Aggregate Implication of Complementarities: Machine Replacement, Income Distribution, and Fluctuations

本项目的目的是分析三大问题： 机器更换和总体业务波动，团队 动态和商业周期行为。 第一个主题涉及 机器更换的总影响， 用生产力更高的新机器代替旧机器。 以前的工作主要集中在季节性波动引起的 在两次世界大战期间， 二战后时期。 扩展将涉及寻找更多 广泛超过其他行业，专注于连接 机器更换和商业周期，并评估 季节生产力的竞争理论模型 波动 第二个主题是关于 生产过程和分配的互补性 收入。 在这里，个人到团队的分配（例如， 公司）进行了分析，重点是收入的诱导动态 分配，特别注意持续收入 不平等 第三个主题是在net上继续前面的工作 企业的形成，银行挤兑，以及 总波动的技术非凸性。 这 研究是重要的，因为它将提供一个更好的 了解影响经济波动的因素， 收入的分配。

The purpose of this project is to analyze three broad issues: machine replacement and aggregate business fluctuations, team dynamics, and business cycle behavior. The first topic involves the aggregate implication of machine replacement which entails the replacement of old machines with new, more productive ones. Previous work has focused on seasonal fluctuations induced by retooling in the automobile industry during the both interwar and post WW II periods. The extensions will involve looking more broadly over other industries to focus on the connection between machine replacement and the business cycle and to evaluate competing theoretical models of seasonal productivity fluctuations. The second topic concerns the relationship between complementarities in the production process and the distribution of income. Here the assignment of individuals to teams (e.g. firms) is analyzed focusing on the induced dynamics of the income distribution, paying particular attention to persistent income inequality. The third topic continues previous work on net business formation, bank runs, and the importance of technological non-convexities for aggregate fluctuations. This research is important because it will provide a better understanding of factors influencing economic fluctuations and the distribution of income.