Background
Clague, Christopher Karran was born on May 28, 1938 in Washington, District of Columbia, United States. Son of Ewan and Dorothy (Whipple) Clague.
(This book presents the theory of capital utilization, a d...)
This book presents the theory of capital utilization, a discussion of the econometrics of capital utilization, and econometric tests of the theory using international data. Capital utilization, defined as the proportion of time that capital is working productively, is mainly affected by shift-working. Capital utilization is an important economic variable that has received serious attention from economists only since the mid-1960s In the first part, the authors provide a synthesis of current knowledge, combining a consistent statement of existing theory with some major extensions. In the second part, they turn to the econometrics, first discussing the appropriate methodology and then testing the theory on data from several countries. This empirical work is considerably more sophisticated than previous studies on this topic. Having established the theory and tested it, they move on to consider policy, the relationship between capital utilization and economic growth, and the place of shift-work in the dual economy.
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Clague, Christopher Karran was born on May 28, 1938 in Washington, District of Columbia, United States. Son of Ewan and Dorothy (Whipple) Clague.
Bachelor of Arts, Swarthmore College, 1960. Doctor of Philosophy, Harvard University, 1966.
Instructor, Harvard University,
1965-1967. Senior Staff Economics, United States President"s Council Economics Advisers, Washington, District of Columbia, 1967-1968. Assistant Professor, Association Professor, University Maryland, 1968-1971,1971-1979.
Visiting Professor, Boston University, Center Latin American Development Studies, 1974-1975, University California Berkeley, 1983.
Professor of Economics, University Maryland, College Park, Maryland, United States of America,
1979-. Editorial Board, Southern Economic Journal,
1977-1979.
(This book presents the theory of capital utilization, a d...)
(This book presents the theory of capital utilization, a d...)
My intellectual work can be divided into four areas. (1) Economic development with special reference to Latin America,
1965-1970 and 1983-present. In my dissertation I analysed at the factory level the reasons for differences in labour productivity between Peru and the United States.
I maintained an interest in Peru and did a study of the economic development of Haiti (1970). In the last year I have returned to the study of Latin American economic development.
(2) International trade, 1965-1972,
1978- present. I did studies of the trade effects of tariff discrimination, in which I emphasised an Armington-type substitution among goods from different countries (1971).
I also collaborated in a study of the relationship between the absolute purchasing-power parity and the exchange rate (1972), a topic to which I have returned in the last few years.
(3) Poverty, income distribution and social mobility, 1973-1977. Stimulated by some work of Pryor on the effects of assortative mating and fertility differences by income on the concentration of material wealth, I argued first that the intergenerational transmission of wealth in the United States consists primarily of human rather than financial capital and second that marriage and fertility patterns do play a role in the perpetuation of inequality. In another paper I suggested that income inequality is increased by the phenomenon of esprit de corps in successful corporations.
I also did an economic analysis of strategies for dealing with heroin addiction.
(4) Capital utilisation, 1972-present (mostly with Roger Betancourt). Our initial interest in multiple shifts stemmed from a concern to increase modernsector employment in developing countries. We found the duration of operations to be a largely neglected variable in production theory, with important implications for econometric estimation of production functions.
Recently with Panagariya, we have been incorporating variable capital utilisation into two-sector models of international trade.
Member American Economics Association, Conference on Income and Wealth (Executive Committee 1983-1987), Southern Economics Association.
Married Monique Weston, June 9, 1960 (divorced 1982). Children: Holly Weston, Heather Whipple.