Heterogeneity in Manufacturing Growth Risk

Arbeitspapier

We analyze output growth risk with respect to financial conditions across U.S. manufacturing industries. Using a multi-level quantile regression approach, we find strong heterogeneity in growth risk, particularly between the more vulnerable durable goods sector and the more resilient nondurable goods sector. Moreover, we show that industry characteristics significantly explain these differences. Large, or material intensive durable goods producing, or energy intensive nondurable goods producing industries are more vulnerable to adverse financial conditions, while industries engaging in labor hoarding, or with a high capital or overhead labor intensity are less susceptible.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Tinbergen Institute Discussion Paper ; No. TI 2021-036/III

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Single Equation Models; Single Variables: Cross-Sectional Models; Spatial Models; Treatment Effect Models; Quantile Regressions ; Business Fluctuations; Cycles ; Financial Markets and the Macroeconomy ; Industrial Organization and Macroeconomics: Industrial Structure and Structural Change; Industrial Price Indices ; Industry Studies: Manufacturing: General
• Thema: downside risk ; business cycle ; quantile regression ; manufacturing ; financial conditions

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Opschoor, Daan ; van Dijk, Dick ; Franses, Philip Hans
• Ereignis: Veröffentlichung
• (wer): Tinbergen Institute
• (wo): Amsterdam and Rotterdam
• (wann): 2021

Weitere Informationen

• Handle: http://hdl.handle.net/10419/237769
• Letzte Aktualisierung: 10.03.2025, 11:41 MEZ