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Technology and Capital Adjustment Costs : A Micro evidence of automobile electronics in the auto-parts suppliers.

Research Project

Project/Area Number 21530240
Research Category

Grant-in-Aid for Scientific Research (C)

Allocation TypeSingle-year Grants
Section一般
Research Field Applied economics
Research InstitutionAichi University

Principal Investigator

UCHIDA Ichihiro  愛知大学, 経済学部, 准教授 (50305554)

Co-Investigator(Kenkyū-buntansha) TAKEDA Yosuke  上智大学, 経済学部, 教授 (20266068)
Project Period (FY) 2009 – 2011
Project Status Completed (Fiscal Year 2011)
Budget Amount *help
¥4,290,000 (Direct Cost: ¥3,300,000、Indirect Cost: ¥990,000)
Fiscal Year 2011: ¥1,170,000 (Direct Cost: ¥900,000、Indirect Cost: ¥270,000)
Fiscal Year 2010: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000)
Fiscal Year 2009: ¥2,080,000 (Direct Cost: ¥1,600,000、Indirect Cost: ¥480,000)
Keywords資本の調整費用 / General Purpose Technology / 自動車の電子制御化 / SMM / 調整費用 / 組織資本 / 設備投資
Research Abstract

In order to make quantitative evaluations on the nature of capital adjustment costs, in the face of technological changes, we estimate capital adjustment cost functions, either convex, non-convex, or irreversible(Cooper and Haltiwanger, 2006). A simulated method of moments is applied to the Bellman equations at an establishment level of the Japanese auto parts suppliers(Census of Manufactures), where experiencing a technological change of automobile electronics, an application of general purpose technology(David, 1990 ; Jovanovic and Rousseau, 2005). Identifying when and where auto-electronics technologies have been embodied in the auto parts suppliers, we use patent acquisition data and plants' products items : electronically-controlled fuel injection ; electric power steering ; anti-lock brakes ; airbags ; navigation ; wire harnesses ; and lithium-ion batteries. For the overall auto parts suppliers, there are no adjustment costs in any form, neither convex, non-convex, nor irreversible. As for the sectoral plants with the automobile electronics embodied in the tangible capitals, we clearly detect a significant existence of the convex adjustment costs. Anomalously, auto-electronics also makes investment decisions reversible. Moreover, the fixed costs of plant restructuring, worker retraining, or organizational restructuring emerge, especially in a form of costs proportional to plant size rather than the opportunity cost of investment. The nature of adjustment costs implies economic policy measures to compensate for the output losses from the capital adjustment costs in the face of general purpose technologies.

Report

(4 results)
  • 2011 Annual Research Report   Final Research Report ( PDF )
  • 2010 Annual Research Report
  • 2009 Annual Research Report
  • Research Products

    (10 results)

All 2012 2010 2009 Other

All Journal Article (3 results) (of which Peer Reviewed: 1 results) Presentation (5 results) Remarks (2 results)

  • [Journal Article] Technology and Capital Adjustment Costs : A Micro evidence of automobile electronics in the auto-parts suppliers2012

    • Author(s)
      Ichihiro Uchida and Yosuke Takeda, Daichi Shirai
    • Journal Title

      RIETI Discussion Paper Series

      Volume: 12-E-001

    • Related Report
      2011 Final Research Report
  • [Journal Article] Technology and Capital Adjustment Costs:Micro evidence of automobile electronics in the auto-parts suppliers2012

    • Author(s)
      打田委千弘・竹田陽介・白井大地
    • Journal Title

      RIETI Discussion Paper Series (12-E-001)

      Volume: 1月 Pages: 1-29

    • Related Report
      2011 Annual Research Report
  • [Journal Article] Technological Externalities and Economic Distance : A Case of the Japanese Automobile Suppliers2009

    • Author(s)
      Yosuke TAKEDA, Ichihiro UCHIDA
    • Journal Title

      RIETI Discussion Paper Series 09-E-051

      Pages: 1-45

    • Related Report
      2009 Annual Research Report
    • Peer Reviewed
  • [Presentation] Technology and Capital Adjustment Costs : A Micro Evidence of Automobile Electronics in the Auto-Parts Suppliers2012

    • Author(s)
      Ichihiro Uchida and Yosuke Takeda
    • Organizer
      11th Comparative Analysis of Enterprise Data & COST Conference
    • Place of Presentation
      Germany
    • Year and Date
      2012-04-27
    • Related Report
      2011 Final Research Report
  • [Presentation] Technological Externalities and Economic Distance : A Case of the Japanese Automobile Suppliers.2010

    • Author(s)
      Yosuke TAKEDA, Ichihiro UCHIDA
    • Organizer
      The 2010 Comparative Analysis of Enterprise(Micro) Data(CAED) Conference
    • Place of Presentation
      Imperial College, London Business school
    • Year and Date
      2010-09-24
    • Related Report
      2010 Annual Research Report
  • [Presentation] Technological Externalities and Economic Distance : A Case of the Japanese Automobile Suppliers.2010

    • Author(s)
      Yosuke TAKEDA, Ichihiro UCHIDA
    • Organizer
      日本経済学会
    • Place of Presentation
      千葉大学
    • Year and Date
      2010-06-06
    • Related Report
      2010 Annual Research Report
  • [Presentation] Agglomeration or Congestion? Productivity and Economic Distance of the Japanese Automobile Suppliers2009

    • Author(s)
      Yosuke TAKEDA, Ichihiro UCHIDA
    • Organizer
      The 2009 Comparative Analysis of Enterprise(Micro)Data(CAED)Conference
    • Place of Presentation
      一橋大学
    • Year and Date
      2009-10-03
    • Related Report
      2009 Annual Research Report
  • [Presentation] Agglomeration or Congestion? Productivity and Economic Distance of the Japanese Automobile Suppliers2009

    • Author(s)
      Yosuke TAKEDA, Ichihiro UCHIDA
    • Organizer
      2009 Far East and South Asia Meeting of the Econometric Society
    • Place of Presentation
      東京大学
    • Year and Date
      2009-08-03
    • Related Report
      2009 Annual Research Report
  • [Remarks] (研究成果についての,ノンテクニカルサマリーのHPアドレス)

    • URL

      http://www.rieti.go.jp/jp/publications/nts/12e001.html

    • Related Report
      2011 Final Research Report
  • [Remarks]

    • URL

      http://www.rieti.go.jp/jp/publications/nts/12e001.html

    • Related Report
      2011 Annual Research Report

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Published: 2009-04-01   Modified: 2016-04-21  

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