Technical efficiency and US manufacturing productivity growth

• 成果类型: Article
• 署名作者: Bernstein, JI; Mamuneas, TP; Pashardes, P
• 署名单位: Carleton University; National Bureau of Economic Research; University of Leicester; University of Cyprus
• 刊物名称: REVIEW OF ECONOMICS AND STATISTICS
• ISSN/ISSBN: 0034-6535
• DOI: 10.1162/003465304323023903
• 发表日期: 2004-02
• 页码: 402-412
• 关键词: research-and-development; errors

摘要

This paper establishes that new inputs increase technical efficiency levels for U.S. manufacturing. Over the period 1950-1998, intermediate inputs exhibited higher rates of efficiency growth than labor and capital. Efficiency-adjusted productivity growth annually averaged 0.4 percentage points above measured growth. The gap between efficiency-adjusted and measured productivity growth arises from aggregating inputs using observed, and not efficiency-adjusted, cost share weights in the calculation of measured growth. Specifically, the decline in efficiency-adjusted material cost shares, compared to the measured shares, coupled with the comparatively high material input growth rate, was the main source of the productivity gap.