Showing 1 - 10 of 3,830
This chapter covers the theory and methods for productivity measurement for nations. Labor, multifactor and total factor productivity measures are defined and are related to each other and to gross domestic product (GDP) per capita. Their growth over time and relative counterparts are defined as...
Persistent link: https://www.econbiz.de/10014024949
This short article contributes to the Elgar Encyclopedia of Public Choice by summarizing the literature on the measurement of democracy. I proceed in two step. In the first part, I describe the classical approach for producing a measure of democracy and sketch an alternative approach. The second...
Persistent link: https://www.econbiz.de/10013469849
In the neoclassical production functions model technical change (TC) is assumed to be exogenous and it is specified as a function of time. However, some exogenous external factors other than time can also affect the rate of TC. In this paper we model TC via a combination of time trend (purely...
Persistent link: https://www.econbiz.de/10010280731
We provide an axiomatic foundation for efficiency measurement in the full space, referred to as "graph efficiency" measurement by Färe, Grosskopf, and Lovell [1985]. We posit four types of axioms: indication, monotonicity, independence of units of measurement, and continuity. We analyze six...
Persistent link: https://www.econbiz.de/10014046424
It is well known that, in continuous time, the Cobb-Douglas function can be derived from the underlying, data governing, accounting identity under some reasonable assumptions (factor shares are constant, and the weighted growth of the labour input price and the capital input price is constant)....
Persistent link: https://www.econbiz.de/10014080585
This paper shows that the Bennet-Bowley profit indicator is an exact and superlative approximation of the additively complete Luenberger-Hicks-Moorsteen productivity indicator when the input and output directional distance functions can be represented up to the second order by a quadratic...
Persistent link: https://www.econbiz.de/10012965088
Measures of productivity reveal large differences across producers even within narrowly defined industries. Traditional measures of productivity, however, will associate differences in demand volatility to differences in productivity when adjusting factors of production is costly. I document...
Persistent link: https://www.econbiz.de/10012967587
Using the new Bureau of Economic Analysis (BEA) Integrated Macroeconomic Accounts as well as other BEA data, we construct productivity accounts for two key sectors of the US economy: the Corporate Nonfinancial Sector (Sector 1) and the Noncorporate Nonfinancial Sector (Sector 2). Calculating...
Persistent link: https://www.econbiz.de/10012955209
In the neoclassical production functions model technical change (TC) is assumed to be exogenous and it is specified as a function of time. However, some exogenous external factors other than time can also affect the rate of TC. In this paper we model TC via a combination of time trend (purely...
Persistent link: https://www.econbiz.de/10013119734
Caves, Christensen, Diewert introduced Malmquist output, input and productivity indexes into production theory in a systematic way. This paper revisits the debate on how to decompose Bjurek's concept of a Malmquist productivity index into explanatory factors, with a focus on extracting technical...
Persistent link: https://www.econbiz.de/10013051762