全球智库信息集成服务系统(G2TT): Aggregate Productivity and the Productivity of Aggregates

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w5382
来源ID	Working Paper 5382
	Aggregate Productivity and the Productivity of Aggregates
	Susanto Basu; John G. Fernald
发表日期	1995-12-01
出版年	1995
语种	英语
摘要	Explanations of procyclical productivity play a key role in a variety of business-cycle models. Most of these models, however, explain this procyclicality within a representative-firm paradigm. This procedure is misleading. We decompose aggregate productivity changes into several terms, each of which has an economic interpretation. However, many of these terms measure composition effects such as reallocations of inputs across productive units. We apply this decomposition to U.S. data by aggregating from roughly the two-digit level to the private economy. We find that the compositional terms are significantly procyclical. Controlling for these terms virtually eliminates the evidence for increasing returns to scale, and implies that input growth is uncorrelated with technology change.
主题	Econometrics ; Estimation Methods ; Microeconomics ; Households and Firms
URL	https://www.nber.org/papers/w5382
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/562837
推荐引用方式 GB/T 7714	Susanto Basu,John G. Fernald. Aggregate Productivity and the Productivity of Aggregates. 1995.