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HAS PRODUCTION MANAGEMENT IMPROVED SINCE 1984?
Author(s) -
BIVIN DAVID G.
Publication year - 2006
Publication title -
economic inquiry
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.823
H-Index - 72
eISSN - 1465-7295
pISSN - 0095-2583
DOI - 10.1093/ei/cbj038
Subject(s) - economics , production (economics) , structural change , demand management , empirical evidence , monetary economics , macroeconomics , econometrics , epistemology , philosophy
The growth rate of GDP stabilized around 1984, and improvements in production management have been cited as a possible cause. This article examines this rationale with two‐digit SIC manufacturing data. The empirical questions are whether there is evidence of structural change in industry output around 1984 and, if so, did output track demand more closely following the change? The results indicate that only two industries exhibited structural change in the 1982–86 period. There is evidence that output has tracked demand more closely in recent years, but this is because demand shocks have become less persistent. (JEL C15 , D21 , E22 )