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

本研究项目测量资本，劳动力和其他投入如何在制造企业和机构中按规模，年龄和其他特征进行分配。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如何在美国制造业公司中分配，以及这种分配如何随着时间的推移而变化。 新的测量方法将公开提供，并将用于美国经济模型。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企业的行为开始，将企业聚合成行业，然后建立到整个美国经济的生产方面。该项目的成果将广泛纳入这些宏观经济模型。因此，我们将更好地了解政府的经济政策如何以不同的方式影响不同的行业和企业。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的简化统计数据，利用高质量的人口普查微观数据描述分配的动态。其次，他们将制定一个半结构性的分配商业周期会计程序，以评估分配变化对总体波动的影响。第三，他们将使用这个程序的结果，以确定一套结构摩擦，定量相关的理解aggregate fluctuation.This奖项反映了NSF的法定使命，并已被认为是值得的支持，通过评估使用基金会的知识价值和更广泛的影响审查标准。

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.