An effort to measure technological progress in structures by using panel data on the age and rents of buildings in a vintage capital model, where buildings are replaced at some chosen periodicity. It finds that there has been significant technological advance in structures, which accounts for a...

The article focuses on the relation of competition to changes in productivity. Specifically, it compares the experience of AT&T Long Lines, operating in an increasingly competitive market, with that of eight local telephone monopolies. Both the estimation of total factor productivity growth and...

This paper shows that firm-specific economies of scale—or net overall economies—are correlated with subadditivity. Both economies of scale and subadditivity are a decreasing function of firm size. Most firms are observed to be in the relatively flat portion of the long-run average cost...