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Verdoorn-Kaldor’s law : an empirical analysis with time series data in the United States
Castiglione, Concetta - In: Advances in management & applied economics 1 (2011) 3, pp. 135-151
Verdoorn's law refers to a statistical relationship between the long-run growth rate of labour productivity and the … labour productivity. Quarterly US data for 1987-2007 is used to test the pattern implied by the law. Results show that … manufacturing production and labour productivity are variables that are integrated of order (1,1), and are also cointegrated. The …
Persistent link: https://www.econbiz.de/10009569714
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The Equipment Hypothesis and U.S. Economic Growth
Field, Alexander J. - 2009
In several articles published in the 1990s, de Long and Summers argued that investment in producer durables had a high propensity to generate externalities in using industries, resulting in a systematic and substantial divergence between its social and private return. They maintained, moreover,...
Persistent link: https://www.econbiz.de/10012766620
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Interpreting productivity growth in the new economy : some agnostic notes
Gundlach, Erich - 2001
The growth rate of total factor productivity seems to have increased recently, at least in the United States. Higher US … productivity growth may justify higher stock market valuations than in the past and thus herald an emerging New Economy. However …, the size of the estimated growth rate of total factor productivity depends on an assumption about the factor …
Persistent link: https://www.econbiz.de/10011477079
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The Origins of U.S. Total Factor Productivity Growth in the Golden Age
Field, Alexander J. - 2009
, help provide answers to the latter question. A persisting productivity windfall associated with the build out of the …
Persistent link: https://www.econbiz.de/10014047773
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Nested stochastic possibility frontiers with heterogeneous capital inputs
Erber, Georg; Madlener, Reinhard - 2007
This paper studies the productivity impact of heterogeneous capital inputs of selected EU-15 member countries and of … to the introduction and estimation of two-stage nested translog possibility production frontiers, the otherwise huge …
Persistent link: https://www.econbiz.de/10010264965
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ICT Intermediates, Growth and Productivity Spillovers: Evidence from Comparison of Growth Effects inGerman and US Manufacturing Sectors
Strobel, Thomas - 2012
Recent pre-crisis growth accounting exercises attribute strong productivity growth toincreased investments in …-EU productivity gapare confirmed for Germany, particularly showing no substantially economy-wide effectsfrom ICT for German sectors …
Persistent link: https://www.econbiz.de/10010312069
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The Direct and Indirect Effects of Small Business Administration Lending on Growth : Evidence from U.S. County-Level Data
Young, Andrew T. - 2015
Conventional wisdom suggests that small businesses are innovative engines of Schumpetarian growth. However, as small businesses, they are likely to face credit rationing in financial markets. If true then policies that promote lending to small businesses may yield substantial economy-wide...
Persistent link: https://www.econbiz.de/10013032373
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Heterogeneous Technology And Panel Data : The Case of The Agricultural Production Function
Mundlak, Yair - 2008
The paper presents empirical analysis of a panel of countries to estimate an agricultural production function using a … implemented technology is chosen jointly with inputs to interpret information obtained in the empirical analysis of panel data … augmenting the role of capital, in combination with productivity gains, as a driver of agricultural growth. The results indicate …
Persistent link: https://www.econbiz.de/10010521223
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Unmeasured Investment and the Puzzling U.S. Boom in the 1990s
McGrattan, Ellen R. - 2008
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/10012770850
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Is industrial production still the dominant factor for the US economy?
Andreou, Elena; Gagliardini, Patrick; Ghysels, Eric; … - 2016
panel of IP and non-IP sectors. We find that a single common factor explains 89% of IP output growth and 61% of total GDP …
Persistent link: https://www.econbiz.de/10011515884