Please use this identifier to cite or link to this item: http://hdl.handle.net/1893/11116
Appears in Collections:Economics Journal Articles
Peer Review Status: Refereed
Title: Procyclical labour productivity: A closer look at a stylized fact
Authors: Hart, Robert A
Malley, James R
Contact Email: r.a.hart@stir.ac.uk
Keywords: industrial performance
labor productivity
manufacturing
Issue Date: Nov-1999
Publisher: Wiley-Blackwell for the London School of Economics and Political Science
Citation: Hart RA & Malley JR (1999) Procyclical labour productivity: A closer look at a stylized fact, Economica, 66 (264), pp. 533-550.
Abstract: At 4-digit United States manufacturing industry level, we find evidence suggesting that thestylized fact of procyclical labour productivity should be treated with great caution. We usethe NBER Manufacturing Productivity database to investigate the relationship betweenhourly labour productivity and real output for 450 industries for the years 1958-91. Labourproductivity is significantly procyclical in 63% of industries and acyclical in 36%. In the latterrespect, a high proportion of investment goods industries display acyclical productivity.Cross-section regressions are carried out that seek to explain the interindustry distribution ofcyclicality. The analysis attributes a significant role to variations in materials costs, as a proxyfor fluctuations in factor utilization.
Type: Journal Article
URI: http://hdl.handle.net/1893/11116
DOI Link: http://dx.doi.org/10.1111/1468-0335.00187
Rights: The publisher does not allow this work to be made publicly available in this Repository. Please use the Request a Copy feature at the foot of the Repository record to request a copy directly from the author. You can only request a copy if you wish to use this work for your own research or private study.
Affiliation: Economics
University of Glasgow

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