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We provide semiparametric identification results for a broad class of learning models in which continuous outcomes depend on three types of unobservables: i) known heterogeneity, ii) initially unknown heterogeneity that may be revealed over time, and iii) transitory uncertainty. We consider a...
Persistent link: https://www.econbiz.de/10014486255
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/10012475005
This paper considers the consequences of a two-sector vertically-integrated model of firms producing output using firm-specific capital with a second sector producing firm-specific capital by adapting raw capital purchased in the market. Analysts rarely observe each sector separately....
Persistent link: https://www.econbiz.de/10013462743
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/10012472813
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/10012465147
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/10012465205
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/10012467957
We introduce a new methodology for estimating multi-product production functions. It embeds the seminal contributions of Diewert (1973) and Lau (1976) in our extended version of the semi-parametric econometric framework of Olley and Pakes (1996), where we address the simultaneity of inputs and...
Persistent link: https://www.econbiz.de/10013477277
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/10012473822
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/10012476451