Macro And Micro Dynamics Of Productivity

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Macro and Micro Dynamics of Productivity

Author : Lucia S. Foster
Publisher :
ISBN 13 :
Total Pages : 47 pages
Book Rating : 4.:/5 (1 download)

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Book Synopsis Macro and Micro Dynamics of Productivity by : Lucia S. Foster

Download or read book Macro and Micro Dynamics of Productivity written by Lucia S. Foster and published by . This book was released on 2017 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: Researchers use a variety of methods to estimate total factor productivity (TFP) at the firm level and, while these may seem broadly equivalent, how the resulting measures relate to the TFP concept in theoretical models depends on the assumptions about the environment in which firms operate. Interpreting these measures and drawing insights based upon their characteristics thus must take into account these conceptual differences. Absent data on prices and quantities, most methods yield "revenue productivity" measures. We focus on two broad classes of revenue productivity measures in our examination of the relationship between measured and conceptual TFP (TFPQ). The first measure has been increasingly used as a measure of idiosyncratic distortions and to assess the degree of misallocation. The second measure is, under standard assumptions, a function of fundamentals (e.g., TFPQ). Using plant-level U.S. manufacturing data, we find these alternative measures are (i) highly correlated; (ii) exhibit similar dispersion; and (iii) have similar relationships with growth and survival. These findings raise questions about interpreting the first measure as a measure of idiosyncratic distortions. We also explore the sensitivity of estimates of the contribution of reallocation to aggregate productivity growth to these alternative approaches. We use recently developed structural decompositions of aggregate productivity growth that depend critically on estimates of output versus revenue elasticities. We find alternative approaches all yield a significant contribution of reallocation to productivity growth (although the quantitative contribution varies across approaches).

Macro and Micro Dynamics of Productivity

Author : Lucia S. Foster
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (15 download)

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Book Synopsis Macro and Micro Dynamics of Productivity by : Lucia S. Foster

Download or read book Macro and Micro Dynamics of Productivity written by Lucia S. Foster and published by . This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Researchers use a variety of methods to estimate total factor productivity (TFP) at the firm level and, while these may seem broadly equivalent, how the resulting measures relate to the TFP concept in theoretical models depends on the assumptions about the environment in which firms operate. Interpreting these measures and drawing insights based upon their characteristics thus must take into account these conceptual differences. Absent data on prices and quantities, most methods yield ``revenue productivity" measures. We focus on two broad classes of revenue productivity measures in our examination of the relationship between measured and conceptual TFP (TFPQ). The first measure has been increasingly used as a measure of idiosyncratic distortions and to assess the degree of misallocation. The second measure is, under standard assumptions, a function of fundamentals (e.g., TFPQ). Using plant-level U.S. manufacturing data, we find these alternative measures are (i) highly correlated; (ii) exhibit similar dispersion; and (iii) have similar relationships with growth and survival. These findings raise questions about interpreting the first measure as a measure of idiosyncratic distortions. We also explore the sensitivity of estimates of the contribution of reallocation to aggregate productivity growth to these alternative approaches. We use recently developed structural decompositions of aggregate productivity growth that depend critically on estimates of output versus revenue elasticities. We find alternative approaches all yield a significant contribution of reallocation to productivity growth (although the quantitative contribution varies across approaches).

From Micro to Macro: a Note on the Analysis of Aggregate Productivity Dynamics Using Firm-level Data

Author : Daniel Dias
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (126 download)

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Book Synopsis From Micro to Macro: a Note on the Analysis of Aggregate Productivity Dynamics Using Firm-level Data by : Daniel Dias

Download or read book From Micro to Macro: a Note on the Analysis of Aggregate Productivity Dynamics Using Firm-level Data written by Daniel Dias and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Studies in the Microdynamics of Production and Productivity Change

Author : Hans Tson Söderström
Publisher :
ISBN 13 :
Total Pages : 332 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Studies in the Microdynamics of Production and Productivity Change by : Hans Tson Söderström

Download or read book Studies in the Microdynamics of Production and Productivity Change written by Hans Tson Söderström and published by . This book was released on 1974 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Producer Dynamics

Author : Timothy Dunne
Publisher : University of Chicago Press
ISBN 13 : 0226172570
Total Pages : 623 pages
Book Rating : 4.2/5 (261 download)

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Book Synopsis Producer Dynamics by : Timothy Dunne

Download or read book Producer Dynamics written by Timothy Dunne and published by University of Chicago Press. This book was released on 2009-05-15 with total page 623 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Census Bureau has recently begun releasing official statistics that measure the movements of firms in and out of business and workers in and out of jobs. The economic analyses in Producer Dynamics exploit this newly available data on establishments, firms, and workers, to address issues in industrial organization, labor, growth, macroeconomics, and international trade. This innovative volume brings together a group of renowned economists to probe topics such as firm dynamics across countries; patterns of employment dynamics; firm dynamics in nonmanufacturing industries such as retail, health services, and agriculture; employer-employee turnover from matched worker/firm data sets; and turnover in international markets. Producer Dynamics will serve as an invaluable reference to economists and policy makers seeking to understand the links between firms and workers, and the sources of economic dynamics, in the age of globalization.

Dynamic Efficiency and Productivity Measurement

Author : Elvira Silva
Publisher : Oxford University Press
ISBN 13 : 0190919485
Total Pages : 304 pages
Book Rating : 4.1/5 (99 download)

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Book Synopsis Dynamic Efficiency and Productivity Measurement by : Elvira Silva

Download or read book Dynamic Efficiency and Productivity Measurement written by Elvira Silva and published by Oxford University Press. This book was released on 2020-11-03 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: A systematic treatment of dynamic decision making and performance measurement Modern business environments are dynamic. Yet, the models used to make decisions and quantify success within them are stuck in the past. In a world where demands, resources, and technology are interconnected and evolving, measures of efficiency need to reflect that environment. In Dynamic Efficiency and Productivity Measurement, Elvira Silva, Spiro E. Stefanou, and Alfons Oude Lansink look at the business process from a dynamic perspective. Their systematic study covers dynamic production environments where current production decisions impact future production possibilities. By considering practical factors like adjustments over time, this book offers an important lens for contemporary microeconomic analysis. Silva, Stefanou, and Lansink develop the analytical foundations of dynamic production technology in both primal and dual representations, with an emphasis on directional distance functions. They cover concepts measuring the production structure (economies of scale, economies of scope, capacity utilization) and performance (allocative, scale and technical inefficiency, productivity) in a methodological and comprehensive way. Through a unified approach, Dynamic Efficiency and Productivity Measurement offers a guide to how firms maximize potential in changing environments and an invaluable contribution to applied microeconomics.

The Oxford Handbook of Productivity Analysis

Author : Emili Grifell-Tatjé
Publisher : Oxford University Press
ISBN 13 : 0190226722
Total Pages : 857 pages
Book Rating : 4.1/5 (92 download)

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Book Synopsis The Oxford Handbook of Productivity Analysis by : Emili Grifell-Tatjé

Download or read book The Oxford Handbook of Productivity Analysis written by Emili Grifell-Tatjé and published by Oxford University Press. This book was released on 2018-08-07 with total page 857 pages. Available in PDF, EPUB and Kindle. Book excerpt: Productivity underpins business success and national well-being and thus it is crucial to understand the factors that influence productivity growth. This volume provides a comprehensive exploration into the significance of productivity growth for business, the economy, and for social economic progress. It examines how productivity is defined, measured and implemented. It also surveys the dispersion of productivity across time and place, focusing on the productivity dynamics that either leads to a reallocation of resources that reduces dispersion and increases aggregate productivity or, conversely, allows dispersion to persist behind barriers to productivity-enhancing reallocation. A third focus is an investigation of the drivers of, or impediments to, productivity growth, some of which are organizational in nature and under management control and others of which are institutional in nature and subject to public policy intervention. The Oxford Handbook of Productivity Analysis contains contributions of distinguished productivity experts from around the world who analyze a wide range of timely issues. These issues concern purely analytical topics surrounding the measurement of productivity in various situations, beginning with the ideal situation in which all inputs and all outputs, and their prices, are observed accurately. They also include service sectors such as education in which the services provided are hard to define, much less measure, and other sectors that generate undesirable environmental externalities that are difficult to price and complicate the very definition of productivity. The issues also involve business management topics ranging from the role of business models and benchmarking to the quality of management practices, the adoption of new technologies, and possible complementarities between the two. The relationship between productivity and business performance is also explored. At a more aggregate level the issues range from the impacts of market power, incentive regulation, international trade and global value chains on productivity, to the contribution of productivity to economic development and economic welfare.

Global Productivity

Author : Alistair Dieppe
Publisher : World Bank Publications
ISBN 13 : 1464816093
Total Pages : 552 pages
Book Rating : 4.4/5 (648 download)

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Book Synopsis Global Productivity by : Alistair Dieppe

Download or read book Global Productivity written by Alistair Dieppe and published by World Bank Publications. This book was released on 2021-06-09 with total page 552 pages. Available in PDF, EPUB and Kindle. Book excerpt: The COVID-19 pandemic struck the global economy after a decade that featured a broad-based slowdown in productivity growth. Global Productivity: Trends, Drivers, and Policies presents the first comprehensive analysis of the evolution and drivers of productivity growth, examines the effects of COVID-19 on productivity, and discusses a wide range of policies needed to rekindle productivity growth. The book also provides a far-reaching data set of multiple measures of productivity for up to 164 advanced economies and emerging market and developing economies, and it introduces a new sectoral database of productivity. The World Bank has created an extraordinary book on productivity, covering a large group of countries and using a wide variety of data sources. There is an emphasis on emerging and developing economies, whereas the prior literature has concentrated on developed economies. The book seeks to understand growth patterns and quantify the role of (among other things) the reallocation of factors, technological change, and the impact of natural disasters, including the COVID-19 pandemic. This book is must-reading for specialists in emerging economies but also provides deep insights for anyone interested in economic growth and productivity. Martin Neil Baily Senior Fellow, The Brookings Institution Former Chair, U.S. President’s Council of Economic Advisers This is an important book at a critical time. As the book notes, global productivity growth had already been slowing prior to the COVID-19 pandemic and collapses with the pandemic. If we want an effective recovery, we have to understand what was driving these long-run trends. The book presents a novel global approach to examining the levels, growth rates, and drivers of productivity growth. For anyone wanting to understand or influence productivity growth, this is an essential read. Nicholas Bloom William D. Eberle Professor of Economics, Stanford University The COVID-19 pandemic hit a global economy that was already struggling with an adverse pre-existing condition—slow productivity growth. This extraordinarily valuable and timely book brings considerable new evidence that shows the broad-based, long-standing nature of the slowdown. It is comprehensive, with an exceptional focus on emerging market and developing economies. Importantly, it shows how severe disasters (of which COVID-19 is just the latest) typically harm productivity. There are no silver bullets, but the book suggests sensible strategies to improve growth prospects. John Fernald Schroders Chaired Professor of European Competitiveness and Reform and Professor of Economics, INSEAD

New Developments in Productivity Analysis

Author : Charles R. Hulten
Publisher : University of Chicago Press
ISBN 13 : 0226360644
Total Pages : 648 pages
Book Rating : 4.2/5 (263 download)

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Book Synopsis New Developments in Productivity Analysis by : Charles R. Hulten

Download or read book New Developments in Productivity Analysis written by Charles R. Hulten and published by University of Chicago Press. This book was released on 2007-11-01 with total page 648 pages. Available in PDF, EPUB and Kindle. Book excerpt: The productivity slowdown of the 1970s and 1980s and the resumption of productivity growth in the 1990s have provoked controversy among policymakers and researchers. Economists have been forced to reexamine fundamental questions of measurement technique. Some researchers argue that econometric approaches to productivity measurement usefully address shortcomings of the dominant index number techniques while others maintain that current productivity statistics underreport damage to the environment. In this book, the contributors propose innovative approaches to these issues. The result is a state-of-the-art exposition of contemporary productivity analysis. Charles R. Hulten is professor of economics at the University of Maryland. He has been a senior research associate at the Urban Institute and is chair of the Conference on Research in Income and Wealth of the National Bureau of Economic Research. Michael Harper is chief of the Division of Productivity Research at the Bureau of Labor Statistics. Edwin R. Dean, formerly associate commissioner for Productivity and Technology at the Bureau of Labor Statistics, is adjunct professor of economics at The George Washington University.

Measuring and Accounting for Innovation in the Twenty-First Century

Author : Carol Corrado
Publisher : University of Chicago Press
ISBN 13 : 022672817X
Total Pages : 603 pages
Book Rating : 4.2/5 (267 download)

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Book Synopsis Measuring and Accounting for Innovation in the Twenty-First Century by : Carol Corrado

Download or read book Measuring and Accounting for Innovation in the Twenty-First Century written by Carol Corrado and published by University of Chicago Press. This book was released on 2021-05-12 with total page 603 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Measuring innovation is a challenging task, both for researchers and for national statisticians. This task is timely and valuable given that policy and public interest in innovation has become increasingly intense in this era of digital revolution, yet National GDP Accounts and other economic statistics do not fully account for the wide range of innovative activity that is plainly evident in everyday experience. Indeed, innovation has in many ways changed the structure of an increasingly digitized marketplace, from cloud computing to the gig economy. The papers collected in this volume, Measuring and Accounting for Innovation in the Twenty-First Century, address many different dimensions of this challenge, ranging from how to best to define GDP to the fundamental question of what is an innovation and how to collect data at the level of an individual innovation. Taken together, the volume provides a comprehensive overview of the cutting-edge of this widely varied but thematically-connected research that draws on multiple methodologies and data. The editors and authors consider how measurement frameworks could be expanded to enhance our understanding of innovative activity; new approaches and evidence that could account for innovation's economic impact; innovation's effect across the economy, from production processes to labor markets and financial activities; and what practical adjustments could be made to current measurements that would better capture innovation. The distinctive stance of this volume makes clear that the challenge of measuring innovation and understanding its implications has become increasingly complex as the economy has evolved. The editors and authors show that the limitations of our existing measurement system significantly hinder researchers, analysts, and policymakers. Better measures of innovative activity are necessary to interpret the consequences of innovation in daily life and to inform policies that best promote the attendant benefits, including distribution of income, trademark protections, and more. Now, in an era of fake news and alternative facts, it is more important than ever to push for accuracy in basic economic facts"--

Productivity Dynamics in Emerging and Industrialized Countries

Author : Deb Kusum Das
Publisher : Taylor & Francis
ISBN 13 : 1351002538
Total Pages : 660 pages
Book Rating : 4.3/5 (51 download)

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Book Synopsis Productivity Dynamics in Emerging and Industrialized Countries by : Deb Kusum Das

Download or read book Productivity Dynamics in Emerging and Industrialized Countries written by Deb Kusum Das and published by Taylor & Francis. This book was released on 2018-04-17 with total page 660 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world, of late, has seen a productivity slowdown. Many countries continue to recover from various shocks in the macro business environment, along with structural changes and inward looking policies. In contemporary times of growth slumps, various exits and protectionist regimes, this book engages with the study of productivity dynamics in the emerging and industrialized economies. The essays address the crucial aspects, such as the roles of human capital, investment accounting and datasets, that help understanding of productivity performance of global economy and its several regions. This book will be of interest to academics, practitioners and professionals in the field of economic growth, productivity and development studies. This will also be an important reference on empirical industrial economics in both India and the world.

The Micro and Macro Dynamics of Capital Flows

Author : Felipe Saffie
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (119 download)

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Book Synopsis The Micro and Macro Dynamics of Capital Flows by : Felipe Saffie

Download or read book The Micro and Macro Dynamics of Capital Flows written by Felipe Saffie and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We empirically and theoretically study the effects of capital flows on resource allocation within sectors and cross-sectors. Novel data on service firms - in addition to manufacturing firms - allows us to assess two channels of resource reallocation. Capital inflows lower the relative price of capital, which promotes capital-intensive industries - an input-cost channel. Second, capital inflows increase aggregate consumption, which tilts the demand towards goods with high income elasticities - a consumption channel. We provide evidence for these two channels using firm-level census data from the financial liberalization in Hungary, a policy reform that led to capital inflows. We show that firms in capital intensive industries expand, as do firms in industries producing goods with high income elasticities. In the short-term, the consumption channel dominates and resources reallocate towards high income elasticity activities, such as services. We build a dynamic, multi-sector, heterogeneous firm model with multiple sectors of an economy transitioning to its steady-state. We simulate a capital account liberalization and show that the model can rationalize our empirical findings. We then use the model to assess the permanent effects of capital flows and show that the long-term allocation of resources and, thus, aggregate productivity depend on degree of long-term financial openness of the economy. Larger liberalizations trigger long-run debt pushing the country to a permanent trade surplus. This tilts long-run production towards manufacturing exporters, which also increases aggregate productivity.

Labor Productivity

Author : David Mandle Kagan
Publisher :
ISBN 13 :
Total Pages : 162 pages
Book Rating : 4.:/5 (112 download)

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Book Synopsis Labor Productivity by : David Mandle Kagan

Download or read book Labor Productivity written by David Mandle Kagan and published by . This book was released on 1983 with total page 162 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Productivity

Author : Bert M. Balk
Publisher : Springer Nature
ISBN 13 : 3030754480
Total Pages : 328 pages
Book Rating : 4.0/5 (37 download)

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Book Synopsis Productivity by : Bert M. Balk

Download or read book Productivity written by Bert M. Balk and published by Springer Nature. This book was released on 2021-07-22 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book develops the theory of productivity measurement using the empirical index number approach. The theory uses multiplicative indices and additive indicators as measurement tools, instead of relying on the usual neo-classical assumptions, such as the existence of a production function characterized by constant returns to scale, optimizing behavior of the economic agents, and perfect foresight. The theory can be applied to all the common levels of aggregation (micro, meso, and macro), and half of the book is devoted to accounting for the links existing between the various levels. Basic insights from National Accounts are thereby used. The final chapter is devoted to the decomposition of productivity change into the contributions of efficiency change, technological change, scale effects, and input or output mix effects. Applications on real-life data demonstrate the empirical feasibility of the theory. The book is directed to a variety of overlapping audiences: statisticians involved in measuring productivity change; economists interested in growth accounting; researchers relating macro-economic productivity change to its industrial sources; enterprise micro-data researchers; and business analysts interested in performance measurement.

Topics in Classical Micro- and Macroeconomics

Author : Peter Flaschel
Publisher : Springer Science & Business Media
ISBN 13 : 3642003249
Total Pages : 517 pages
Book Rating : 4.6/5 (42 download)

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Book Synopsis Topics in Classical Micro- and Macroeconomics by : Peter Flaschel

Download or read book Topics in Classical Micro- and Macroeconomics written by Peter Flaschel and published by Springer Science & Business Media. This book was released on 2010-03-14 with total page 517 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book on Classical micro- and macrodynamics includes revised versions of papers which were written between 1983 and 2000, some jointly with co-authors, and it supplements them with recent work on the issues which are raised and treated in them. It attempts to demonstrate to the reader that themes of Classical economics, in particular in the tradition of Smith, Ricardo and Marx, can be synthesized into a coherent whole, from the perspective of formal model building. This is accomplished by means of mathematical techniques which, on the one hand, provide a consistent accounting framework (labor values and prices of p- duction) as point of reference for Classical micro- and macro-dynamics and which, on the other hand, attempt to apply these accounting schemes – or suitable ext- sions of them – by showing their usefulness as tools of analysis of the implications of technological change (labor values) and as potential tools for understanding the dynamics of market prices and of income distribution around their centers of gravity (production prices and the wage-pro?t curve).

Productivity Analysis

Author : Bo Carlsson
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.:/5 (924 download)

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Book Synopsis Productivity Analysis by : Bo Carlsson

Download or read book Productivity Analysis written by Bo Carlsson and published by . This book was released on 1989 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Microdynamics of Technological Change

Author : Cristiano Antonelli
Publisher : Routledge
ISBN 13 : 1134656084
Total Pages : 304 pages
Book Rating : 4.1/5 (346 download)

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Book Synopsis Microdynamics of Technological Change by : Cristiano Antonelli

Download or read book Microdynamics of Technological Change written by Cristiano Antonelli and published by Routledge. This book was released on 2002-01-04 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume presents a comprehensive assessment of the economic effects of the emerging information and communication technologies associated with a knowledge-based economy, and looks at how knowledge is increasingly treated as a product in its own right. An original framework is developed to comprehend these fundamental shifts, based on three bodies of knowledge: * the economics of path dependence and of historical time as they are elaborated in the economics of new technologies * economic topology based on the methodology of network analysis * the new economics of knowledge and the concept of localized technological change This book provides a unified analytical framework for the study of the transition of advanced economic systems towards a knowledge-based economy.