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boosting total factor productivity growth? We use a new data set on output, physical, and human capital inputs for the U … deregulation across states during the period 1970-2000. At the same time, our new data set allows us to go beyond what was … rich and poor states grow faster after deregulation. Additionally, since our data set breaks down aggregate output into …
Persistent link: https://www.econbiz.de/10012869342
expect given individual industry labor's shares. I confirm and extend this result using data from 1958-1996 that includes 35 …
Persistent link: https://www.econbiz.de/10014067450
Capital-labor substitution and TFP estimates are essential features of many economic models. Such models typically embody a balanced growth path. This often leads researchers to estimate models imposing stringent prior choices on technical change. We demonstrate that estimation of the...
Persistent link: https://www.econbiz.de/10009532064
There are widespread differences in total factor productivity across producers in the U.S. and around the world. To help explain these variations, we devise a general test for misallocation in input choices - the underuse of effective inputs and overuse of ineffective ones. Misallocation implies...
Persistent link: https://www.econbiz.de/10014337801
the remaining parameters. Due to the detailed data, specific types of biased technological change in heterogeneous capital … inputs can be tested. Furthermore, time-varying inefficiency trajectories for each country are obtainable. Annual data from … factor input data. …
Persistent link: https://www.econbiz.de/10010264965
I propose a new decomposition of aggregate total factor productivity. I model productivity as an index of unmeasured factors of production, and decompose the conditional factor demand for this index. With this model of productivity, changes in the price of labor or capital cause substitution to...
Persistent link: https://www.econbiz.de/10012888982
. We also estimate rates of factor-augmentation. Aggregate estimates are produced using the same data. Our empirical model … comes from the first-order conditions associated with a CES production function. Our data represents 35 industries at …
Persistent link: https://www.econbiz.de/10013115989
in research (R&D), technology (high-tech capital), and education (human capital). Based on detailed industry-level data …
Persistent link: https://www.econbiz.de/10014064040
This paper introduces new estimates of recent productivity developments in the United States, using an appropriate theoretical framework for aggregating industry MFP to sectors and the total economy. Our work sheds light on the sources of the continued strong performance of U.S. productivity...
Persistent link: https://www.econbiz.de/10012709388
changes and labour. Analysing the time series data of various OECD countries we could conclude that a large part of the …
Persistent link: https://www.econbiz.de/10013046295