Modeling Structural Change in the U.S. Textile Industry by Sh... - 9781138976245

Modeling Structural Change in the U.S. Textile IndustryAuthor(s): Shu Yang, Barry K. Goodwin\nFormat: Paperback\nPublisher: Taylor & Francis Ltd, United Kingdom\nImprint: Routledge\nISBN-13: 9781138976245, 978-1138976245\nSynopsis\nThis book reviews the experience of the textile and apparel sectors over the post-war period. An econometric study of the cost structure of the industry is undertaken to obtain inferences regarding the existence of structural change and the exact nature of any changes that occurred. A variety of approaches to modeling production technologies in both the textile and apparel sectors are considered. Our results confirm the existence of significant structural breaks which altered the nature of production technologies and economic relationships in these sectors. Our results indicate that a significant amount of labor, which became relatively more expensive as the economy developed after the Second World War, was replaced by capital in these sectors. Our res.