Collaborative Research: The Dynamics of the Capital and Labor Allocation in the United States

这项研究项目衡量了资本、劳动力和其他投入如何按规模、年龄和其他特征在制造公司和机构之间分配。他们将使用财政部和美国人口普查局的数据来计算统计数据，这些统计数据描述了这些资源是如何在美国制造企业中分配的，以及这种分配随着时间的推移发生了怎样的变化。新的衡量标准将公开提供，并将用于美国经济的模型。该小组还计划使用商业周期会计程序来评估资源分配的变化是否(以及在多大程度上)有助于造成商业周期波动。最后，他们将确定一组对理解商业周期很重要的经济摩擦。一大类宏观经济模型从单个公司的行为开始，将公司聚集成行业，然后形成整个美国经济的生产方面。该项目的结果将被广泛纳入这些宏观经济模型。因此，我们将更好地了解政府经济政策如何以不同的方式影响不同的行业和公司。该团队试图了解摩擦对资源配置在塑造商业周期波动中的作用。他们将提供一套公开可用的简化统计数据，使用高质量的人口普查微观数据描述分配的动态。其次，他们将制定一种半结构的分配商业周期会计程序，以评估配置变化对总波动的贡献。第三，他们将使用这一程序的结果来确定与理解总体波动在数量上相关的一组结构性摩擦。这一奖项反映了NSF的法定使命，并通过使用基金会的智力优势和更广泛的影响审查标准进行评估，被认为值得支持。

This research project measures how capital, labor, and other inputs are allocated across manufacturing firms and establishments by size, age, and other characteristics. They will use data from the Department of Treasury and the U.S. Census Bureau to calculate statistics that describe how these resources have been allocated across U.S. manufacturing firms, and how that allocation has changed over time. The new measurements will be publicly available and will be used in models of the U.S. economy. The team also plans to use a business cycle accounting procedure to assess whether (and to what degree) changes in resource allocation help to create business cycle fluctuations. Finally, they will identify a set of economic frictions that are important for understanding business cycles. A large class of macroeconomic models starts with the behavior of individual firms, aggregates firms into industries, and then builds up to the production side of the entire US economy. The result of this project will be widely incorporated into these macroeconomic models. As a result we will better understand how government economic policies affect different industries and firms in different ways.The team seeks to understand the role of frictions to resource allocation in shaping business cycle fluctuations. They will provide a publicly available set of reduced-form statistics that describe the dynamics of the allocation using high-quality Census micro data. Second, they will develop a semi-structural distributional business cycle accounting procedure to assess the contribution of changes in the allocation to aggregate fluctuations. Third, they will use the results of this procedure to identify the set of structural frictions that are quantitatively relevant for understanding aggregate fluctuations.This award reflects NSF's statutory mission and has been deemed worthy of support through evaluation using the Foundation's intellectual merit and broader impacts review criteria.