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those estimates to analyze the evolution of plant level productivity over this period. The restructuring involved … quantities of inputs demanded should they continue depend on their productivity, we use an equilibrium model to suggest an … estimation algorithm that takes into account the relationship between productivity on the one hand. and both input demand and …
Persistent link: https://www.econbiz.de/10013227892
Aggregate and sectoral comovement are central features of business cycle data. Therefore, the ability to generate comovement is a natural litmus test for macroeconomic models. But it is a test that most existing models fail. In this paper we propose a unified model that generates both aggregate...
Persistent link: https://www.econbiz.de/10012759792
1990s, provided that variations in population growth, depreciation rates, total factor productivity, and taxes are …. We use the theory to compare current accounting measures for labor productivity and investment with the corresponding … understate the boom in productivity and investment …
Persistent link: https://www.econbiz.de/10012750319
We introduce a growth model of technology diffusion and endogenous Total Factor Productivity (TFP) levels both at the … disparities in sectoral productivity levels as well as aggregate TFP that can be attributed to the differences in the range of …
Persistent link: https://www.econbiz.de/10013230620
new enterprises. After these reforms, however, it has taken a number of years before output and productivity have begun to … result, it takes time before the benefits of reform show up in increases in measured output and productivity. To establish a … that it takes 5-7 years until measured output and productivity begin to grow rapidly following reform. This finding …
Persistent link: https://www.econbiz.de/10013313235
bias due to unobserved productivity shocks. We use lagged investment to instrument for potentially mis-measured capital … stock, while conditioning on the part of productivity that is persistent. Our estimation routine nests standard approaches … distinct economies: China, India and Chile; which experienced radically different processes of capital and productivity …
Persistent link: https://www.econbiz.de/10012986295
Some aspects of the econometric estimation of production functions are discussed, focussing primarily on the issue of simultaneity and reviewing the stream of criticisms of Douglas' work and the response to it. We look in particular at the work that uses panel data on micro data for plants or...
Persistent link: https://www.econbiz.de/10013229122
We estimate separate productions functions for approximately 450 manufacturing firms each in France and the United States and for 850 manufacturing firms in Japan, covering the 13 year period 1967-1979, and focus on the wide dispersion in the estimated slope coefficients in all three countries....
Persistent link: https://www.econbiz.de/10013244899
This paper explores the inconsistency of common scale estimators when output is proxied by deflated sales, based on a common output deflator across firms. The problems arise when firms operate in an imperfectly competitive environment and prices differ between firms. In particular, we show that...
Persistent link: https://www.econbiz.de/10012760146
adjust traditional measures of multi factor productivity growth for variations in short-run utilization …
Persistent link: https://www.econbiz.de/10013145300