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Keywords:Industrial capacity 

Journal Article
Industrial production and capacity utilization: the 2002 historical and annual revision

In late 2002, the Board of Governors of the Federal Reserve System published a revision to its index of industrial production and the related measures of capacity utilization. The primary feature of the revision was the reclassification back to 1972 of production and capacity indexes for individual industries from the Standard Industrial Classification System to the North American Industry Classification System. The revision also reflects the incorporation of newly available, more comprehensive source data, and it introduced improved methods for measuring the annual real output of ...
Federal Reserve Bulletin , Volume 89 , Issue Apr

Journal Article
Industrial production and capacity utilization: the 2009 annual revision

On March 27, 2009, the Federal Reserve published revisions to its index of industrial production (IP) and the related measures of capacity and capacity utilization. The overall contour of total IP is little changed by the revision. Industrial output rose steadily at an average annual rate of 2.3 percent from 2004 through 2007, then fell sharply in 2008 at a rate of negative 6.7 percent.
Federal Reserve Bulletin , Volume 95 , Issue Aug

Journal Article
Industrial production and capacity utilization: the 2004 annual revision

In late 2004, the Board of Governors of the Federal Reserve issued revisions to its index of industrial production (IP) and the related measures of capacity and capacity utilization for the period from January 1972 to November 2004. Overall, the changes to total industrial production were small. ; Measured from the fourth quarter of 2002 to the third quarter of 2004, industrial output is reported to have increased a little less than shown previously. Production expanded more slowly in 2000 than earlier estimates indicated, whereas the contraction in 2001 was a little less steep. The rise in ...
Federal Reserve Bulletin , Volume 91 , Issue Win

Journal Article
Capacity utilization in major materials industries

Federal Reserve Bulletin , Issue Aug , Pages 564-566

Industrial capacity and industrial investment

This paper examines the relationship between capacity growth and the growth and composition of investment. Because capacity is an index of the maximum sustainable output of an industry, capacity growth is unlikely to be determined solely by the growth of an industry's fixed capital stock. Statistical analysis of two-digit manufacturing industries finds that labor force growth, as well as capital stock growth, also helps explain the growth of capacity over the 5-year periods between Censuses of manufacturing. There is evidence that changes in the composition of an industry's capital stock are ...
Research Paper , Paper 9510

Journal Article
Industrial production and capacity utilization: 1998 annual revision

In late 1998, the Federal Reserve published the results of an annual revision of its measures of industrial production, capacity, and capacity utilization, which cover the nation's manufacturing, mining, and electric and gas utilities industries. The revision involved both the incorporation of newly available and more comprehensive source data and, for some series, the introduction of modified methods for compiling the series. The revised figures show stronger growth of both production and capacity since 1996; however, the overall capacity utilization rate was little changed from the previous ...
Federal Reserve Bulletin , Volume 85 , Issue Jan , Pages 20-33

Journal Article
Industrial developments

Federal Reserve Bulletin , Issue Dec

Journal Article
Inflation and capacity

FRBSF Economic Letter

Working Paper
Optimal monopoly investment and capacity utilization under random demand

Unique value-maximizing programs of irreversible capacity investment and capacity utilization are described and shown to exist under general conditions for monopolist exhibiting capital adjustment costs and serving random consumer demand for a nondurable good over an infinite horizon. Stationary properties of these programs are then fully characterized under the assumption of serially independent demand disturbances. Optimal monopoly behavior in this case includes acquisition of a constant and positive level of capacity, the maintenance of a positive expected value of excess capacity in each ...
Working Papers , Paper 1990-003

Journal Article
Is there a stable relationship between capacity utilization and inflation?

Many policymakers and financial market participants use the Federal Reserve's industrial capacity utilization rate as an indicator of future changes in inflation. During the past few years, however, the usefulness of the utilization rate as an inflation indicator has come under scrutiny. ; In this article, Kenneth Emery and Chih-Ping Chang examine capacity utilization's power to predict changes in inflation, with a focus on whether the relationship is stable over time. They find that while there was a positive forecasting relationship between capacity utilization and changes in consumer price ...
Economic and Financial Policy Review , Issue Q I , Pages 14-20


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