The technical effect (i.e., that from changes in the energy intensity) in industry sectors belonging to the group of primary industries and the effect from changes in industrial composition in industry sectors belonging to the primary industries can be quantified using Eqs.
Within each industry, the industrial composition effect measures the impact of changes in the fraction of the overall industry accounted for by the various sectors.
As indicated in the figure, both primary and secondary industries exhibited negative industrial composition effects throughout the 15-year period from 1990 to 2005, whereas tertiary industries exhibited an overall positive effect throughout this period.
Historically, it turns out that Andersen's clients had less volatile returns than those of other companies, even after adjusting for major differences in industry composition.
But in the long run, business-friendliness makes a difference: one study found that states that rank better on indices of taxes, costs and regulations enjoy stronger job growth, after filtering out the influence of industry composition and the weather.
Table 1 presents the sample size and industry composition.
We believe industry composition can explain the idiosyncratic component as well as productivity shocks.
In all three datasets, the LEHD, the JOLTS, and the CPS, changes in industry composition lead to higher employment dynamics.
The fact remains that Nokia is essentially just re-skinning an existing phone, however, so it's not likely to upset the cart too much in terms of mobile industry composition.
The key feature of our model is that it can express city size as a product of multiple random factors (e.g., climate, geographic features, and industry composition).
