Replication data for: Time to Build and Fluctuations in Bulk Shipping
Principal Investigator(s): View help for Principal Investigator(s) Myrto Kalouptsidi
Version: View help for Version V1
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20111272_programs | 10/19/2021 02:15:PM | ||
LICENSE.txt | text/plain | 14.6 KB | 10/11/2019 05:49:PM |
Project Citation:
Kalouptsidi, Myrto. Replication data for: Time to Build and Fluctuations in Bulk Shipping. Nashville, TN: American Economic Association [publisher], 2014. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-11. https://doi.org/10.3886/E112737V1
Project Description
Summary:
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This paper explores the nature of fluctuations in world bulk shipping
by quantifying the impact of time to build and demand uncertainty on
investment and prices. We examine the impact of both construction
lags and their lengthening in periods of high investment activity, by
constructing a dynamic model of ship entry and exit. A rich dataset
of secondhand ship sales allows for a new estimation strategy: resale
prices provide direct information on value functions and allow their
nonparametric estimation. We find that moving from time-varying
to constant to no time to build reduces prices, while significantly
increasing both the level and volatility of investment.
Scope of Project
Subject Terms:
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shipping;
time to build;
cycles;
uncertainty
JEL Classification:
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G31 Capital Budgeting; Fixed Investment and Inventory Studies; Capacity
L11 Production, Pricing, and Market Structure; Size Distribution of Firms
L62 Automobiles; Other Transportation Equipment; Related Parts and Equipment
L92 Railroads and Other Surface Transportation
G31 Capital Budgeting; Fixed Investment and Inventory Studies; Capacity
L11 Production, Pricing, and Market Structure; Size Distribution of Firms
L62 Automobiles; Other Transportation Equipment; Related Parts and Equipment
L92 Railroads and Other Surface Transportation
Geographic Coverage:
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global
Data Type(s):
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administrative records data;
event/transaction data;
observational data;
aggregate data
Methodology
Data Source:
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Clarksons Research
Unit(s) of Observation:
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quarter,
ship,
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