.1 -0.15 t-2 t-1 t t+1 t+2 other std err Skilled Workers Share of Employment (log) Skilled Workers Share of Wages (log) g. h. Energy to Capital Services Use (log) 0.14 0.12 0.1 0.08 0.06 0.04 0.02 0 -0.02 i. Materials to Capital Services Use (log) Energy to Capital Use (log) Capital Labor Intensity (log) 0.2 0.15 0.1 0.05 0 -0.05 -0.1 -0.15 -0.2 t-2 t-1 t t+1 Materials to Capital Use (log) t+2 other std err t-2 t-1 t t+1 t+2 other std err j. Overtime Hours/Total Production Worker Hours (4th Quarter) Actual to Capacity Hours per Worker (4th Quarter) Hours per Worker (log) 0.03 0.02 0.01 0 -0.01 -0.02 t-2 t-1 t t+1 t+2 other std err k. Workquarter of Capital (Annual Average, log) Actual to Capacity Workquarter (Annual Average) 0.05 0.04 0.03 0.02 0.01 0 t-2 t-1 t t+1 t+2 other std err FIGURE 3: NEGATIVE EMPLOYMENT GROWTH (MATCHED SAMPLE) l. Distribution of Shift Changes Since T-2 1 to 2, 3 100% 80% 60% 40% 20% 0% t-1 t t+1 t+2 2 to 3 No Change 3 to 2,1 2 to 1 m. Share of Change in Workquarter Due to Shift Changes Total 0.4 0.35 0.3 0.25 0.2 0.15 0.1 0.05 0 t-1 t t+1 t+2 Continuous Processors Variable Workquarter Other n. Capacity Utilization (4th Quarter) 0.1 0.08 0.06 0.04 0.02 0 t-2 t-1 t t+1 t+2 other std err 0.06 0.05 0.04 0.03 0.02 0.01 0 t-2 t-1 t o. Capacity Utilization (Annual Average) Growth Rate of Labor Productivity Growth Rate of Total Factor Productivity Growth Rate of TFP Utilization-Adjusted t+1 t+2 other std err p. Average Labor Productivity (log) TFP Utilization-Adjusted (log) 0.07 0.06 0.05 0.04 0.03 0.02 0.01 0 t-2 t-1 t t+1 t+2 other std err Total Factor Productivity (log) 0.04 0.03 0.02 0.01 0 -0.01 -0.02 t-2 q. Actual to Capacity Workquarter (Annual Average) Continuous Processors Variable Workquarter Other t-1 t t+1 t+2 other std err FIGURE 3: NEGATIVE EMPLOYMENT GROWTH (MATCHED SAMPLE) r. Workquarter of Capital (Annual Average, log) Continuous Processors 0.06 0.05 0.04 0.03 0.02 0.01 0 -0.01 t-2 t-1 t t+1 t+2 other std err 0.02 0 t-2 t-1 t t+1 t+2 other std err 0.06 0.04 s. Capacity Utilization (4th Quarter) Other 0.1 0.08 Continuous Processors Variable Workquarter Other Variable Workquarter t. Energy to Capital Use (log) Continuous Processors 0.16 0.14 0.12 0.1 0.08 0.06 0.04 0.02 0 -0.02 t-2 t-1 t t+1 t+2 other std err Variable Workquarter Other u. Energy to Capital Services Use (log) Continuous Processors 0.14 0.12 0.1 0.08 0.06 0.04 0.02 0 -0.02 t-2 t-1 t t+1 t+2 other std err Variable Workquarter Other v. Materials to Capital Use (log) Continuous Processors 0.2 0.15 0.1 0.05 0 -0.05 -0.1 t-2 t-1 t t+1 t+2 other std err 0.15 0.1 0.05 0 -0.05 -0.1 t-2 w. Materials to Capital Services Use (log) Other 0.2 Continuous Processors Variable Workquarter Other Variable Workquarter t-1 t t+1 t+2 other std err FIGURE 4: NEGATIVE EMPLOYMENT GROWTH (BALANCED-LRD SAMPLE) Frequency of Technology Class Event Population Continuous Processors Variable Workquarter Other 7,551 31,158 25,518 11.8% 48.5% 39.7% Total Population 24,923 82,842 77,151 13.5% 44.8% 41.7% 2500 2000 1500 1000 500 0 76 77 78 79 80 81 82 83 84 85 86 87 88 89 Year Total a. Distribution of Events Continuous Processors Variable Workquarter Other b. Growth Rate of Annual Output 0.25 0.2 0.15 0.1 0.05 0 -0.05 t-2 t-1 t t+1 t+2 other std err Annual Output (log) c. Equipment Investment-Capital Ratio 0.03 0.02 0.01 0 -0.01 -0.02 -0.03 -0.04 -0.05 -0.06 t-2 t-1 t t+1 t+2 other std err Capital Stock (log) d. e. Production Workers (Annual Average, log) Growth Rate of Production Workers (Annual Average) Growth Rate of Non-Production Workers (Annual Average) 0.3 0.25 0.2 0.15 0.1 0.05 0 -0.05 t-2 t-1 t t+1 t+2 other std err 0.3 0.25 0.2 0.15 0.1 0.05 0 -0.05 -0.1 t-2 t-1 Non-Production Workers (Annual Average, log) Total Labor Hours (log) t t+1 t+2 other std err FIGURE 4: NEGATIVE EMPLOYMENT GROWTH (BALANCED-LRD SAMPLE) f. Skilled Workers Share of Employment (log) Skilled Workers Share of Wages (log) Hours per Worker (log) 0.05 0 -0.05 -0.1 -0.15 -0.2 t-2 t-1 t t+1 t+2 other std err g. Energy to Capital Use (log) Capital Labor Intensity (log) 0.3 0.2 0.1 0 -0.1 -0.2 -0.3 t-2 t-1 t t+1 Materials to Capital Use (log) t+2 other std err h. Growth Rate of Labor Productivity 0.03 0.025 0.02 0.015 0.01 0.005 0 -0.005 -0.01 -0.015 t-2 t-1 t t+1 t+2 other std err Growth Rate of Total Factor Productivity 0.03 0.025 0.02 0.015 0.01 0.005 0 -0.005 t-2 t-1 t i. Average Labor Productivity (log) Total Factor Productivity (log) t+1 t+2 other std err j. Annual Output (log) Continuous Processors 0.25 0.2 0.15 0.1 0.05 0 -0.05 t-2 t-1 t t+1 t+2 other std err Variable Workquarter Other 0.3 0.25 0.2 0.15 0.1 0.05 0 -0.05 t-2 k. Production Workers (Annual Average, log) Continuous Processors Variable Workquarter Other t-1 t t+1 t+2 other std err FIGURE 4: NEGATIVE EMPLOYMENT GROWTH (BALANCED-LRD SAMPLE) l. Non-Production Workers (Annual Average, log) Continuous Processors 0.06 0.04 0.02 0 -0.02 -0.04 -0.06 -0.08 -0.1 t-2 t-1 t t+1 t+2 other std err Variable Workquarter Other 0.05 0.04 0.03 0.02 0.01 0 -0.01 -0.02 -0.03 t-2 t-1 t t+1 t+2 other std err m. Average Labor Productivity Continuous Processors Variable Workquarter Other n. Total Factor Productivity (log) Continuous Processors 0.04 0.035 0.03 0.025 0.02 0.015 0.01 0.005 0 t-2 t-1 t t+1 t+2 other std err Variable Workquarter Other 0.16 0.14 0.12 0.1 0.08 0.06 0.04 0.02 0 t-2 t-1 o. Energy to Capital Use (log) Continuous Processors Variable Workquarter Other t t+1 t+2 other std err p. Materials to Capital Use (log) Continuous Processors 0.25 0.2 0.15 0.1 0.05 0 -0.05 t-2 t-1 t t+1 t+2 other std err Variable Workquarter Other 0.05 0 -0.05 -0.1 -0.15 -0.2 -0.25 t-2 t-1 q. Capital Labor Intensity (log) Continuous Processors Variable Workquarter Other t t+1 t+2 other std err FIGURE 5: POSITIVE EMPLOYMENT GROWTH (MATCHED SAMPLE) Frequency of Technology Class Event Population Continuous Processors Variable Workquarter Other 138 554 337 13.4% 53.8% 32.8% Total Population 2,611 4,127 2,639 27.8% 44.0% 28.1% 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% t-2 t-1 t t+1 t+2 Total Pop. a. Frequency of State 7 6 5 4 3 2 1 b. Distribution of Events Total 70 60 50 40 30 20 10 0 81 82 83 Year 84 85 86 Continuous Processors Variable Workquarter Other c. Growth Rate of Annual Output 0.1 0.05 0 -0.05 -0.1 -0.15 -0.2 -0.25 t-2 t-1 t t+1 t+2 other std err Annual Output (log) d. Equipment Investment-Capital Ratio 0.08 0.06 0.04 0.02 0 -0.02 -0.04 -0.06 t-2 t-1 t t+1 t+2 other std err 0.1 0.05 0 -0.05 -0.1 -0.15 -0.2 -0.25 -0.3 t-2 t-1 t Capital Stock (log) e. Growth Rate of Production Workers (Annual Average) Growth Rate of Non-Production Workers (Annual Average) t+1 t+2 other std err FIGURE 5: POSITIVE EMPLOYMENT GROWTH (MATCHED SAMPLE) f. Production Workers (Annual Average, log) Non-Production Workers (Annual Average, log) Total Labor Hours (log) 0.1 0.05 0 -0.05 -0.1 -0.15 -0.2 -0.25 -0.3 t-2 t-1 t t+1 t+2 other std err 0.2 0.15 0.1 0.05 0 -0.05 t-2 t-1 t t+1 t+2 other std err Skilled Workers Share of Employment (log) Skilled Workers Share of Wages (log) g. h. Energy to Capital Use (log) Capital Labor Intensity (log) 0.2 0.15 0.1 0.05 0 -0.05 -0.1 -0.15 -0.2 -0.25 t-2 t-1 t t+1 t+2 other std err Materials to Capital Use (log) 0.1 0.05 0 -0.05 -0.1 -0.15 -0.2 t-2 t-1 t Energy to Capital Services Use (log) i. Materials to Capital Services Use (log) t+1 t+2 other std err j. Overtime Hours/Total Production Worker Hours (4th Quarter) Actual to Capacity Hours per Worker (4th Quarter) Hours per Worker (log) 0.04 0.03 0.02 0.01 0 -0.01 -0.02 -0.03 t-2 t-1 t t+1 t+2 other std err k. Workquarter of Capital (Annual Average, log) Actual to Capacity Workquarter (Annual Average) 0.05 0.04 0.03 0.02 0.01 0 -0.01 -0.02 -0.03 -0.04 t-2 t-1 t t+1 t+2 other std err FIGURE 5: POSITIVE EMPLOYMENT GROWTH (MATCHED SAMPLE) l. Distribution of Shift Changes Since T-2 1 to 2, 3 100% 80% 60% 40% 20% 0% t-1 t t+1 t+2 2 to 3 No Change 3 to 2,1 2 to 1 0.3 0.25 0.2 0.15 0.1 0.05 0 t-1 t t+1 t+2 Total m. Share of Change in Workquarter Due to Shift Changes Continuous Processors Variable Workquarter Other n. o. Growth Rate of Labor Productivity Growth Rate of Total Factor Productivity Capacity Utilization (Annual Average) Capacity Utilization (4th Quarter) 0.06 0.04 0.02 0 -0.02 -0.04 -0.06 -0.08 -0.1 t-2 t-1 t t+1 Growth Rate of TFP Utilization-Adjusted 0.06 0.04 0.02 0 -0.02 -0.04 t+2 other std err t-2 t-1 t t+1 t+2 other std err p. Average Labor Productivity (log) TFP Utilization-Adjusted (log) 0.08 q. Actual to Capacity Workquarter (Annual Average) Total Factor Productivity (log) Continuous Processors Variable Workquarter Other 0.06 0.04 0.02 0 -0.02 -0.04 t-2 t-1 t t+1 t+2 other std err 0.06 0.04 0.02 0 -0.02 -0.04 t-2 t-1 t t+1 t+2 other std err FIGURE 5: POSITIVE EMPLOYMENT GROWTH (MATCHED SAMPLE) r. Workquarter of Capital (Annual Average, log) Continuous Processors 0.1 0.08 0.06 0.04 0.02 0 -0.02 -0.04 -0.06 t-2 t-1 t t+1 t+2 other std err Variable Workquarter Other 0.15 0.1 0.05 0 -0.05 -0.1 -0.15 t-2 t-1 t t+1 t+2 other std err s. Capacity Utilization (4th Quarter) Continuous Processors Variable Workquarter Other t. Energy to Capital Use (log) Continuous Processors 0.35 0.3 0.25 0.2 0.15 0.1 0.05 0 -0.05 -0.1 -0.15 -0.2 t-2 t-1 t t+1 t+2 other std err Variable Workquarter Other u. Energy to Capital Services Use (log) Continuous Processors 0.4 0.3 0.2 0.1 0 -0.1 -0.2 t-2 t-1 t t+1 t+2 other std err Variable Workquarter Other v. Materials to Capital Use (log) Continuous Processors 0.3 0.2 0.1 0 -0.1 -0.2 -0.3 t-2 t-1 t t+1 t+2 other std err Variable Workquarter Other 0.25 0.2 0.15 0.1 0.05 0 -0.05 -0.1 -0.15 -0.2 -0.25 t-2 w. Materials to Capital Services Use (log) Continuous Processors Variable Workquarter Other t-1 t t+1 t+2 other std err FIGURE 6: POSITIVE EMPLOYMENT GROWTH (BALANCED-LRD SAMPLE) Frequency of Technology Class Event Population Continuous Processors Variable Workquarter Other 5,058 26,737 23,792 9.1% 48.1% 42.8% Total Population 24,923 82,842 77,151 13.5% 44.8% 41.7% 1400 1200 1000 800 600 400 200 0 76 77 78 79 80 81 82 83 84 85 86 87 88 89 Year Total a. Distribution of Events Continuous Processors Variable Workquarter Other b. Growth Rate of Annual Output 0.05 0 -0.05 -0.1 -0.15 -0.2 t-2 t-1 t t+1 t+2 other std err Annual Output (log) 0.08 0.06 0.04 0.02 0 -0.02 -0.04 -0.06 t-2 t-1 t c. Equipment Investment-Capital Ratio Capital Stock (log) t+1 t+2 other std err d. e. Production Workers (Annual Average, log) Non-Production Workers (Annual Average, log) Total Labor Hours (log) 0.1 0.05 0 -0.05 -0.1 -0.15 -0.2 -0.25 -0.3 Growth Rate of Production Workers (Annual Average) Growth Rate of Non-Production Workers (Annual Average) 0.05 0 -0.05 -0.1 -0.15 -0.2 -0.25 -0.3 t-2 t-1 t t+1 t+2 other std err t-2 t-1 t t+1 t+2 other std err FIGURE 6: POSITIVE EMPLOYMENT GROWTH (BALANCED-LRD SAMPLE) f. Skilled Workers Share of Employment (log) Skilled Workers Share of Wages (log) Hours per Worker (log) 0.2 0.15 0.1 0.05 0 t-2 t-1 t t+1 t+2 other std err g. Energy to Capital Use (log) Capital Labor Intensity (log) 0.2 0.15 0.1 0.05 0 -0.05 -0.1 -0.15 -0.2 t-2 t-1 t t+1 t+2 other std err Materials to Capital Use (log) h. Growth Rate of Labor Productivity 0.03 0.025 0.02 0.015 0.01 0.005 0 -0.005 -0.01 -0.015 t-2 t-1 t t+1 t+2 other std err Growth Rate of Total Factor Productivity 0.02 0.015 0.01 0.005 0 -0.005 -0.01 -0.015 t-2 t-1 t i. Average Labor Productivity (log) Total Factor Productivity (log) t+1 t+2 other std err j. Annual Output (log) Continuous Processors Variable Workquarter Other k. Production Workers (Annual Average, log) Continuous Processors Variable Workquarter Other 0.05 0 -0.05 -0.1 -0.15 -0.2 -0.25 t-2 t-1 t t+1 t+2 other std err 0.05 0 -0.05 -0.1 -0.15 -0.2 -0.25 -0.3 t-2 t-1 t t+1 t+2 other std err FIGURE 6: POSITIVE EMPLOYMENT GROWTH (BALANCED-LRD SAMPLE) l. Non-Production Workers (Annual Average, log) Continuous Processors Variable Workquarter Other m. Average Labor Productivity (log) Continuous Processors Variable Workquarter Other 0.1 0.08 0.06 0.04 0.02 0 -0.02 -0.04 -0.06 t-2 t-1 t t+1 t+2 other std err 0.04 0.03 0.02 0.01 0 -0.01 -0.02 t-2 t-1 t t+1 t+2 other std err n. Total Factor Productivity (log) Continuous Processors Variable Workquarter Other o. Energy to Capital Use (log) Continuous Processors Variable Workquarter Other 0.02 0.01 0 -0.01 -0.02 -0.03 t-2 t-1 t t+1 t+2 other std err 0.04 0.02 0 -0.02 -0.04 -0.06 -0.08 -0.1 -0.12 t-2 t-1 t t+1 t+2 other std err p. Materials to Capital Use (log) Continuous Processors Variable Workquarter Other q. Capital Labor Intensity (log) Continuous Processors Variable Workquarter Other 0.05 0 -0.05 -0.1 -0.15 -0.2 -0.25 t-2 t-1 t t+1 t+2 other std err 0.2 0.15 0.1 0.05 0 -0.05 t-2 t-1 t t+1 t+2 other std err
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Path: Maryland >> ECON >> 3 Fall, 2008
Path: Maryland >> ECON >> 1 Fall, 2008
Path: Maryland >> ATMOS >> 617 Fall, 2008
Path: Maryland >> ECON >> 200 Fall, 2008
Path: Maryland >> ECON >> 200 Fall, 2008
Path: Maryland >> ECON >> 200 Fall, 2008
Path: Maryland >> ECON >> 200 Fall, 2008
Path: Maryland >> ECON >> 200 Fall, 2008
Path: Maryland >> ECON >> 200 Fall, 2008
Path: Maryland >> ECON >> 200 Fall, 2008
Path: Maryland >> ECON >> 200 Fall, 2008
Path: Maryland >> ECON >> 200 Fall, 2008
Path: Maryland >> ECON >> 200 Fall, 2008
Path: Maryland >> ECON >> 200 Fall, 2008
Path: Maryland >> ECON >> 200 Fall, 2008
Path: Maryland >> ECON >> 200 Fall, 2008
Path: Maryland >> ECON >> 200 Fall, 2008
Path: Maryland >> ECON >> 200 Fall, 2008
Path: Maryland >> ECON >> 200 Fall, 2008
Path: Maryland >> ECON >> 200 Fall, 2008
Path: Maryland >> ECON >> 200 Fall, 2008
Path: Maryland >> ECON >> 200 Fall, 2008
Path: Maryland >> ECON >> 200 Fall, 2008
Path: Maryland >> ECON >> 200 Fall, 2008
Path: Maryland >> ECON >> 200 Fall, 2008
Path: Maryland >> ECON >> 200 Fall, 2008
Path: Maryland >> ECON >> 200 Fall, 2008
Path: Maryland >> ECON >> 200 Fall, 2008
Path: Maryland >> ECON >> 200 Fall, 2008
Path: Maryland >> ECON >> 200 Fall, 2008
Path: Maryland >> ECON >> 200 Fall, 2008
Path: Maryland >> ECON >> 200 Fall, 2008
Path: Maryland >> ECON >> 108 Fall, 2008
Path: Maryland >> ECON >> 108 Fall, 2008
Path: Maryland >> ECON >> 208 Fall, 2008
Path: Maryland >> ECON >> 208 Fall, 2008
Path: Maryland >> ECON >> 108 Fall, 2008
Path: Maryland >> ECON >> 208 Fall, 2008
Path: Maryland >> ECON >> 1 Fall, 2008
Path: Maryland >> GEOL >> 08 Fall, 2008
Path: Maryland >> GEOL >> 08 Fall, 2008
Path: Maryland >> GEOL >> 07 Fall, 2008
Path: Maryland >> GEOL >> 07 Fall, 2008
Path: Maryland >> GEOL >> 07 Fall, 2008
Path: Maryland >> GEOL >> 07 Fall, 2008
Path: Maryland >> GEOL >> 07 Fall, 2008
Path: Maryland >> GEOL >> 07 Fall, 2008
Path: Maryland >> GEOL >> 07 Fall, 2008
Path: Maryland >> LIB >> 1205 Fall, 2008
Path: Maryland >> LIB >> 2005 Fall, 2008
Path: Maryland >> LIB >> 1205 Fall, 2008
Path: Maryland >> ATMOS >> 2005 Fall, 2008
Path: Maryland >> GLUE >> 2004 Fall, 2008
Path: Maryland >> GLUE >> 2004 Fall, 2008
Path: Maryland >> GLUE >> 2000 Fall, 2008
Path: Maryland >> GLUE >> 2000 Fall, 2008
Path: Maryland >> WAM >> 12 Fall, 2008
Path: Maryland >> WAM >> 12 Fall, 2008