ATTENTION: The software behind KU ScholarWorks is being upgraded to a new version. Starting July 15th, users will not be able to log in to the system, add items, nor make any changes until the new version is in place at the end of July. Searching for articles and opening files will continue to work while the system is being updated.
If you have any questions, please contact Marianne Reed at mreed@ku.edu .
Industrial Heterogeneity in Response to Factor Price Shocks: A Dynamic Framework of Production with Money Input
dc.contributor.advisor | Barnett, William A | |
dc.contributor.author | Zhang, Zhiyue | |
dc.date.accessioned | 2023-07-04T18:18:16Z | |
dc.date.available | 2023-07-04T18:18:16Z | |
dc.date.issued | 2020-05-31 | |
dc.date.submitted | 2020 | |
dc.identifier.other | http://dissertations.umi.com/ku:17244 | |
dc.identifier.uri | https://hdl.handle.net/1808/34530 | |
dc.description.abstract | This thesis studied heterogeneity in firms' use of monetary assets and how it led to differential reactions to monetary shocks. I reviewed studies on the dynamics in industry-level and firm-level output, sales, employment, and investment in response to monetary policy shocks and during business cycle phases, summarized the implication to monetary transmission mechanism, to patterns in industrial and firm themselves' behaviors, and to welfare redistribution, and suggested new classification system of firms for better aggregation. I proposed a general framework of incorporating dynamics into modelling non-financial firms' multi-period production using flexible functional forms, a model family which was originally devised static and often undermined by dynamic misspecification issue in application. Then I applied the framework to the U.S. production data to model industry-level cost functions, and analyzed implication of dynamics in output, investment, and labor demand upon shocks from monetary asset prices, capital price, wage and so on. I identified a monetary transmission channel by examining the asset side of producer's balance sheet, different from any known channels which mainly affect real economic activities through financing and the liability side of producers' balance sheet. I call this mechanism the currency channel. In addition, I proposed the invariance of intermediate input price elasticity of output in production planning period horizon. Last, the application itself adds more empirical tests to assessing the competence of some flexible functional forms in modeling cost functions. | |
dc.format.extent | 189 pages | |
dc.language.iso | en | |
dc.publisher | University of Kansas | |
dc.rights | Copyright held by the author. | |
dc.subject | Economics | |
dc.subject | Statistics | |
dc.subject | Finance | |
dc.subject | Corporate Finance | |
dc.subject | Currency Channel | |
dc.subject | Flexible Functional Form | |
dc.subject | Monetary Policy | |
dc.subject | Monetary Transmission Mechanism | |
dc.subject | Survey | |
dc.title | Industrial Heterogeneity in Response to Factor Price Shocks: A Dynamic Framework of Production with Money Input | |
dc.type | Dissertation | |
dc.contributor.cmtemember | Keating, John | |
dc.contributor.cmtemember | Slusky, David | |
dc.contributor.cmtemember | Tsvetanov, Tsvetan | |
dc.contributor.cmtemember | Sherwood, Ben | |
dc.thesis.degreeDiscipline | Economics | |
dc.thesis.degreeLevel | Ph.D. | |
dc.identifier.orcid | https://orcid.org/0000-0001-8085-3182 | en_US |
dc.rights.accessrights | openAccess |
Files in this item
This item appears in the following Collection(s)
-
Dissertations [4889]