Macroeconomic and Financial Effects on Competitiveness in U.S. Manufacturing: A study of the U.S. Machine Tools Industry

John Randolph Norsworthy, Diana Hwei An Tsai

研究成果: Conference contribution同行評審

摘要

Chapter 5 summarized the causes of decline of the U.S. machine tool industry into several categories: low investment due to government policies (such as the tax system, high cost of capital in the U.S. capital market, high wage policy; cyclical nature of industry structure); declining international competitiveness due to overvaluation of the dollar; and low productivity growth and technological change relative to competitive foreign machine tool industries. This chapter presents nine alternative policy scenarios simulated using the Fair macroeconomic model to measure the impact of nine policy instruments and macroeconomic variables. Our objective is to provide measures of the effects of the generic industrial policies represented in those variables. These nine alternative industrial policy scenarios can be characterized in five policy tools. 1

原文English
主出版物標題New Developments in Productivity Analysis, Annual Conference of Productivity Workshop, Rutgers University (Newark), New Jersey
發行者Springer Boston
章節8
頁面150-183
頁數34
ISBN(電子)978-1-4615-5443-1
ISBN(列印)978-1-4613-7485-5
DOIs
出版狀態Published - 1998

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