ARE APPARENT PRODUCTIVE SPILLOVERS A FIGMENT OF SPECIFICATION ERROR

• 成果类型: Article
• 署名作者: BASU, S; FERNALD, JG
• 署名单位: Federal Reserve System - USA; University of Michigan System; University of Michigan
• 刊物名称: JOURNAL OF MONETARY ECONOMICS
• ISSN/ISSBN: 0304-3932
• DOI: 10.1016/0304-3932(95)01208-6
• 发表日期: 1995
• 页码: 165-188
• 关键词: externalities; PRODUCTIVITY; Value-Added; imperfect competition

摘要

Using data on gross output for two-digit manufacturing industries, we find that an increase in the output of one manufacturing sector has little or no significant effect on the productivity of other sectors. Using value-added data, however, we confirm the results of previous studies which find that output spillovers instead appear large. We provide an explanation for these differences, showing why, with imperfect competition, the use of value-added data leads to a spurious finding of large apparent external effects.