Macroeconomic Policy as Implicit Industrial Policy: Its Industry and Enterprise Effects

Tsai, Diana H.; Norsworthy, J.R.

doi:10.1007/978-1-4615-5443-1

Cited by 12 publications

(5 citation statements)

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“…It was first discovered in 1925 by an aircraft manufacturer at the Wright-Patterson Air Force Base in Ohio, United States (Wright, 1936, p.124). An observation was made that during the assembly of aircrafts, manufacturing the fourth aircraft required 20% less labour hours then the second plane and manufacturing the eight plane required 20% less labour hours then the fourth aircraft (Norsworthy & Tsai, 2012). Ever since Wright's discovery the benefits of the learning curves have been widely recognized, accepted and integrated into production, capacity and workforce planning (Cantamessa & Valentini, 2000), (Z. X.…”

Section: The Learning Theorymentioning

confidence: 99%

The Impact of Learning on the Selection of Cost-Effective Machining and Production Process

Hossain¹

2022

Preprint

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<p>Informed production decision-making requires a structured understanding of the production process and costs associated. This research proposes a decision support system incorporating the learning effects on selecting cost-effective machining production process. The approach is applied to the case on manufacturing wind turbine blades. The machining industry has experienced a surge in demand for complex machining applications and an availability of a wide range of new machining technologies. Producing complex structures requires experienced CNC programmers that perform extensive strategy planning, design and optimization. The system developed considers the production processes, cost items, power learning curve and experience of the programmers. This enables managers to evaluate between various production processes and select the most cost-efficient process. An analytical approach to evaluate cost efficiency between 3-axis CNC and 5-axis CNC machines. The result is a user-friendly planning and selection tool aiding in answering critical managerial questions related to cost-effectiveness.</p><div><br></div>

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Section: The Learning Theorymentioning

confidence: 99%

The Impact of Learning on the Selection of Cost-Effective Machining and Production Process

Hossain¹

2022

Preprint

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“…The challenge from the Japanese entrants was the strongest in lathe‐based MTs (Ashburn, ; Sarathy, )—the target of the Voluntary Restraint Agreement (VRA) imposed on Japan and Taiwan by the Secretary of Commerce in 1987 (Alexander, ). Import penetration of MTs (which included both CNC and non‐CNC MTs) hovered around 20 percent during the late 1970s (Norsworthy and Tsai, : 79). However, from 1981 through 1987, MT imports (93% of which were lathe‐based CNC MTs) increased 37 percent every year in current dollars, and import penetration increased from 25.63 to 52.24 percent (Sarathy, : 135–138).…”

Section: Contextmentioning

confidence: 99%

Stock of downstream complementary assets as a catalyst for product innovation during technological change in theU.S.machine tool industry

Roy

Cohen

2016

Strategic Management Journal

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Research summary: We investigate the effect of incumbents' stock of downstream complementary assets on their product innovation during a disruptive technological change. We theorize that a firm's stock of downstream complementary assets, by providing critical information about shifting demand conditions, will play a catalytic role in firm adaptation during such a change. Using the advent of disruptive computer numerical control machine tools in the U.S. machine tool industry during the 1970s and 1980s as the context, we find that firms with greater stocks of downstream complementary assets are likely to be product innovation leaders during such a change. Managerial summary: Disruptive changes are challenging firms across industries. We concentrate on the U.S. machine tool industry during the 1970s and 1980s when Japanese manufacturers with disruptive computer numerical control systems challenged the U.S. manufacturers. We find that, under the threat of disruption, the greater the stock of downstream complementary assets a U.S. machine tool manufacturer has, the more likely it is to be the product innovation leader with the disruptive technology. Our findings provide novel insights for managers in companies that face disruptive changes and can help them avoid the consequences of such changes as predicted by prior research. Copyright © 2016 John Wiley & Sons, Ltd.

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“…If government officials predict an extremely high consumer price index (CPI) in the future months and then decide to conduct quantitative easing monetary policy, the inflation level will be definitely exacerbated (Sims 1990;Schuh 2001). Imprecise forecast of the economic trends would possibly mislead business managers to make wrong development strategy, so as to cause enormous losses, even bankruptcy of enterprises (Norsworthy and Tsai 1998). Among various macroeconomic indicators, CPI is a special and important one as it has a strong connection with peoples' daily life.…”

Section: Introductionmentioning

confidence: 99%

A MIDAS modelling framework for Chinese inflation index forecast incorporating Google search data

Shang

Wang

et al. 2015

Electronic Commerce Research and Applications

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Macroeconomic Policy as Implicit Industrial Policy: Its Industry and Enterprise Effects

Cited by 12 publications

References 0 publications

The Impact of Learning on the Selection of Cost-Effective Machining and Production Process

The Impact of Learning on the Selection of Cost-Effective Machining and Production Process

Stock of downstream complementary assets as a catalyst for product innovation during technological change in theU.S.machine tool industry

A MIDAS modelling framework for Chinese inflation index forecast incorporating Google search data

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